By Modupe Gbadeyanka
The management of Ashaka Cement Plc has formally notified its shareholders and the general public of its delisting from the Nigerian Stock Exchange (NSE).
In a statement issued on Tuesday, July 4, 2017 and signed by the Company Secretary, Mrs Zainab Silas-Umaru, the firm said the delisting takes effect today.
The statement said “application for the voluntary delisting of Ashaka Cement was approved on May 25, 2017 by the Quotation Committee of the National Council of the NSE.”
“The shareholders of Ashaka Cement Plc and the general public are hereby formally notified that the company has been voluntarily delisted from the daily official list of the Nigerian Stock Exchange (NSE) effective today, July 4, 2017,” Mrs Silas-Umaru said in the statement.
She noted that, “Following the voluntary delisting, former shareholders of Ashaka Cement who have exercised the option to exit the company prior to the delisting will received as agreed at the Extra-Ordinary General Meeting held on December 9, 2016; 57 Lafarge Africa Plc shares for every 202 Ashaka Cement share previously held as well as cash consideration of N2 per share.”
In addition, she said “shareholders who indicated that they do not want to remain in the unlisted Ashaka Cement will, in accordance with the Delisting Guidelines of the NSE, be entitled to receive from the company a payment of N15.74k per share.”
Concluding, Mrs Silas-Umaru said, “All enquiries in respect of this public notice should be directed to The Company Secretary, Ashaka Cement Plc, Ashaka Works, Gombe State via [email protected] and +23412713990 (Ext 8604).”
Recall that last year, Ashaka Cement Plc disclosed plans to voluntarily delist from the NSE following deficiency in the company’s free float.
