AGLEVENT Notifies Of An Offer For The Proposed Buyout Of Other Shareholders of The Company


Tuesday, September 24, 2019 / 03:26PM / By NSE


AG. Leventis (Nigeria) Plc ("AGL" or the "Company") has notified The Nigerian Stock Exchange that Boval S.A acting on behalf of itself, Leventis Holding S.A., and Leventis Overseas Limited (together, the "Core Shareholders") has approached the Board of Directors of the Company with an intention to acquire the shares held by other shareholders of the Company at an offer price of 53 kobo per share, and subsequently delist the Company from the Nigerian Stock Exchange ("The NSE") (the "Proposed Transaction").

The offer price of 53 kobo represents a premium of 85 per cent to the 60-day volume weighted average share price and 104 per cent to the Company's closing share price on 23 September 2019. The Proposed Transaction will be implemented under a Scheme of Arrangement in line with section 539 of the Companies and Allied Matters Act, Cap C.20 Laws of the Federation of Nigeria, 2004.

The Proposed Transaction is still subject to the review and clearance of The Nigerian Stock Exchange and the Securities and Exchange Commission as well as the approval of the shareholders of the Company.

The terms and conditions of the Proposed Transaction will be provided in the Scheme Document which will be dispatched to all shareholders following the receipt of the "no-objection" of the regulators and an order from the Federal High Court to convene a Court-Ordered Meeting.

Further developments will be communicated to shareholders in due course. AGL shareholders are advised to exercise caution in dealing in AGL's shares until further information is provided.

Proshare Nigeria Pvt. Ltd. 

Proshare Nigeria Pvt. Ltd.

Related News

  1. AGLEVENT declares N282.29m Loss in Q2'19 Results,(SP:N0.29k)
  2. AGLEVENT Declares N291.96m Loss in Q1 2019 Results,(SP:N0.30k)
  3. AGLEVENT Announces Delay in Filing of the Company's 2018 AFS
  4. AGLEVENT Declares N545.90m Loss in Q2 2018 Results,(SP:N0.44k)
  5. AGLEVENT Declares N311.12m Loss in Q1 2018 Results,(SP:N0.57k)
  6. AGLEVENT Declares N3.48bn Loss in Q4 2017 Audited Results,(SP:N0.57k)
  7. AGLEVENT declares N1.07 Bln Loss in Q3''17 Results,(SP:N0.56k)
  8. AGLEVENT declares N590.42 million Loss in Q2'17 Results,(SP:N0.72k)
  9. AGLEVENT declares N139.10 million Loss in Q1'17 Results,(SP:N0.72k)

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
Related News