[XNSA]>> RECLASSIFICATION OF MAY & BAKER NIGERIA PLC | InfoWARE Finance
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[XNSA]>> RECLASSIFICATION OF MAY & BAKER NIGERIA PLC
(Source: NSE, Date: 14-Aug-2024)
Reclassification of May & Baker Nigeria Plc from Low Price Stock Group to Medium Price Stock Group Trading License Holders are hereby notified of the reclassification of May & Baker Nigeria Plc from the Low -Priced Stock Group to the Medium -Priced Stock Group, in line with The NGX?s Pricing Methodology framework. Equity securities of Quoted Companies on The Exchange (NGX) are classified into three Stock Price Groups or Categories ? High-Priced, Medium Priced, and Low-Priced Stocks, based on their market price. In this regard, securities must have traded for at least four out of the most recent six-month period within a Stock Price Group?s specified price band to be classified into the category. Accordingly, a review of May & Baker Nigeria Plc stock price and trade activities over the most recent six-month period provides the basis for reclassifying the security from the Low-Priced Stock Group to the Medium-Priced Stock Group. This reclassification also necessitates the attendant change in the tick size change from N0.01 kobo to N0.05 kobo - in line with Rule 15.29: Pricing Methodology, Rulebook of The Exchange, 2015 (Trading License Holders? Rules).
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