TUE, NOV 14 2023-theGBJournal| Union Bank of Nigeria Plc management said that the Bank is finalizing the process of obtaining approval to delist its shares from Nigerian Exchange (NGX), upon which shareholders of the Bank will receive a Scheme Consideration of N7.70 per share.
In a statement to notify its stakeholders on the impending action released on the NGX on Tuesday, the Bank said, ”consequent upon the approval, the Registrars will remit the Scheme Consideration to all shareholders of the Bank, pursuant to the decision of the Court-Ordered Meeting and the subsequent sanction by the Federal High Court.”
It urged all shareholders to ensure that their accounts have been duly mandated, for the purpose of receiving the Scheme Consideration.
Recall that Union Bank, one of the country’s oldest bank was acquired by Titan Trust Bank Limited in May 2023.
The acquisition of majority stake in the bank by the core investors, which was completed yesterday, led to the application to delist from the Exchange-in compliance with The Nigerian Exchange (NGX) Rule Book and the Amendments to the Listing Rules.
Union Bank Plc, Nigeria’s long-standing and most respected financial institutions, offers a portfolio of banking services to individuals, SMEs, commercial and corporate clients.
It has a robust geographical network comprising more than 293 service centres and over 937+ ATMs spread across Nigeria.
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