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- FBN Holdings Plc’s has notified the investment community that it will on 28 December 2016 terminate its Global Depositary Receipt programme (GDR) in line with the terms and conditions of the GDR agreement.
- The group in a statement signed by its Company Secretary, Tijjani Borodo and released to the Nigerian Stock Exchange (NSE), said Deutsche Bank Trust Company Americas, in its capacity as the Depositary, has sent a notice to the clearing systems to notify the termination date of 28 December 2016.
- It noted: “If any GDRs are outstanding after the termination date, Deutsche shall, as soon as reasonably practicable, sell the underlying ordinary shares and deliver the net proceeds of such sale to Holders of GDRs which have not previously been surrendered”.
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