{"id":30669,"date":"2019-03-20T14:08:32","date_gmt":"2019-03-20T13:08:32","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=30669"},"modified":"2019-03-20T14:08:32","modified_gmt":"2019-03-20T13:08:32","slug":"nse-suspends-trading-in-diamond-bank-shares","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/","title":{"rendered":"NSE Suspends Trading In Diamond Bank Shares"},"content":{"rendered":"

Trading in the shares of Diamond Bank Plc has been placed on full suspension following the court sanction of the Scheme of Merger with Access Bank Plc.<\/p>\n

The Nigeria Stock Exchange, in a notification to its dealing members posted on its website on Wednesday, said that the full suspension takes effect from March 20 (today).<\/p>\n

\u201cDealing members are hereby notified that following the court sanction of the Scheme of Merger (Scheme) between Access Bank Plc and Diamond Bank Plc, trading in the shares of Diamond Bank has been placed on full suspension,\u201d it stated.<\/p>\n

The Exchange said that the suspension was required to prevent trading in the shares of the bank in order to determine shareholders who would qualify to receive the scheme consideration.<\/p>\n

It noted that Diamond Bank obtained the court sanction of the scheme on March 19, being the effective date of the scheme.<\/p>\n

The NSE stated that the bank\u2019s shareholders passed a resolution approving the merger between Diamond Bank and Access Bank Plc at the court ordered meeting of the bank held on March 5.<\/p>\n

The\u00a0News Agency of Nigeria<\/em>\u00a0reports that the Exchange will de-list Diamond Bank from the daily official list at the exchange after the merger.<\/p>\n

NAN reports that the shareholders of Diamond Bank and Access Bank at an Extraordinary General Meetings of both banks gave approval for the merger.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Access Bank Chief Executive Officer, Mr. Herbert Wigwe, told shareholders at the EGM that the merger enabled Access Bank to acquire a bank with 17 million retail customers and the most viable mobile payment platform.<\/p>\n

Wigwe said that the expected revenue and cost synergies were material and promised significant long term value.<\/p>\n

He said the bank, after the merger, would attract more opportunities such as trade finance from international partners.<\/p>\n

\u201cWith the final merger of both banks and the status of the resulting entity as \u2018the largest bank in Africa\u2019s largest economy,\u2019 this greatly bolsters the bank\u2019s brand, opening doors of opportunity both in local and international markets,\u201d he said.<\/p>\n

He said the merger was expected to produce the largest banking group in Africa based on its number of customers with more than 29 million customers.<\/p>\n

\u201cThe resulting entity which will maintain the brand name Access Bank, but with Diamond Bank colors, will have more than 29 million customers, 13 million of whom are mobile customers,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Trading in the shares of Diamond Bank Plc has been placed on full suspension following the court sanction of the Scheme of Merger with Access Bank Plc.<\/p>\n","protected":false},"author":6,"featured_media":30629,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[740,575],"coauthors":[2391],"class_list":["post-30669","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-nse","tag-sec"],"yoast_head":"\nNSE Suspends Trading In Diamond Bank Shares - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NSE Suspends Trading In Diamond Bank Shares - National Wire\" \/>\n<meta property=\"og:description\" content=\"Trading in the shares of Diamond Bank Plc has been placed on full suspension following the court sanction of the Scheme of Merger with Access Bank Plc.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-20T13:08:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/03\/access-diamond.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"330\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/03\/access-diamond.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/03\/access-diamond.jpg\",\"width\":600,\"height\":330,\"caption\":\"access bank\/diamond bank merger\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/\",\"name\":\"NSE Suspends Trading In Diamond Bank Shares - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/#primaryimage\"},\"datePublished\":\"2019-03-20T13:08:32+00:00\",\"dateModified\":\"2019-03-20T13:08:32+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NSE Suspends Trading In Diamond Bank Shares\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"NSE Suspends Trading In Diamond Bank Shares - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/","og_locale":"en_US","og_type":"article","og_title":"NSE Suspends Trading In Diamond Bank Shares - National Wire","og_description":"Trading in the shares of Diamond Bank Plc has been placed on full suspension following the court sanction of the Scheme of Merger with Access Bank Plc.","og_url":"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/","og_site_name":"National Wire","article_published_time":"2019-03-20T13:08:32+00:00","og_image":[{"width":600,"height":330,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/03\/access-diamond.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/03\/access-diamond.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/03\/access-diamond.jpg","width":600,"height":330,"caption":"access bank\/diamond bank merger"},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/","name":"NSE Suspends Trading In Diamond Bank Shares - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/#primaryimage"},"datePublished":"2019-03-20T13:08:32+00:00","dateModified":"2019-03-20T13:08:32+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/nse-suspends-trading-in-diamond-bank-shares\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"NSE Suspends Trading In Diamond Bank Shares"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/30669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=30669"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/30669\/revisions"}],"predecessor-version":[{"id":30670,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/30669\/revisions\/30670"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/30629"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=30669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=30669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=30669"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=30669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}