Transcorp Hotels Gets 3-yr Extension on Free float Compliance

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Goddy Egene

The Board of Directors of Transcorp Hotels Plc has received the approval of the Council of the Nigerian Stock Exchange (NSE) to extend its free float compliance by three years to 2023.

In a notification to all stakeholders, Transcorp Hotels Plc said the extension would enable it to comply with the NSE’s free float requirements of 20 per cent issued and fully paid share capital or N20 billion free float market capitalisation for companies listed on its Main Board.

According to the company, it remains strong and committed to good corporate governance and to delivering value to all its stakeholders.