NSE suspends trading in Union Diagnostic shares

Trading in the shares of Union Diagnostic and Clinical Services Plc has been suspended, the Nigerian Stock Exchange has said.

The NSE suspension, effective on Mar. 5, was necessary to prevent trading in the shares of the company beyond the effective date of the Scheme of Arrangement between Union Diagnostic and Cedar Advisory Partners Limited and for determining the shareholders whose names are in the register of members on the effective date.

It said in a statement, “The terms of the scheme include the transfer of the entire issued and fully paid up ordinary shares of 50 kobo each in Union Diagnostic held by the scheme shareholders to Cedar Advisory Partners Limited.

“The company’s shareholders approved the Scheme at a Court Ordered Meeting held on 25 January 2021.”

The statement said the scheme would result in the delisting of the company from the Daily Official List of the Nigerian Stock Exchange.