TRANSCOHOT Obtains Approval of Free Float Compliance Extension

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Thursday, October 8, 2020 / 11:30 AM / NSE / Header Image Credit: The Nation


The Board of Directors of Transcorp Hotels Plc ("the Company") wishes to notify all its esteemed shareholders that the National Council of The Nigerian Stock Exchange ("The Exchange") approved the Company's free float compliance extension request of three (3) years (ending October 3, 2023). This is to enable the Company to comply with The Exchange's free float requirements of 20% issued and fully paid share capital or Twenty Billion Naira free float market capitalization for companies listed on its Main Board.

 

In line with Rule 3.1.4 of The Exchange's Rules Governing Free Float Requirements, The Exchange may suspend trading rights in the Company's securities if the Company does not achieve the required free float within the stipulated timeframe. The Board and Management of Transcorp Hotels Plc remains strong and is committed to good corporate governance and to delivering value to all its stakeholders.

 

The Company is positioned to achieve and meet the free float requirements of The Nigerian Stock Exchange within the three (3) years' timeframe, ending 3 October 2023.


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