RE: Bank of Ghana report on Capital Bank Limited

Source: Ghana | Myjoyonline.com | NSA
Date: 8th-august-2018 Time:  6:25:50 pm

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Our attention has been drawn to publications and discussions in the media on the Bank of Ghana report on Capital Bank Limited.

We are by this release seeking to inform all about the facts relating to this matter.

All-Time Capital Limited is an assets management company licensed and regulated by the Securities and Exchange Commission of Ghana (SEC). We are licensed and regulated under the Securities Industry Act, 2016, Act 929 to provide Investment Advisory Services and Portfolio Management.

In the year 2015, MC Management Services Limited gave All-Time Capital Limited a mandate to raise funds through the issuance of a Commercial Paper. The purpose of the Commercial Paper was for the construction of 15,000sqm office and retail complex at North Dworwulu. At no point was All-Time Limited made aware that MC Management Services Limited required the Commercial Paper for obtaining Banking License for Sovereign Bank Limited.

Capital Bank Limited expressed interest in participating in the Commercial Paper and subsequently invested in it. All-Time Capital Limited acted solely as an Arranger. All the necessary documents were duly signed by the Chief Executive Officer of Capital Bank Limited, Rev Fitzgerald Odonkor; and the Chief Executive Officer of MC Management Services Limited, Dr. Tetteh Nettey.

For the avoidance of doubt at no time did Capital Bank Limited nor Mr. Ato Essien place any ‘strategic funds’ with All-Time Capital Limited. Further, Mr. Ato Essien is neither a Shareholder, Director, Officer or an Employee of All-time Capital Limited.

We wish to assure the general public and our esteem customers and clients that All-Time Capital Limited is dedicated to providing services to our customers in a professional, dedicated and efficient manner, thereby creating sustainable wealth for all our stakeholders.

Issued by Management of All-Time Capital Limited

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