LAGOS: THE Nigerian Stock Exchange has announced the delisting of shares of Cappa and D’Alberto Plc, the building and civil engineering contractor, from the bourse.
“The Nigerian Stock Exchange hereby gives notice that effective today, 16 January 2015, the shares of Cappa and D’Alberto Plc will be delisted from the Daily Official List of The Exchange.
“Today’s delisting of Cappa and D’Alberto brings to closure a sixty-nine month impasse regarding its purported delisting pursuant to resolutions passed at an Extraordinary General Meeting of the Company held on 24 March 2009,” NSE said in a statement signed by Josephine Igbinosun, its Assistant General Manager.
NSE said henceforth, shareholders wishing to exit the Company on account of its unlisted status may contact the company, which has undertaken not to unduly hinder such exits. Exiting shareholders may consider exiting through the Over the Counter Market, NSE added.
Operating in Nigeria since 1932, Cappa and D’Alberto Plc, is said to be the oldest and one of the most prominent organization in the local construction industry, with a workforce of more than 3 000.
NSE had previously reported the company to the Securities and Exchange commission for failing in its financial obligations to shareholders and the exchange.
SOURCE: CAJ NEWS AGENCY