Nigerian Stock Exchange (NSE) yesterday suspended trading on the shares of Diamond Bank Plc following the court sanction of the scheme of merger between Access Bank Plc and Diamond Bank Plc.
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.
The Bank obtained the Court Sanction of the Scheme on Tuesday, 19 March 2019, being the effective date of the Scheme.
The Bank’s shareholders passed a resolution approving the merger between Diamond Bank and Access Bank Plc at the Court Ordered Meeting of the Bank held on Wednesday, 6 March 2019.
The Scheme will result in the delisting of Diamond Bank Plc from the Daily Official List of The Exchange.