Monday, 24 September 2018
Menzgold bows to SEC pressure; halts gold vault market services ‘temporarily

Menzgold bows to SEC pressure; halts gold vault market services ‘temporarily

Management of Menzgold has announced Thursday morning that it has temporarily halted its collectables and any new business related to its gold vault market with immediate effect.



According to the company, the halt of what is also called extra value payments takes effect from today Thursday, September 13 and will be in place for six days, "by which time we believe all pending issues related to the Gold Vault Market Product would have been ironed out."

The company is hopeful the halt would not go beyond September 19, 2018.

"This decision, though very unfavourable to us has been informed by our commitment to the rule of law, absolute respect to state agents, agencies and total submission to the state," the press release, published below, stated.

More updates soon, full release has been published below

Following the notice from the Securities and Exchange Commission of Ghana issued on the 7th day of September, 2018, the Management of Menzgold Ghana limited in its bid to bring some finality to the issues once and for all has decided to place a temporal halt on all extra value payments and any new business related to our Gold Vault Market.

The halt takes effect from Thursday 13th September and will be in place for 6 days, by which time we believe all pending issues related to the Gold Vault Market Product would have been ironed out.

We are certain this halt would not go beyond the 19th day of September, 2018.

This decision, though very unfavourable to us has been informed by our commitment to the rule of law, absolute respect to state agents, agencies and total submission to the state.

We would, as usual count on your understanding and cooperation during this period. For any further clarification please call 0303 976 961 or 020 111 3287.

Any inconvenience caused is deeply regretted. Thank you.

Signed

Management, MENZGOLD