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Firm to delist shares on suspension from stock market


The ordinary shares of Paints and Coatings Manufacturers Plc have been suspended from active trading on the floor of the Nigerian Stock Exchange (NSE) effective Wednesday, May 30, 2018, a market circular to all dealing members has indicated.

The circular obtained by our correspondent explained that the technical suspension of trading in the shares of the company was to align with the effective date for determining the shareholders who will qualify to receive the scheme shares ahead of the implementation of the voluntary delisting of the company.

The shares of the company last trading on Monday closed flat at 59 kobo per share. With outstanding shares of 792.9 million the company’s market capitalization is pegged at N467.8 million

Incorporated in 2001, the company got listed on the industrial goods sector of the NSE in 2010.

The company manufactures chemicals, marine, protective, industrial, decorative and architectural coatings and paints and related products.