Access Bank Scheme Shares not available for trading on NSE

The Nigerian Stock Exchange (NSE) on Tuesday April 2 said that due to certain operational reasons, Access Bank Scheme shares which resulted from the merger between Access Bank Plc and Diamond Bank Plc were not available for trading on Tuesday April 2, 2019.

In a noted signed by Elizabeth Ekpo for Head, Listings Regulation Department, the Exchange regretted any inconvenience caused the holders of the affected shares. “The Exchange is working assiduously with Central Securities Clearing System (CSCS) and the Registrar to the company to produce a swift resolution and will be providing further updates as soon as we can.”

The NSE had on Monday April 1, 2019 listed Access Bank Plc’s 6,617,253,991 Ordinary Shares of 50 kobo each which resulted from a Scheme of Merger Between Access Bank Plc and Diamond Bank Plc (Scheme Shares), while the entire 23,160,388,968 ordinary shares of Diamond Bank Plc were on the same day delisted from the Daily Official List of The Exchange.

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Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.