UNION DIAGONISTICS DELISTING: Shareholders Lament, accuse Dr Akinniyi of Exploitation

UNION DIAGNOSTICS & CLINICAL SERVICES, a business own by one Dr Ambrose Akinniyi with a small diagnostics centre somewhere in Tejuosho Lagos around 2007, came up with a private placement which he was finding difficult to sell. Through the sincere help of media partnership and supports, especially from the Stockswatch Group, the placement was oversubscribed to the extent that monies were returned and subscriptions declined. The placement was done at N1.85 in 2007. The stock was listed in 2008 at N3.00.Between 2008 and now, I guess the company had only declared about 20kobo dividend in all. The company even went into reporting losses until recently. The price plummeted to 28kobo as at March this year. Dr Akinniyi has now delisted, paying investors at 35kobo. Well, investors and analysts believe this is a Daylight Robbery and nothing more. Watch this conversation for insight.

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