AG Leventis moves to delist from NSE

AG Leventis (Nigeria) Plc has notified the Nigerian Stock Exchange (NSE) that Boval S.A acting on behalf of itself, Leventis Holding S.A., and Leventis Overseas Limited (together, the “Core Shareholders”) has approached the Board of Directors of the Company with an intention to acquire the shares held by other shareholders of the Company at an offer price of 53 kobo per share, and subsequently delist the Company from the Nigerian Stock Exchange.

The offer price of 53 kobo represents a premium of 85 percent to the 60-day volume weighted average share price and 104 percent to the Company’s closing share price on September 23, 2019.

The Proposed Transaction will be implemented under a Scheme of Arrangement in line with section 539 of the Companies and Allied Matters Act, Cap C.20 Laws of the Federation of Nigeria, 2004.

The Proposed Transaction is still subject to the review and clearance of The Nigerian Stock Exchange and the Securities and Exchange Commission (SEC) as well as the approval of the shareholders of the Company. The terms and conditions of the Proposed Transaction will be provided in the Scheme Document which will be dispatched to all shareholders following the receipt of the “no-objection” of the regulators and an order from the Federal High Court to convene a Court-Ordered Meeting.

Stock investors lose additional N149bn as sentiment remains negative

By Iheanyi Nwachukwu • September 25, 2019

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.