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Shareholders Okay Delisting of Newrest ASL Shares

By Dipo Olowookere

The board of Newrest ASL Nigeria has been given the approval to proceed with the voluntary delisting of the shares of the company from the Nigerian Stock Exchange (NSE).

The approval was given during the Extraordinary General Meeting (EGM) of the firm, which took place on Tuesday, January 29, 2019.

Business Post reports that at the meeting held at Golden Tulip Hotel, Lagos, the shareholders resolved that the board to do “all such acts, deeds, matters, and delegations that may be required” to make the delisting process successful.

The board of Newrest ASL Nigeria had proposed a voluntary delisting of the company from the local stock exchange.

In a statement issued by the firm, it was noted that the shareholders resolved, “That pursuant to the recommendation of the board of directors of the company dated December 18, 2018 consent is hereby accorded to the board, by the members of the company, to seek voluntary delisting of all the shares of the company from the daily official list and from trading on the main board of the NSE where the shares of the company are currently listed, subject to the listing rules of the NSE and all other applicable laws.”

Shares of Newrest ASL Nigeria closed flat on Thursday, trading at N6.45k per unit, trading 13,187 units during the session.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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