TO facilitate the ongoing share reconstruction of C & I Leasing Plc, the Nigerian Stock Exchange (NSE) has placed full suspension on trading in the company’s shares.
The full suspension is expected to remain until December 27, 2018 during which there will be no trading and price movement on the shares of C & I Leasing.
The full suspension will also enable the company’s registrars to update the register of shareholders for the planned share consolidation.
It will be recalled that C & I Leasing revealed plans to reduce its paid up share capital by 80 per cent in a share capital reconstruction that will see cancellation of 1.506 billion ordinary shares.
According to the plan, four ordinary shares of 50 kobo each will be consolidated into one ordinary share of 50 kobo each. The reconstruction will reduce C & I Leasing’s current outstanding share capital of 1.883 billion ordinary shares of 50 kobo each to 376.56 million ordinary shares of 50 kobo each.
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