NSE delists A.G Leventis from daily official list
The Nigerian Stock Exchange has announced the delisting of A.G Leventis Nigeria Plc from its daily official list.
The NSE said in a notice that the company had voluntarily applied for a delisting, which it approved on December 31, 2019.
The company’s shares had been suspended fully from trading on December 27, 2019.
A.G. Leventis had in September revealed
that its core shareholders ― Boval S.A, Leventis Holding S.A, and
Leventis Overseas Limited ― had planned to acquire the shares held by
It said Boval S.A, which acted on behalf
of the other core shareholders, approached its board of directors with
an intention to acquire the shares held by other shareholders at an
offer price of 53 kobo per share, and subsequently delist the company
from the NSE.
It added that the transaction was to be
implemented under a scheme of arrangement in line with Section 539 of
the Companies and Allied Matters Act, Cap C.20 Laws of the Federation of
The statement read in part, “The
proposed transaction is still subject to the review and clearance of the
NSE and the Securities and Exchange Commission, as well as the approval
of the shareholders of the company.
“The terms and conditions of the
proposed transaction will be provided in the scheme document, which will
be dispatched to all shareholders following the receipt of the
‘no-objection’ of the regulators and an order from the Federal High
Court to convene a court-ordered meeting.”
The NSE suspended trading in the shares
of A.G. Leventis to help the company to determine the shareholders that
would qualify to receive the scheme consideration from the arrangement
between it and the holders of its fully paid ordinary shares of 50 kobo
It said further to the approval of the
company’s application to delist its entire issued share capital from the
Exchange, stakeholders were informed that the entire issued share
capital of A.G. Leventis was on Tuesday, 7 January 2020 delisted from
the daily official list of the Exchange.
Source: Punchng, January 13, 2020