As promised, The Nigerian Stock Exchange held a meeting today with the management of Transnational Corporation of Nigeria(Transcorp) Plc and BGL Securities Limited on the issue of block sales of Transcorp Shares.

At the meeting, all the parties agreed that it was necessary to follow due process during block divestments. The Exchange explained that the portion of the transaction that was cancelled was a result of a MAVERA Injunction.

The meeting also advised that rules and regulations guiding block divestment of shares should be widely circulated to both investors and operators in the nation’s Capital market.

It would be recalled that The Exchange had confirmed in earlier Press Release that it received formal letters from Transcorp Nigeria Plc on Friday, April 1, 2011 regarding the purchase of its shares and promised to call all-parties for a meeting to resolve the issue.

The Exchange hereby assures investors that the management of The Exchange would continue to protect the integrity of the market

Wole Tokede

Senior Manager

Corporate Communications

The Nigerian Stock Exchange