Energy Service company, Global Spectrum Services Plc, has notified the exchange of its decision as a quoted company to delist from the Nigerian Exchange Group (NGX).
This was disclosed in a notice signed by the company’s secretary, Adetola Raheem, and filed with the Exchange (NGX).
The decision to delist from the Nigerian stock market was made during a meeting of the Board of Directors of Global Spectrum Energy Services Plc on February 28, 2022, according to the report. Following that, the company’s Board of Directors recommended voluntary delisting in a written resolution dated March 24, 2022.
What the company is saying
- It reads, “This is to inform Nigerian Exchange Limited (The “Exchange”) and the investing public that pursuant to meeting of the Board of Directors of Global Spectrum Energy Services Plc (“The Company”) held on Monday, 28th February 2022, and the subsequent written resolution of the board dated 24th March 2022, the Board of Directors of the Company recommended the voluntary delisting of the Company from the Exchange to the shareholders”.
- The company did not stipulate the reasons for the decision to voluntarily delist from the Nigerian Exchange Group (NGX).
In addition, the notice stated that the company intends to file an application to voluntarily delist the Company from the Exchange, subject to the approval of shareholders at the Annual General Meeting (AGM) of the Company. The AGM is scheduled to hold on Wednesday, 20th July 2022.
During the AGM, the shareholders will be required to consider the Board’s recommendation to voluntarily de-list the Company.