By Dipo Olowookere
The management of Nigerian Stock Exchange (NSE) has placed a full suspension the shares of Newrest ASL Nigeria Plc.
With this development, investors having the equities of the company will not be able trade them on the NSE platform.
The board of Newrest ASL Nigeria is planning to delist the company from the daily official list of the exchange and to make this a reality, those having shares of the firm must be prevented from further trading them.
Head of Listings Regulation Department at the NSE, Mr Godstime Iwenekhai, disclosed that the suspension became effective from Wednesday, February 27, 2019 (today).
Recently, Newrest ASL Nigeria applied to voluntarily delist its entire 634 million ordinary shares from the NSE.
After the approval of the NSE, “the shares of Newrest ASL were today, Wednesday, February 27, 2019 placed on full suspension.”
“This suspension is required to prevent further trading in the shares of Newrest ASL, and in order for the company to comply with the post-approval requirements which will precede the final delisting of the company from the daily official list of the NSE.
“Dealing members will be notified of the date of the company’s delisting in due course,” Mr Iwenekhai stated in the statement.
