Paints & Coatings, Avon Crowncaps Begin Delisting from NSE

Paints and Coatings Manufacturers Nigeria Plc and Avon Crowncaps & Containers (Nig.) Plc have commenced the process of being delisted from the daily official list of the Nigerian Stock Exchange (NSE).

The firms’ regulatory documents from the NSE signed by the Acting Head of Listings Regulation Department, Godstime Iwenekhai disclosed that a scheme of arrangement between both companies and holders of their fully paid up ordinary shares of 50k each will lead to the delisting of both companies entire shares from the NSE.

Iwenekhai confirmed that Paints and Coatings had through its Stockbroker; Meristem Securities Limited submitted an application for a Scheme of Arrangement between the Company and holders of its fully paid up ordinary shares of 50k each.

He said the Scheme will lead to the delisting of the entire shares of Paints and Coatings Manufacturers Nigeria Plc from The Daily Official List of The Exchange.

For Avon Crowncaps & Containers (Nig.) Plc, a like mannered application for a Scheme of Arrangement between the Company and holders of its fully paid up ordinary shares of 50k each, was also submitted through its Stockbroker; Integrated Trust & Investments Limited, leading to the entire shares of Avon Crowncaps & Containers (Nig.) Plc being delisted from The Daily Official List of The Exchange.