Ellah Lakes Plc Announces Acquisition of 100% Equity Stake in Telluria Limited

Proshare

 Friday, June 14, 2019  /  03:15PM  /  NSE Press Release / Header Image Credit: Ellahlakes

 

Ellah Lakes Plc (“Ellah Lakes” or “the Company”) today announced the acquisition of 100% equity stake in Telluria Limited (“Telluria”), effective May 7th, 2019. Having complied with all the necessary regulatory requirements, the acquisition was approved by the Nigerian Stock Exchange and by the Securities and Exchange Commission.

The primary objective of the acquisition is to strengthen Company’s balance sheet, restore customer confidence, provide access to new markets, improve operations and create organizational efficiencies that will drive profitability and increase shareholders’ value.

The Board of Directors and Management of Ellah Lakes consider this business combination to be in the best interest of the Company and expect the transaction to;

(a) revitalize management;

(b) create access to diversified expertise and financial strength;

(c) improve administrative and operational and efficiencies of the Company; and

(d) strengthen the Company’s market position by aiding access to new products and markets.

 

Visit  Ellah Lakes Plc IR Page  in Proshare MARKETS

Graph 1: Ellah Lakes Plc – One Year Share Price Movement

 

Proshare Nigeria Pvt. Ltd.


Table: Unaudited Q2 2019 Results 

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Related News

1.       ELLAHLAKES Declares N503.94m Loss in Q2 2018 Results,(SP:N4.26k)

2.       ELLAHLAKES Updates on its On-Going Restructuring

3.      ELLAHLAKES Declares N1.973m Loss in Q1 2018 Results,(SP:N4.26k)

4.      ELLAHLAKES to Hold its AGM on 27th September 2018

5.      ELLAHLAKES Declares N10.79m Loss in Q4 2018 Results,(SP:N4.26k)

6.      ELLAHLAKES declares N9.43 million loss in Q2'16 Result,(SP:N4.26k)

7.      ELLAHLAKES declares N5.70 million loss in Q1 16 Result SP N4.26k


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP