THE shareholders of Union Bank have approved transfer of its Scheme Shares to Titan Trust Bank. Following the subjoined special resolutions as stated in the Notice of Court Ordered Meeting dated May 16, 2023, the Scheme Document dated May 10, 2023 for the bank’s Scheme of Arrangement were approved by Union Bank’s shareholders. As regards the transfer of the Scheme Shares, each holder of the scheme Shares shall receive N7.00 per share transferred. The Nigerian Exchange Limited and Central Securities Clearing System Plc shall be notified and requested to terminate trading in the shares with effect from the eligibility date and no trading or transfer of the bank’s shares shall be registered after that date. all the shares of the bank that were lodged with the CSCS shall be transferred to Titan Trust Bank.

Source: Nigerian Tribune June 26, 2023 12:06 UTC