Flour Mills of Nigeria Plc has notified the Nigerian Exchange and the investing public of the recent Court Ordered meeting that would eventually lead to the termination of trading in the shares of the Company on the Nigerian Exchange.
The special resolution passed at the Court Ordered meeting can be found below:
That the Scheme of Arrangement as contained in the Scheme Documents dated September 23, 2024 approved by the Securities and Exchange Commission, endorsed by the chairman has been approved.
The legal and beneficial ownership of the Scheme Shares be transferred to Excelsior Shipping Company Limited and its wholly owned Nigerian subsidiary, Greywise Investment Solutions Limited.
That the holders of the Scheme Shares be paid the Scheme Considerations by Excelsior Shipping Company Limited for the transfer of the said Scheme Shares.
That as the consideration for the transfer of the Scheme Shares shall receive N86 per share for the shares transferred.
That Nigerian Exchange Limited and Central Securities Clearing System shall be notified and requested to terminate trading in the shares with effect from the Eligibility Date and no trading or transfer of the Company shares shall be registered after that date.
That conditional upon the Scheme becoming effective, the Company shares shall be de-listed from NGX on the Eligibility Date.
