Conglomerate Press Corporation plc delists from London Stock Exchange

MALAWI – Conglomerate Press Corporation plc (PCL), a public company, has delisted from the London Stock Exchange (LSE) as a global depository receipt following a review of continued benefits of listing on the bourse. PCL was the only firm in the country which was dual-listed on both Malawi Stock Exchange (MSE) and LSE as a global depository receipt which is a general name for a depository receipt where a certificate issued by a depository bank, which purchases shares of foreign companies, creates a security on a local exchange backed by…

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PZ Cussons Ghana delists from the Ghana Stock Exchange

GHANA – The Ghana Stock Exchange (GSE) has approved the delisting of a major consumer goods company, PZ Cussons Ghana from the stock market, following the review of offer documents to initiate the process. In October 2019, PZ Cussons announced its intention to delist from the stock market following the unanimous approval of a resolution seeking to undertake the Offer and to De-List the Company from the GSE. According to PZ Cussons Ghana, the proposed de-Listing is in line with the company’s plans to achieve operational efficiency, by providing management of…

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Nigeria’s downstream oil company, 11 Plc sto delist from NSE

NIGERIA – The board of directors of 11 Plc says following has approved the proposal for the oil firm to voluntarily delist from the Nigerian Stock Exchange. The company, in a statement, said that its decision to exit the Nigerian bourse would be subject to shareholders’ approval at the next annual general meeting slated for June 3. Punch Nigeria reported that as a result of the move, shareholders of the company will have a 90-day window on voluntary delisting to decide on the exit plan to offer shareholders. The oil…

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