NSE Stops Trading of 7up Shares by Investors

By Modupe Gbadeyanka

Trading of shares of Seven Up Bottling Company Plc by investors on the floor of the Nigerian Stock Exchange (NSE) has been stopped.

This followed the full suspension placed on the shares of the firm as a result of purchase of all outstanding and issued shares of the firm not currently owned by Affelka, the company’s majority shareholder.

A statement issued by the NSE’s Head of Listings Regulation Department, Mr Godstime Iwenekhai, disclosed that suspension took effect from January 12, 2018.

“Dealing Members are hereby notified that trading in the shares of 7-Up Bottling Company Plc has been placed on full suspension on the Nigerian Stock Exchange (NSE) with effect from today, 12 January 2018.

“The suspension is for the purpose of determining the shareholders who will qualify to receive the Scheme consideration following the decision of the company’s majority shareholder, Affelka S.A (Affelka), to acquire all outstanding and issued shares of 7-Up Bottling Company Plc that are not currently owned by Affelka.

“The company’s shareholders passed a resolution to this effect at the Court Ordered Meeting of the company held on Thursday, 11 January 2018.

“The Scheme will result in the voluntarily delisting of 7-Up Bottling Company Plc from the Daily Official List of the NSE,” the statement said.