NIGERIAN STOCK EXCHANGE DELIST 10 FIRMS

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[fadun]

The Nigerian Stock Exchange have delisted the following 10 stocks for failing to meet the post-listing requirements of the exchange.

1. Acen Insurance Plc
2. Tate Industries Plc
3. Maureen Laboratories Plc
4. Enpee Industries Plc
5. Ceramic Manufacturer Nigeria Plc
6. Beverages (West Africa) Plc
7. Baico Insurance Plc
8. Atlas Nigeria Plc
9. Amicable Assurance Plc
10. Rietzcot Nigeria Company Plc

[talk2castro]

When did that happen? Why is Baico among the delisted companies? Does it affect the share holders? Please answer this.

[BigBros]

Yes, it surely does affect the share holders of   Baico.  As share holders they are part owners of the company, and as such shares in the rise and fall of the company. Also, they cannot sell their shares to raise money or receive dividends and bonus. The hard truth is that presently the shares are worthless.

[fadun]

The NSE must have carried out thorough investigation beofre delisting the companies. Of course, non of the companies involve is yet to make any comment yet. Let wait and see.

[BigBros]

Ok we are waiting. But I thank God I am not a shareholder there.

[fadun]

Well what do we tell those that have such shares. I hope this would be resolve soonest.

[fadun]

Non of the companies delisted by NSC haven't make any public declaration on the matter.

Meanwhile, there is an update in respect of ACEN Insurance as follows:

Following investigations and enquiries from Wema Registrars whom were Registrars to the ACEN Insurance offer.

The followings were my findings:
1. Money would be returned soon with interest
2. Sovereign Trust Insurance has not finished their acquisition of ACEN Insurance before they were   
    delisted.
3. No share certificates yet.

However, the above information need to be clarified by the Managing Director. I would post a on same subsequently.

Members ma post their opinion on same