Stakeholders in the stock market comprising the Nigerian Stock Exchange National Council and members have deferred the demutualisation programme of the Exchange pending an Extra-Ordinary Meeting on the subject.
This resolution was made at the Exchange’s 55th Annual General Meeting held in Lagos on Thursday.
The report of the national council, the financial statements of the Exchange as of December 31, 2015, and the report of the auditors were presented to the members as part of the ordinary business of the day.
Demutualisation is the process through which any member-owned organisation becomes a shareholder-owned company. The company could either be listed on a stock exchange or closely held by its shareholders.