Reclassification of Eterna Plc as Medium C Stock

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 Dealing members are hereby notified on the reclassification of Eterna Plc from Low Priced Stock to Medium Priced Stock as part of its segmentation program.

 The Nigerian Stock Exchange (NSE) quoted companies have been classified into three categories, High Priced, Medium Priced and Low Priced Stocks, based on their market price. This review provided the basis for reclassifying Eterna Plc from Low Priced Stock to Medium Priced Stock.

 For upwards or downwards movement of price to occur on any security that is priced at below N5 and listed on The NSE, stockbrokers are required to trade a minimum volume of 100,000 units of shares and above. Conversely, for securities priced at N5 and above, stockbrokers could move prices of this medium priced stocks with 50,000 units of shares. These Medium Priced stocks are securities that have traded an average of N5 or more per share and below N100 in four out of the last six months period.

 Eterna gained above the N5 mark on 8 January 2018 and trades above N5 up till close of business on 29 June 2018. This indicates that Eterna Plc has traded above N5 in at least 4 out of the last 6 months and therefore would be reclassified from Low price stock to Mid-price stock with effect from today, 16 July 2018.

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