BusinessMerger: NSE Suspends Trading In Diamond Bank Shares

Merger: NSE Suspends Trading In Diamond Bank Shares

Ask ZiVA 728x90 Ads

BEVERLY HILLS, March 20, (THEWILL) – Trading in the shares of Diamond Bank Plc has been placed on full suspension by the Nigeria Stock Exchange (NSE) following the court sanction of the Scheme of Merger with Access Bank Plc.

NSE, in a notification to its dealing members on Wednesday, posted the informafion on its website saying that the full suspension takes effect from March 20.

“Dealing members are hereby notified that following the court sanction of the Scheme of Merger (Scheme) between Access Bank Plc and Diamond Bank Plc, trading in the shares of Diamond Bank has been placed on full suspension,” it stated.

Glo

The Exchange said that the suspension was required to prevent trading in the shares of the bank in order to determine shareholders who would qualify to receive the scheme consideration.

It noted that Diamond Bank obtained the court sanction of the scheme on March 19, being the effective date of the scheme.

The NSE stated that the bank’s shareholders passed a resolution approving the merger between Diamond Bank and Access Bank Plc at the court ordered meeting of the bank held on March 5.

NAN reports that the NSE will de-list Diamond Bank from the daily official list at the exchange after the merger.

About the Author

Homepage | Recent Posts

More like this
Related

Dates Confirmed For CAF Champions League, Confederation Cup Finals

March 28, (THEWILL)- The Confédération Africaine de Football (CAF)...

Binance Executives Sue ONSA, EFCC, Seek Enforcement Of Fundamental Rights

March 28, (THEWILL)- Detained Binance executive, Tigran Gambaryan, a...

Newcastle’s Tonali Charged With Misconduct Over Betting Allegations

March 28, (THEWILL)- Newcastle United's Sandro Tonali has been...