NSE suspends trading in Diamond Bank Shares

0
183

The Nigerian Stock Exchange has ordered the full suspension of trading in Diamond Bank Plc shares.

This follows a receipt of final approval of the Central Bank of Nigeria (CBN) and the Security and Exchange Commission (SEC) of the merger between Access Bank and Diamond Bank.

The move is premise on a Court-Ordered Meetings held on March 5, 2019 to review the proposed merger between Access Bank Plc and Diamond Bank Plc.

The announcement was contained in a letter by the company secretary, Uzoma Uja and published on the website of the NSE on Wednesday.

The letter stated that ‘‘The Full Suspension will enable the Bank determine the shareholders that will be entitled to receive the Scheme Consideration.

“Shareholders and other investors are requested to please note that following the Full Suspension of March 20, 2019 – the last trade day was Tuesday, March 19, 2019 following which there will be no further trades in the shares of Diamond Bank Plc.

”The Court Sanction of the Merger was obtained on March 19, 2019,’’ it added

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here