Shareholders of Diamond Bank Plc will soon receive consideration of cash and shares following the its proposed merger with Access Bank Plc. The bank entered into merger agreement with Access Bank Plc late last year.
Immediately following completion of the merger, Diamond Bank would be absorbed into Access Bank and it will cease to exist under Nigerian law. Also, the current listing of Diamond Bank’s shares on the NSE and the listing of Diamond Bank’s global depositary receipts on the London Stock Exchange will be cancelled, upon the merger becoming effective.
Shareholders of the Diamond Bank had approved the merger early this month. Commenting on the votes by shareholders, Chief Executive Officer of Diamond Bank, Uzoma Dozie, said: “I am happy that the shareholders of Diamond Bank have supported this merger. The merger will bring together the complementary retail and corporate banking capabilities of two of Nigeria’s leading banks, creating Africa’s largest retail bank by customer base and Gateway to the World.
How one man's arrogance, caused a bank.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NSE announce full suspension of Diamond bank shares – Daily TrustThe Nigerian Stock Exchange has placed a full Suspension on Trading in Diamond Bank Plc Shares having received the final approval of the central bank of nigeria and the securities & exchange commission to the proposed merger between Access Bank Plc and Diamond Bank Plc This also follows the approval of shareholders that was obtained …
Source: Daily Trust - 🏆 13. / 51 Read more »
Court seals Access Bank, Diamond Bank merger - The Nation NigeriaThe Federal High Court (FHC) has sanctioned the approved scheme of merger between Access Bank Plc and Diamond Bank Plc, the final seal that effectively brings the merger of the two commercial banks into effect. Consequently, the Nigerian Stock Exchange (NSE) yesterday suspended trading on the shares of Diamond Bank Plc, which will be dissolved …
Source: TheNationNews - 🏆 6. / 69 Read more »
NSE suspends Diamond Bank shares - Vanguard News NigeriaNigerian Stock Exchange, NSE, yesterday announced the suspension of Diamond Bank Plc shares from trading following the court sanction of its merger with Access Bank Plc to the proposed scheme of merger.
Source: vanguardngrnews - 🏆 5. / 75 Read more »
NSE Places Diamond Bank’s Shares On Full SuspensionFollowing the completion of its business combination and the ongoing integration process with Access Bank Plc, the Nigerian Stock Exchange (NSE), yesterday placed Diamond Bank Plc shares on full suspension. The suspension is required to prevent trading in the shares of the bank in order to determine the shareholders who will be entitled to receive […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Merger: NSE places Diamond Bank shares on full suspension – Daily TrustTrading in the shares of Diamond Bank Plc has been placed on full suspension following the court sanction of the Scheme of Merger with Access Bank Plc. The Nigeria Stock Exchange (NSE) in a notification to its dealing members posted on its website on Wednesday said the full suspension takes effect from March 20.ADVERTISEMENT “Dealing …
Source: Daily Trust - 🏆 13. / 51 Read more »
Court sanctions Access, Diamond banks’ scheme of merger – Daily TrustDiamond Bank Plc. has said the Federal High Court of Nigeria has sanctioned the Scheme of Merger pursuant to which Access Bank Plc will acquire its entire issued share capital through a cash and share exchange. All conditions to the merger, including the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) …
Source: Daily Trust - 🏆 13. / 51 Read more »
Acquisition: Court approves Access Bank's share allotment to Diamond Bank's shareholdersAcquisition: Court approves Access Bank’s share allotment to Diamond Bank’s shareholders
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Police made N10.3m from money fixed in Wema Bank in 2016, Witness tells Court – Daily TrustA prosecution witness, Maifuwa Aibangbe, on Thursday informed an FCT High Court, Apo that N10.3 million interest was paid to the Nigeria Police in 2016 from the N300 million kept in a fixed deposit account in Wema Bank Plc. Aibangbe, a Business Development Manager with Wema Bank Plc, informed court while testifying in the fraud …
Source: Daily Trust - 🏆 13. / 51 Read more »