Ashanti Goldfields commences trading on New York Stock Exchange.NEW YORK--(BUSINESS WIRE)--Feb. 21, 1996--Ashanti Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. Company Limited, the largest producer of gold in Africa outside of South Africa, this morning commenced trading of global depository receipts representing its common stock on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . Headquartered in Accra, Ghana (West Africa), Ashanti Goldfields is the first African operating company operating company A business that engages in transactions with outsiders. to list on the New York Stock Exchange. "Our listing on the NYSE NYSE See: New York Stock Exchange is a demonstration of our commitment to our North America shareholders," said Sam Jonah Chief Executive of Ashanti. "Since our global offering in 1994, American institutional investors have been an important group of Ashanti shareholders. We are confident that our shareholders will receive numerous benefits, including more timely access to Ashanti, through our listing on the premier exchange in the United States." Ashanti's principal mining operation is located close to the town of Obuasi about 180 kilometers north-west of Accra, the capital of Ghana. Gold mining has been conducted at this site since 1897. Over the last ten years, Ashanti's annual gold production at Obuasi has increased from about 240,000 ounces in 1985 to 932,323 ounces in 1995. Ashanti's proven and probable gold reserves at Obuasi were approximately 20 million ounces as of the end of 1995. Through its recent acquisition of Cluff Resources plc, Ashanti now also owns controlling interests in the Ayanfuri mine in Ghana and the Freda Rebecca operations in Zimbabwe. These mines produced approximately 140,000 ounces of gold in 1995. Ashanti also holds a portfolio of gold exploration properties in Ghana as well as in Tanzia, Guinea, Mali, Niger, Senegal, Zimbabwe, Eritrea and Ethiopia. Ashanti's shares are listed on the Official List of the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. and the First List of the Ghana Stock Exchange The Ghana Stock Exchange (GSE) is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently has around 30 listed companies and 2 corporate bonds. All types of securities can be listed. and are now trading on the New York Stock Exchange under the ticker symbol ASL ASL - Algebraic Specification Language . CONTACT: Ashanti Goldfields Company Limited James Anaman, Corporate Affairs Manager (233/21) 772190 or Golin Harris Communications & Shandwick Consultants Limited Allan Jordan (New York), 212/697-9191 John Goold (London), 0171/329-0096 |
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