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Headline : MRS Oil to Quit NGX for NASD OTC Securities Exchange

Read more from the original article on here at businesspost.ng.




Tags : #mrs #oil #quit #ngx #nasd #otc #securities #exchange


No. of Paragraph 11

A fully integrated downstream player in the country’s energy sector, MRS Oil Nigeria, is seeking the approval of its shareholders to leave the Nigerian Exchange (NGX) Limited for the NASD over-the-counter (OTC) Securities Exchange.

In a notice to the nation’s flagship stock exchange on Tuesday, MRS Oil disclosed that its decision to exit the platform is due to “regulatory obligations, administrative and compliance costs, emerging opportunities, evolving market conditions and the trajectory of projected long term financial and operational growth.”

It stated that the equities of the organisation would be delisted from the NGX and steps would be taken for the “shares of the company to be admitted on the NASD OTC Securities Exchange.”

However, an Extraordinary General Meeting (EGM) will be held on Tuesday, May 21, 2024, at 11 am at the Civic Centre in Lagos for investors to authorise the “voluntary delisting” of the issued shares of MRS Oil, comprising 342,884,706 ordinary shares from the daily official list and trading on the Main Board of the NGX.

Read more from the original article on here at businesspost.ng.


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