Here are what Union Diagnostic shareholders resolved at Court-Ordered Meeting

Union Diagnostic and Clinical Services Plc has notified the investing public and the Nigerian Stock Exchange (NSE) the resolutions that were passed at the Court-Ordered Meeting of its shareholders held in Lagos on Monday, January 25, 2021.

The shareholders approved the Scheme of Arrangement dated Monday, December 7, 2020, and authorized the Directors to consent to any modifications of the Scheme of Arrangement that the Federal High Court or any regulatory authority may deem fit to impose or approve.

It was also resolved at the Court-Ordered Meeting of the shareholders of Union Diagnostic and Clinical Services Plc that for the purpose of giving effect to the Scheme in its original form or with or subject to such modification, addition and condition agreed between the Company and Holders of its Ordinary Shares and/or approved or imposed by the Court: (a). The Scheme Shares 1,407,855,051 issued and fully paid ordinary shares of 50kobo each of the Company be transferred to Cedar Advisory Partners Limited.

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Also that the Holders of the Scheme Shares be paid a cash consideration in the sum of N492.749million by Cedar Advisory Partners Limited for the transfer of the said Scheme Shares; that as consideration for the transfer of the Scheme Shares, each Holder of the Scheme Shares shall receive N0.35k per share; that the Board of Directors of the Company be and are hereby authorized to take all necessary steps and to consent to any modification of the Scheme of Arrangement that the Federal High Court shall deem fit to impose or approve.