A few months back, a delisting exercise conducted by the Nigerian bourse affected 11 Plc (formerly Mobil Oil Nigeria Plc), which voluntarily exited the NGX following a resolution passed at the Annual General Meeting last year in favour of the proposal to delist its 360,595,262 ordinary shares listed on the bourse.
“The purpose of delisting is to enable the company explore strategic opportunities, alliances and collaborations that can bolster earnings and/or provide synergised benefits with little or no regulatory obligations,” the company said in February this year.
