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Cadbury Nigeria Plc, has announced the plan to close its share capital on Wednesday, 8 January. A press statement issued by the foremost company insisted that the move is in line with the directive of a Federal High Court.

The statement reads in part: “In compliance with the Board Resolution of the Company dated 13 November, 2013, pursuant to which the directors were authorized to take all actions that are necessary to make the share capital reduction (Capital Reduction) effective, that the register of members of the company be closed with effect from Wednesday, 8 January, 2014. “In view of the capital reduction exercise, the company has requested the Nigerian Stock Exchange to place Cadbury Nigeria Plc’s shares on full suspension from the closure date until the requirements of the court sanction approving the capital reduction have been complied with.”

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