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VFD Group shares delisted from NASD OTC Exchange 

VFD Group Plc has seen its shares delisted from the NASD OTC Exchange. 

This was disclosed via an official statement which was sent to the NASD Exchange and seen by TheTimes. 

Here’s an excerpt from the statement: 

  • Under the Company’s request to delist from the NASD OTC Exchange, we wish to inform you that VFD Group PLC shares will be delisted with effect from the Close of Business (COB) today, Thursday, September 28, 2023. 
  • At the Annual General Meeting of VFD Group PLC, which held on Thursday, May 25, 2023, It was resolved and approved that subject to obtaining the relevant regulatory approvals and compliance with all applicable Regulatory requirements, the shareholders approved the voluntary delisting of the issued and fully paid-up Ordinary shares of VFD Group PLC from NASD OTC Securities Exchange.  

More on VFD Group 

TheTimes reported that VFD Group released its unaudited financial statements for the period ended 30th June 2023 (Q2 2023) in which the group recorded a pre-tax profit of N3.8 billion in Q2 2023, compared to N2.7 billion in Q2 2022 (38% growth YoY).  

Commenting on the results, the GMD/CEO, Nonso Okpala, said: 

  • “Given the current economic headwind, our half-year result reflects the viability of our business model and dedication to execution within the Group. This has led to a pre-tax profit of N3.8bn, a remarkable year-on-year growth of 38%. 
  • Looking ahead, we remain committed to harnessing the potential of our investment ecosystem to drive efficiency, boost revenue, enhance profitability, and ultimately maximize shareholders’ value.” 

The Group also recently redeemed N4.2Billion series 1 Commercial Paper under its N20bn programme.  

The Group CEO emphasized the significance of the successful redemption and its implications for the group’s strategic direction, saying,  

  • “This redemption is a significant achievement for VFD Group and marks another crucial step in our journey towards financial stability and growth. 
  • Our diverse portfolio has enabled us to adapt and thrive in the face of volatile market conditions, and we remain committed to unlocking value for all of our stakeholders.” 

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