The shareholders of Ashaka Cement Plc monday approved the proposed voluntarily delisting of the company from the Nigerian Stock Exchange (NSE). The shareholders gave the approval at an Extraordinary General Meeting (EGM) held in Abuja.
Following the EGM, shareholders of the company will have a 90-day window as specified by NSE rules on voluntary delisting to decide on the exit plan on offer to shareholders. As proposed by the Board of Directors and passed by shareholders at the EGM.
shareholders may exit the company within the regulatory 90 days period prior to the official delisting of the company by either trading their shares on the NSE through their nominated stockbroker or receive 57 shares of Lafarge Africa Plc in exchange for 202 Ashaka Cement shares and a cash consideration of N2 per every AshakaCem exchanged.