Ashaka Cement delists from the NSE

Conoil

After its acquisition by Lafarge Africa, Ashaka Cement PLC has finally delisted itself from the Nigerian Stock Exchange.

The company said in a statement that the application for the Voluntary Delisting of AshakaCem was approved on 25 May 2017 by The Quotations Committee of The National Council of The Nigerian Stock Exchange.

Following the Voluntary Delisting, former shareholders of AshakaCem who have exercised the option to exit the Company prior to the delisting will receive as agreed at the Extra-Ordinary General Meeting held on 9 December 2016; 57 Lafarge Africa Plc shares for every 202 AshakaCem shares previously held as well as a cash consideration of N2 per share.

Please note that shareholders who indicate that they do not want to remain in the unlisted AshakaCem will, in accordance with the Delisting Guidelines of The Nigerian Stock Exchange, be entitled to receive from the Company a payment of N15.74 per share.