Shares Reconstruction: Transcorp Lists Newly Reconstructed 10,161,997,574 Units of Ordinary Shares

Transnational Corporation Plc (Transcorp) has delisted 40,647,990,293 shares from the Nigerian Exchange Limited on Monday and listed a newly reconstructed issued share capital of 10,161,997,574 ordinary shares.

In a statement seen by Investors King, the company said “We refer to our market bulletin with reference number NGXREG/IRD/MB73/24/10/10, dated 10 October 2024, wherein the Market was notified that trading in the shares of Transnational Corporation Plc (Transcorp or the Company) was placed on suspension effective, Thursday, 10 October 2024, in preparation for the share reconstruction of the Company’s Issued shares.

“The Market is hereby notified that the entire 40,647,990,293 issued shares of Transcorp were delisted from the Daily Official List of Nigerian Exchange Limited (NGX) on Monday, 28 October 2024, while the newly reconstructed issued share capital of 10,161,997,574 ordinary shares of 50 Kobo each were also today, listed on the Daily Official List of NGX at N44.2 per share.

“The delisting of 40,647,990,293 ordinary shares and listing of 10,161,997,574 ordinary shares on NGX is pursuant to the approval received from the Company’s shareholders at its Annual General Meeting of 27 May 2024 and the no-objection received from the Securities and Exchange Commission.

“Consequently, following the completion of the share reconstruction, the suspension placed on the securities of the Company has been lifted.”