NSE PLACE DIAMONK ON FULL SUSPENSION ON THE TRADING PLATFORM
In view of the approved merger between Access and Diamond bank, the Nigeria stock exchange have placed on full suspension, “Trading in the shares of Diamond Bank on the Nigerian Stock Exchange platform with effect from March 20, 2019.
“The suspension is required to prevent trading in the shares of the bank in order to determine the bank’s shareholders, who will qualify to receive the scheme consideration as the bank obtained the court sanction of the scheme on March 19, 2019, being the effective date of the scheme.”
It added that the bank’s shareholders passed a resolution approving the merger with Access Bank at the court ordered meeting of the bank held on March 6, 2019.
Diamond Bank said in a separate statement that shareholders and other investors were requested to note that following the full suspension on March 20, which was the last trade day, there would be no further trades in the shares of Diamond Bank Plc.
The Chief Executive Officer, Access Bank, Mr Herbert Wigwe, said the resulting entity from the merger would maintain the brand name Access Bank but with Diamond Bank colours.