Shareholders of the company had, at the Annual General Meeting (AGM) in
The company in its regulatory filing, Wednesday, explained that the delisting would enable it to explore strategic opportunities, alliances and collaborations that could bolster earnings and/or provide synergised benefits with little or no regulatory obligations.
Shareholders who do not consent to the exit proposal will be in the frame to sell their stakes at N213.90 per ordinary share.
"It is the highest price at which
The company explained that it would still maintain its public liability company status after delisting, even though its shares will no longer be eligible for trade on the NSE.
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It added that the delisting would not affect the current employment contracts of staff and the composition of the board of directors.
The delisting, however, is still subject to approvals by both the
It transformed to a limited liability company in 1951, the same year it adopted the name
In 1978, it was quoted on the NSE, assuming the identity--
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