JAPAULOIL to Pull Out of the Transaction with Milost Global Inc


Wednesday, May 09, 2018 02.45 PM / NSE  

We write in relation to the above subject with reference to our public announcement of February 19, 2018.

Japaul Oil and Maritime Services Plc wishes to notify its stakeholders that the Board of the Company at its meeting held on Thursday, 29 March 2018 deliberated on the proposed equity injection by Milost Global Inc.

The Board resolved that in view of the numerous red flags associated with the proposed equity injection that Management should in consultation with the Company’s retained Counsel take prompt steps to pull out of the transaction in a non-prejudicial manner. 

Further development regarding this transaction will be communicated in due course.


Proshare Nigeria Pvt. Ltd.

Related News 

1.        JAPAULOIL Declares N3202bn Loss in Q1 2018 Result,(SP:N0.46k)

2.       JAPAULOIL Declares N13.21bn Loss in 2017 Audited Result,(SP:N0.57k)

3.       JapaulOIL Records 38% YTD Return In 2018

4.       JAPAULOIL Secured Equity Financing Facility of $350 Million with Milost Global Inc

5.        JAPAULOIL Declares N4.50 billion Loss in Q3''17 Result,(SP:N0.50k)

6.       Japaul Oil and Maritime Services Plc Appoints Mr. Akinloye Daniel Oladapo as Ag. Managing Director

7.       JAPAULOIL Declares N2.72 billion Loss in Q2'17 Result,(SP:N0.50k)

8.       JAPAULOIL Declares N519.73 million Loss in Q1'17 Result,(SP:N0.50k)

9.       JAPAULOIL Declares N22.51 billion Loss in 2016 Audited Result,(SP:N0.50k)

10.   JAPAULOIL Declares N3.41 billion Loss in Q3'16 Result,(SP:N0.50k)

11.     JAPAULOIL Declares N2.30 billion Loss in Q2'16 Result,(SP:N0.50k)



Related News