Two companies on NSE’s delisting watch, as 9 others restructure
Deap Capital, Evans Medical affected
Nigerian investing public may be facing difficult times, as some of the companies listed on the Exchange are either listed for delisting or restructuring, while nine others are currently undergoing restructuring.
However, as more retail shareholders continue to call for protection from the capital market regulators, following regulatory delisting of listed companies, two listed companies have been placed on delisting lit of the NSE.
The two companies placed on delisting watch by the NSE’s on its X-compliance portal as at September 7th, are Deap Capital Management Plc. According to the exchange, the NSE quotation committee “has approved the company to be placed on delisting watch-list subject to filing Quarterly Compliance Report.”
Deap Capital Management & Trust Plc, which continued at par value price of 0.50 per shares , its outstanding of the company as at September 07th, 2017, was 1,500,000,000 shares with market capitalization of N750,000,000.00 million.
Also placed on delisting watch is Evans Medical, which currently has (DIP) delisting in progress has secured the endorsement of quotation committee of the NSE approval for delisting watch-list subject to filing Quarterly Compliance Report.
Evansmed has remained at par value price of N0.50 and shares outstanding of 732,347,370 million, and N366, 173,685.00 million market capitalization.
However, other nine companies currently undergoing restructuring, going by endorsement by the NSE quotation committee, include, Afrik Pharmaceuticals, which its restructuring has commenced; Union Dicon Salt with ongoing restructuring and Anino International , which has obtained NSE’s approval to restructure.
Others are, African Paints, with ongoing restructuring process, Goldlink Insurance, having secured NSE’s approval to restructure and Thomas Wyatt Nigeria.
Other listed companies currently restructuring are, Nigerian German Chemical, Golden Guinea Breweries and FTN Cocoa Processors.
Daily Times recalls that restructuring of the companies would include changes in the board, capitalization and company’s structure, among other changes.
