THE Nigerian Exchange has delisted the share of Niger Insurance Plc; Resort Savings and Loans Plc; and RAK Unity Petroleum Plc from trading on official list of The Exchange.
In a notice to trading Licence Holders and the investing public through the NG website notified that pursuant to the provisions of Clause 15 of the General Undertaking, Appendix iii Of the Rule Book of The Exchange, 2015, Part II, Issuers’ Rules Delisting process which states that:
“To recognize that Council reserves the right to remove the name of a company from the Official List of The Exchange at its absolute discretion and may, if:
it considers there is insufficient public interest in the company, viz, insufficient shares in the hands of the public; or any of the foregoing terms and conditions are not complied with; or the company becomes a subsidiary of any other company.
The shares of the three companies have been delisted from the facilities of Nigerian Exchange Limited (NGX or The Exchange) effective on Thursday, 18 July 2024 on the grounds that they are operating below the listing standards of Nigerian Exchange Limited (NGX) and their securities are no longer considered suitable for continued listing and trading in the market1:
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