Forte Oil Notifies of Take-Over Offer from Ignite Investments and Commodities Limited

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Thursday, October 24, 2019 /  10:26 AM / NSE / Header Image Credit: Ventures Africa


Forte Oil Plc ("Forte") hereby notifies The Nigerian Stock Exchange ("The Exchange"), its shareholders and other stakeholders that it has received communication from Ignite Investments & Commodities Limited (‘Ignite") on the issuance of the Securities and Exchange Commission (SEC) Registration of the Take-Over Offer document. The notice of the Take-Over Offer ("Offer Notification"), which will be published in two (2) national newspapers, is herewith attached.

We have been informed that the qualification date to determine shareholders to receive the Take-Over Offer document is Friday, 25 October 2019. The Acceptance Form, which will be pre-printed with the details of qualifying shareholders, will be enclosed in the Take-Over Offer document that will be dispatched to qualifying shareholders.

This advertisement is being published in compliance with the Rules and Regulations of the Securities &Exchange Commission

TAKE-OVER OFFER

(UNDER PART XII OF THE INVESTMENTS AND SECURITIES ACT, No. 29, 2007)

BY

IGNITE INVESTMENTS AND COMMODITIES LIMITED

(RC 1545583)

        FOR UP TO 500,000 ORDINARY SHARES IN

FORTE OIL PLC

  (RC 4119)

      AT

      N66.25 PER SHARE

    ACCEPTANCE OPENS: 04 November 2019

    ACCEPTANCE CLOSES: 25 November 2019

Actions to be taken by Shareholders of Forte Oil Pic who wish to accept the Offer

 

The Take-Over Offer document has been sent directly to Qualifying Shareholders (i.e. shareholders of Forte Oil Plc ("Forte Oil") as at the Qualification Date of 25 October 2019). Qualifying Shareholders will receive the Take-Over Offer Document incorporating an Acceptance Form for use in connection with the Offer. However, Qualifying Shareholders who are yet to receive the Take-Over Offer document by 04 November 2019 are advised to contact Veritas Registrars Limited at Plot 89a, Ajose-Adeogun Street, Victoria Island, Lagos or by Telephone on +234 1- 2784167- 8 or by email at enquiry@veritasregistrars.com. 

Qualifying Shareholders who wish to tender some or all of the ordinary shares should complete the Acceptance Form in accordance with the instructions printed thereon. The completed Acceptance Form, which should be stamped and signed by the Qualifying Shareholder’s stockbroker together with their statement of CSCS account, should be submitted to Veritas Registrars Limited at Plot 89a, Ajose-Adeogun Street, Victoria Island, Lagos, so as to be received by no later than 5:00 pm on 25 November 2019.

Qualifying Shareholders who hold ordinary shares in certificated form and wish to tender some or all of the ordinary shares are required to dematerialise their shares via their stockbroker in order to be eligible to participate in the Take-Over Offer.

Recipients of the Take-Over Offer Document who have sold or otherwise transferred all their shares in Forte Oil Plc, should please forward this document to the purchaser, or agent through whom the shares were sold, for transmission to the purchaser.

Acceptances to the Take-Over Offer may be delivered by post/mail, courier or by hand (during normal business hours). Qualifying Shareholders tendering their shares should please note that the method of delivery of their completed Acceptance Form and CSCS statements is at their selection and risk. Qualifying Shareholders delivering their Acceptance Form and supporting documents by post from within and outside Nigeria should please consider the length of time it typically takes for documents sent by post to be delivered to their destinations. Please note that Acceptance Forms and CSCS statements sent by post/mail, courier or by hand (during normal business hours), will be solely at the risk of the Qualifying Shareholders tendering their shares.

  

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