BREAKING: 11 Plc to delist from NSE

11 Plc is looking to delist from the Nigerian Stock Exchange.

This is coming after the Board of Directors held a meeting on February 27, 2020, considered and approved the decision.

However, 11 Plc's decision to exit the Nigerian Bourse is subject to shareholders' approval at the next Annual General Meeting slated for June 3, 2020.

In line with the NSE rules, shareholders of the company will have a 90-day window on voluntary delisting to decide on the exit plan to offer shareholders.

In addition to this, the fuel and lubricant brand is trying to restructure the company's business by transferring its real estate unit to 11 Hospitality Limited, the new subsidiary of the company, for optimum return on investment, whilst 11 Plc will concentrate more on the downstream sector of its business.