• Monday, December 11, 2023
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Majority shareholder unbundles equity holdings in VFD Group

Board, shareholders okay unbundling majority share in VFD Group

The board and shareholders of PremiumGreen Limited — the largest single shareholder of VFD Group Plc — have unanimously approved the decision to unbundle its holdings in VFD Group.

This will be through a transparent distribution process that will enable its shareholders to hold shares directly in VFD Group, the group said in a statement.

The decision follows VFD Group’s recent notice to its shareholders regarding the forthcoming Annual General Meeting (AGM) and the resolution to delist from the NASD to list on the main board of the NGX.

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“The board of PremiumGreen firmly believes that the unbundling of VFD Group shares will unlock substantial value for PremiumGreen shareholders and enhance liquidity on the shares of VFD Group Plc,” the company said.

“Subject to the recently concluded AGM and the approval of shareholders, VFD Group will be listed on the main board of the NGX.”

The company maintained that the listing represents a milestone in VFD Group’s growth trajectory, enhanced visibility, increased liquidity, and expanded market access.