Notore Plc has secured approval from the Nigerian Exchange Limited (NGX) to voluntarily delist its entire 4,030,165,500 ordinary shares from the Exchange’s daily official list, effective June 3, 2025. This comes five years after the company’s listing by introduction in 2018.
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The delisting follows a November 21, 2024, announcement where Notore disclosed an offer from its core shareholders—Kwararafa Africa Limited, TY Holdings Limited, and Notore Chemical Industries (Mauritius) Limited—to acquire all shares held by minority shareholders. The acquisition is structured as a Scheme of Arrangement under Section 715 of the Companies and Allied Matters Act 2020 (as amended).
Minority shareholders approved the scheme at a court-ordered Extraordinary General Meeting (EGM) held on March 27, 2025, following its convening on February 1, 2025.
Vetiva Securities Limited and Lighthouse Capital Limited served as stockbrokers, while Vetiva Advisory Services Limited and Lighthouse Capital NG acted as issuing houses and financial advisers. OAKE Legal provided legal counsel for the transaction.
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