NSE Council urges delisted coys shareholders to hold EGM
Peter OBIORA
Proshare NI
May 13, 2009 at 16:20 GMT
The Council of the Nigerian Stock Exchange (NSE) following the delisting of nine (9) companies on its Daily Official List urged the shareholders of these companies to hold an Extraordinary General Meeting (EGM).
This was contained in a Release dated May 12 2009 and signed by Mrs. Yinka Idowu General Manager/Head Corporate Affairs Department of the NSE and made available to Proshare NI in Lagos Nigeria.
“The Council reminded shareholders of each of the companies that they have statutory right to convene an Extra-Ordinary General Meeting to decide what to do with the companies and their assets” the Release affirmed.
It was further affirmed by the Council Members that whatever decision taken at such a meeting would be binding on the Promoters and Directors of the companies.
As earlier reported, the Council of the NSE approved the immediate delisting of these nine companies cutting across various sectors of the Nation’s Stock Market.
Mrs. Josephine Igbinosun, Secretary to Council of NSE in the release asserts that the action was taken following the expiration of the time given to the affected companies to regularise their status with the NSE.
The companies delisted were Footwears & Accessories Plc in the Footwear Sector; Ferdinand Oil Mills Plc in the Food, Beverages & Tobacco Sector, Christlieb Plc and BCN Plc both in the Healthcare Sector.
Others are Liz-Olofin & Company Plc; Epic Dynamic Plc and Oluwa Glass Company Plc, all in the Industrial/Domestic Products, as well as Aba Textile Mills Plc and Asaba Textile Mills Plc both belonging to the Textiles Sector of the Market.
