BREAKING: Niger Insurance, 2 others delist from NGX
The Nigerian Exchange Limited (NGX) has announced the delisting of Niger Insurance Plc, Resort Savings and Loans Plc, and RAK Unity Petroleum Plc from the Exchange.
The Exchange in a notice to trading license holders and the investing public stated that the pursuant to the provisions of Clause 15 of the General Undertaking, Appendix iii Of the Rule Book of The Exchange, 2015, Part II, Issuers’ Rules Delisting process which states that, to recognize that Council reserves the right to remove the name of a company from the Official List of The Exchange at its absolute discretion and may, if: it considers there is insufficient public interest in the company, viz, insufficient shares in the hands of the public; or any of the foregoing terms and conditions are not complied with; or the company becomes a subsidiary of any other company.
The shares of the three companies below have been delisted from the facilities of Nigerian Exchange Limited (NGX) effective on Thursday, 18 July 2024 on the grounds that they are operating below the listing standards of Nigerian Exchange Limited (NGX) and their securities are no longer considered suitable for continued listing and trading in the market.”
..this is a developing story.
