Following the approval of the Scheme of Arrangement between Glaxo SmithKline Consumer Nigeria Plc and holders of its fully paid ordinary shares by the Securities and Exchange Commission and sanctioning of the Scheme of Arrangement by the Federal High Court, trading in the Shares of the Company was suspended on the Nigerian Exchange Limited on Monday, 22 January 2024.
The suspension was to prevent further trading on the shares of the Company given that the effective date of the scheme of Arrangement was Friday, 19 January 2024, being the day the Court Sanction was filed with the Corporate Affairs Commission and to enable the Registrars to update the register of members for payment of the Scheme consideration and eventual delisting of the Company from the NGX.
