Forte Oil (FO) Plc on Monday
notified its shareholders of plans for a name change to Ardova Plc.
The company stated this in a
notice of Extra General Meeting (EGM) posted on the Nigerian Stock Exchange
(NSE) web site and signed by Oladeinde Nelson-Cole, the acting Company
Secretary.
The company would be seeking
shareholders resolution for a name change at an EGM slated for Dec. 17.
Nelson-Cole said that the
company’s directors at the meeting would be empowered to authorise, approve,
sign or execute all documents and appoint advisers regarding the matter where
necessary.
The acting company secretary said
that they were also expected to comply with the directives of regulatory
authorities to make the name change possible.
Nelson-Cole noted that the
register of members and transfer of books of the company would be closed from
Dec. 6 to Dec. 15, for the purpose of attending the EGM.
The News Agency of Nigeria (NAN)
reports that share price of Forte Oil Plc reached a new high on June 19, driven
by record off-market trading as Nigeria’s billionaire businessman, Femi
Otedola, completed the sale of his stake in the oil and gas company.
Specifically, a total of
970,166,694 units of FO were done as off-market trades at N66.25 per share.
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