Home Life Style Cedar Advisory Partners Ltd. turns into greatest shareholder as Union Diagnostics Plc delists from NGX

Cedar Advisory Partners Ltd. turns into greatest shareholder as Union Diagnostics Plc delists from NGX

by Good News

The Nigerian Change has officially delisted Union Diagnostic and Clinical Services Plc from its indispensable board following the conclusion of its scheme of association.The clinical diagnostics company had earlier in September 2021, notified the Change of its decision to delist from the Change’s board.The disclosure acknowledged that, “The shareholders unanimously authorized the delisting of the Company’s shares on the final Annual Long-established Assembly and Court Ordered Assembly held on the 25th of January, 2021. The Company has obtained all associated regulatory approvals from Securities Change Rate (SEC), the Nigerian Change Restricted, Federal High Court, Federal Competitors and User Protection Rate (FCCCP)”.In maintaining with the Scheme of association published in January 2021 by the company, 1,407,855,051 units of shares held by the scheme shareholders had been to be obtained by Cedar Advisory Partners Restricted (“Cedar”), an novel shareholder with a complete of 20.04% shareholdings.What this meansThe transaction fervent the transfer of 1,407,885,051 units of shares to Cedar in consideration for money price of 35 kobo per portion to the scheme shareholders, taking the total money consideration to N492,759,767.85. Upon the conclusion of the transaction, the company has been delisted from the Change.The decision to delist from the Change by the company used to be motivated by obvious challenges across the incapacity to enhance capital to fund expansions, the engrossing working environment and solid headwinds particularly referring to dejected successfully being-in quest of behaviour of Nigerians, wicked underfunding of the healthcare sector and depreciating change rates which hang an ticket on the importation of consumables.Following the delisting, the post-scheme shareholding structure entails, Cedar Advisory Partners Restricted, Lifecare Partners Restricted, Akinniyi Ambrose Olusola, Akinniyi Elizabeth Abimbola emerged as the shareholders of the company with a respective shareholding of two,119,771,663; 1,038,000,000; 233,462,131; 161,904,734, reaching a complete of three,553,138,528 units of shares.What it is probably going you’ll maybe per chance serene know about the majority shareholders of Union DiagnosticsCedar is an investment company that specializes majorly within the successfully being care ecosystem with a highlight on enhance capital investments and price creation thru working turnaround. Cedar Advisory Partners Restricted holds 59.66% shareholdings within the company following the acquisition.Lifecare Partners Restricted is an authorized HMO in Nigeria, holding 29.21% shareholding in Union Diagnostics Plc. Dr. Akinniyi Olusola, a Director of Union Diagnostics Plc, currently owns 98.50% of fairness passion in Lifecare Partners Restricted.

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