🚨 The CalBank court case nobody's talking about Everyone knows the Daniel Ofori vs CalBank shares drama. But there's a *second* court story — one that almost sank a GH¢600 million bank rescue plan, and quietly killed off an entire GSE stock ticker without most investors even noticing. Here's the full story 🧵👇 **1. The damage (2022)** Ghana's Debt Exchange Programme hit CalBank hard. Impairment losses jumped 1,600%+ — from GH¢82.4M to GH¢1.44 BILLION. The bank posted losses of GH¢815M (2022) and GH¢681M (2023). **2. The rescue plan (2023)** Shareholders approved a GH¢600M rights issue. Unusual move: split into ordinary shares AND preference shares — both at GHS 0.29. This is how "CALPREF" was born as its own listed stock. **3. The twist (May 2024)** Right as the offer was closing, a minority shareholder took CalBank to court — claiming the raise unfairly diluted existing shareholders. The bank was forced to freeze the entire share allotment process. **4. The resolution (June 2024)* The shareholder dropped the case. CalBank resumed and refunded unsuccessful applicants by July 8, 2024. But the delay had a cost. 5. The shortfall Instead of GH¢600M, the raise pulled in just ~GH¢145.84M. Barely above the GH¢120M minimum needed. 6. The disappearing act (2025) Those CALPREF preference shares were eventually converted into ordinary CalBank shares. That's why CALPREF got delisted from the GSE on August 19, 2025 — not written off, just quietly merged into the regular stock.