NGX Places PORTPAINT on Full Suspension Effective July 01, 2021


Sunday, July 04, 2021 / 02:40 AM / By NGX/ Header Image Credit: Portland Paints and Products Nigeria Plc 


Trading License Holders and the investing public are hereby notified that trading in the shares of Portland Paints and Products Nigeria Plc (Portland Paints or the Company) was suspended on Thursday, 1 July 2021.


The suspension was effected to prevent trading in the shares of the Company with effect from 1 July 2021 being the effective date of the Scheme of Merger between Chemical and Allied Products Plc (CAP) and Portland Paints (the Scheme) wherein it is proposed that CAP will become the surviving entity and Portland Paints will be absorbed.


Consequently, the suspension is required for the purpose of determining the Company's shareholders that will qualify to receive the Scheme consideration in preparation for the eventual delisting of Portland Paints from the Daily Official List of the Nigerian Exchange Limited.

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