NGX delists Studio Press, Union Diagnostic

THE shares of Studio Press Nigeria Plc and Union Diagnostic and Clinical Services Plc have been delisted from the trading platform of the Nigerian Exchange (NGX) Limited.

The equities of both companies were removed from the stock exchange on Friday,  according to a circular from the local bourse.

The delisting of Studio Press shares from trading on the bourse came after the completion of the transfer of the shares held by minority investors in the firm to the new owners, Federated Resources Nigeria Limited.

Federated Resources Nigeria Limited is not interested in being on the stock exchange and has opted to be a private company, which was why it quitted the NGX.

“We refer to our market bulletin of December 17, 2021, with reference number: NGXREG/LRD/MB57/21/12/17 wherein the market was notified of the full suspension placed on trading in the shares of Studio Press Nigeria Plc as a result of the scheme of arrangement between Studio Press and its shareholders involving the transfer of the ordinary shares held by minority shareholders to Federated Resources Nigeria Limited.

Following the conclusion of the scheme, trading license holders and the investing public are hereby notified that the entire issued share capital of Studio Press Nigeria Plc was delisted from the daily official list of Nigerian Exchange Limited today, Friday, January 7, 2022,” the notice from NGX stated.

Meanwhile, Union Diagnostic opted out of the Exchange as a result of the deal it had with Cedar Advisory Partners Limited, which is now in control of the organisation.

“We refer to our market bulletin of March 5, 2021, with reference number: NSE/LRD/MB15/21/03/05 wherein the market was notified of the full suspension placed on trading in the shares of Union Diagnostic and Clinical Services Plc as a result of the scheme of arrangement between Union Diagnostic and Cedar Advisory Partners Limited.

“Following the conclusion of the scheme, trading license holders and the investing public are hereby notified that the entire issued share capital of Union Diagnostic and Clinical Services Plc was delisted from the daily official list of Nigerian Exchange Limited today, Friday, January 7, 2022,” the second disclosure stated.

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