MRS Oil Shares Suspended Ahead of Exit From Stock Exchange

Shares of MRS Oil Nigeria Plc were suspended from trading on Friday ahead of the company’s exit from the stock exchange 55 years after listing.

“The suspension is necessary to prevent trading in the shares of the company in preparation for the delisting of the securities of the company in line with the approval obtained from Nigerian Exchange Limited (NGX),” the bourse said.

MRS Oil announced in March that it had concluded arrangements for the voluntary delisting of all its issued shares from the NGX and subsequent admission to the NASD OTC Securities Exchange.

The company, formerly known as Texaco Nigeria Limited, was listed on the stock exchange on January 1, 1970.