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Forte Oil
Stock & Analyst Updates     December 18, 2019
Forte Oil Plc announces the resolutions passed by the Board at its Extraordinary General Meeting which held on the 17th day of December, 2019.
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Public & Private Offers      November 07, 2019
Following the recent announcement by Ignite Investments and Commodities Limited to offer up to 500,000 ordinary shares of Forte Oil Plc (FO) to minority shareholders, the acceptance period of the stated offer has been opened.
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Corporate Results     October 30, 2019
Forte Oil Plc, Petroleum and Petroleum Products Distributors company in Oil and Gas sector announced 30.3% Revenue grow in Q3'19 Result.
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Stock & Analyst Updates     October 30, 2019
Forte Oil Plc (FO: TP N22.01 ) released its 9M'19 earnings result earlier today, announcing EPS of N4.03/share during the nine month period (FY'19E: N4.88/share). 9M'19 performance was bolstered by gains from disposal of assets and interest proceeds from longstanding PMS subsidy receivables.
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Stock & Analyst Updates     October 24, 2019
Forte Oil Plc notifies of receiving communication from Ignite Investments " Commodities Limited on the issuance of the Securities and Exchange Commission (SEC) Registration of the Take-Over Offer document.
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Stock & Analyst Updates     September 04, 2019
Pursuant to the post-listing requirements of The Nigerian Stock Exchange (The NSE) for quoted companies, Forte Oil Pic (the Company) hereby notifies The NSE and the investing public that at the Fortieth Annual General Meeting of the Company held on the 3rd day of September, 2019 at the Bespoke Event Centre
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Stock & Analyst Updates     August 28, 2019
On 24 June 2019, Ignite Investments acquired 970,166,694 Ordinary Shares representing a 74.02% equity stake in Forte Oil from Zenon Petroleum " Gas Limited ("Zenon Petroleum"), Thames Investment Incorporated ("Thames Investment") and Femi Otedola, for a cash consideration of N66.25 per share
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Stock & Analyst Updates     August 07, 2019
Forte Oil Plc hereby notifies the Nigerian Stock Exchange that it has received the Corporate Affairs Commission’s approval for the extension of time to convene Its 40th Annual General Meetings (AGM).
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People     July 03, 2019
Forte Oil Plc notifies of the resignation of Mr. Akinleye Olagbende as General Counsel & Company Secretary of the Company.
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Stock & Analyst Updates     May 17, 2019
After the recent sale of the power and upstream businesses in Nigeria as well as the downstream operation in Ghana, Forte Oil Plc (FO) is well positioned for growth through an expansion of itsretail footprint in the Nigerian downstream oil and gas space.
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Stock & Analyst Updates     May 04, 2019
That as part of the steps towards, the divestment from and sale of its subsidiaries in Amperion Power Distribution Company Limited, the company has entered into a Share Sale and Purchase Agreement with Calvados Global Services Limited (the ‘Amperion Divestment’);
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Stock & Analyst Updates     January 17, 2019
Notice is hereby given that an Extraordinary General Meeting (“EGM") of Forte Oil Plc. (“the Company”) will hold at the Bespoke Event Centre, Lekki- Ajah Expressway, Lagos on 7th of February, 2019 at 10.0oa.m, to consider, and if thought fit, to pass, with or without amendment, the following resolutions of the Company:
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Regulators     September 28, 2018
Forte Oil Plc has expressed reservations over the inclusion of its name in an article published on September 25, 2018 vide SkyeBank - The Rise, The Fall And The Bridge in relation to any possible involvement.
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Stock & Analyst Updates     September 03, 2018
Having received approval from its shareholders in May 2018 to dissolve its subsidiaries, FO released its first financials detailing the performance of both the continuing and the discontinued operations1. As at H1 18, revenue from discontinued operations printed at N21 billion (vs N18 billion in H1 17), with net earnings of N7.8 billion, accounting for 99% of the company’s profit. Using comparable company analysis, the minimum expected proceed for the discontinued operations stands at N49.7 billion which is still a premium to its current net asset value (NAV) of N35 billion.
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Stock & Analyst Updates     May 25, 2018
Pursuant to the post-listing requirements of the Nigerian Stock Exchange (NSE) for quoted companies, Forte Oil Plc (the Company) hereby notifies the NSE that at the Thirty-Ninth Annual General Meeting of Forte Oil Plc held on the 23rd day of May, 2018 at the Bespoke Event Centre Lekki-Ajah Expressway, Lagos, the shareholders of the Company duly approved the following resolutions:
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Stock & Analyst Updates     May 16, 2018
FO’s Q1’18 numbers were quite decent, beating our estimates across most line items. Meanwhile, the mixed performance across the company’s business segments persisted in Q1’18.
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Stock & Analyst Updates     May 03, 2018
Nigerian energy firm, Forte Oil Plc has said it plans to sell its upstream services and power businesses in Nigeria and divest from Ghana to focus on its core business of fuel distribution operation at home, according to a report by Reuters on Wednesday.
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Products & Services     April 26, 2018
Pursuant to the post - listing requirements of the Nigerian Stock Exchange (NSE) for quoted companies, Forte Oil Plc (the Company) hereby notifies the NSE, that the Company has obtained exclusive rights for the distribution of Chevron's Havoline Motor Oils.
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Stock & Analyst Updates     April 11, 2018
FO released its FY’17 results last week, reporting stronger y/y earnings growth for the Group despite mixed performances across its four business lines.
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Stock & Analyst Updates     October 17, 2017
Despite posting a 20% y/y drop in 9M’17 revenue to ₦96.9 billion, FO reported a 23% y/y growth in 9M’17 EBIT to ₦9.7 billion, lagging our estimate by 22%.
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Stock & Analyst Updates     February 11, 2020
Forte Oil Plc announces the approval from CAC to Change its name to ARDOVA Plc.
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Stock & Analyst Updates     May 24, 2018
Shareholders today approved the divestment plan of Forte Oil Plc from its subsidiaries, as part of its restructuring plan.
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Stock & Analyst Updates     May 04, 2018
Forte Oil Plc issued a press release on its divestment intentions to support its strategic expansion by repositioning its downstream marketing business.
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Health     January 18, 2022
Mrs. Emmanuelle Blatmann, Ambassador of France to Nigeria and Mrs. Zainab Ahmed, Federal Minister of Finance, Budget " National Planning, signed on 13 January the first loan from the Treasury to Nigeria since 1990.
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Stock & Analyst Updates     January 18, 2022
This is to notify The Nigerian Exchange (NGX) and the Market that a meeting of the Board of Directors of Guinness Nigeria Plc will hold on Wednesday, 26 January 2022 for the purpose of considering and approving the financial results for the quarter ended 31st December 2021, amongst other matters.
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World Bank IMF and Dev Agencies     January 18, 2022
The global recovery is set to decelerate markedly amid continued COVID-19 flare-ups, diminished policy support, and lingering supply bottlenecks. In contrast to that in advanced economies, output in emerging market and developing economies (EMDEs) will remain substantially below the pre-pandemic trend over the forecast horizon.
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Stock & Analyst Updates     January 18, 2022
We hereby give The Nigerian Exchange (NGX) and the investing public notice that Unilever Nigeria Plc. will hold its Board Meetings in 2022
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Stock & Analyst Updates     January 18, 2022
The next Board Meeting of Presco PLC, will hold as scheduled at Dura Club, Obaretin Estate, Km 22 Benin/Sapele Road, tkpoba/Okha LGA, Edo State, Nigeria, on Wednesday January 26, 2022, at 9.00 am prompt.
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Stock & Analyst Updates     January 18, 2022
In accordance with the relevant provisions of the Rule Book of the Nigerian Exchange Limited (NGX), the Closed Period for trading in the shares of Livestock feeds Plc (the "Company") commenced on January 1, 2022 in respect of the unaudited Q4 2021 Financial Statements and Audited Financial Statements for the year ended 31 December 2021 ("2021 AFS").
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Nigeria Economy     January 18, 2022
The December inflation report was released yesterday. Contrary to our projections (14.9%), headline inflation bucked its 8-month declining trend, rising by 0.23% to 15.63% from 15.4% in November 2021. This will partially address the recent controversy surrounding the contrarian direction of inflation in Nigeria
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Market Updates     January 18, 2022
Nigerian Equities Market Closed negative With 0.12% Loss Recorded as against 0.12% Loss witnessed at the end of the previous trading session.
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Stock & Analyst Updates     January 18, 2022
The 73rd Annual General Meeting of PZ Cussons Nigeria Plc will be held at the Command Centre, 45/47 Town Planning Way, Ilupeju, Lagos, Nigeria on Thursday 27 January 2022 at 11.00 am.
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Stock & Analyst Updates     January 18, 2022
Nigerian Exchange Limited (NGX or The Exchange) started the year off with the listing by introduction of BUA Foods Plc on the Main Board of The Exchange. In keeping with its practice of intimating stakeholders with details of notable transactions such as these, NGX hosted the Management of BUA Foods to a virtual Facts Behind the Listing and Closing Gong Ceremony on Tuesday, 18 January 2022.
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Stock & Analyst Updates     January 18, 2022
Stanbic IBTC Holdings Plc wishes to announce that it has commenced the process of seeking Regulatory approvals to establish a wholly-owned Financial Technology subsidiary to be known and referred to as Stanbic IBTC Financial Services Limited.
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Agriculture     January 18, 2022
Thailand plans to decriminalise marijuana, moving a step closer to clearing its use for recreation, after becoming the first country in South-east Asia to legalise medical cannabis and its use in food and cosmetics.
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Islamic Finance     January 18, 2022
It was an interesting session at the just concluded Financial Literacy 2022 maiden conference organized by the International Corporation for Development (ICD) in collaboration with Halfinance Business Consult.
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BlockChain & Cryptos     January 18, 2022
In many ways, 2021 was an outstanding year for the crypto ecosystem in Africa and the rest of the world. Though still heavily impacted by the pandemic, remarkable growth was recorded on the continent, as well as noteworthy progress with innovation, regulation, and adoption.
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Reviews & Outlooks     January 18, 2022
On January 18, 2022, we published Nigeria's macroeconomic and equities outlook for 2022, enunciating our views on the economy, socio-political environment, and the equities and fixed income markets. We project GDP growth to settle at 2.80% in 2022, supported by the oil and non-oil sectors.
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Stock & Analyst Updates     January 18, 2022
This is to inform the Nigerian Exchange Limited (the Exchange) and the investing Public that a meeting of the Board of Directors of Coronation Insurance Plc is scheduled to hold on Thursday, the 27th day of January 2022 to amongst other things review the Company's performance for the fourth quarter of the 2021
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Stock & Analyst Updates     January 18, 2022
LivingTrust Mortgage Bank Plc notifies of dealings of 0.11m Volume of Shares by CitiTrust Holdings Plc
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People     January 18, 2022
This is to inform the Nigerian Exchange Limited (NGX) and the investing public that following the acquisition of 60.9% stake in Eterna Plc by Preline Limited, the Company's Board now comprises of the following persons effective 2 nd November 2021
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Capital Market     January 18, 2022
The Securities and Exchange Commission, Nigeria has been advised to rethink its strategy on investor education in the country, with the focus of decentralizing it and making it inclusive. Mr. Ambrose Omordion, the CEO of Invest Data emphasized this while exploring the opportunities for achieving a vibrant Nigerian capital market that could attract retail investors across the country.
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Nigeria Economy     January 18, 2022
The latest inflation report published by the National Bureau of Statistics (NBS) showed that December's headline inflation reading unexpectedly increased by 23bps to 15.63% y/y. The rise in the headline reading is the first after eight consecutive months of slowdown, mostly driven by favourable base effects.
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