Est. read time: 1 minute
Nexamont Acquires 21.4% Interest In Royal Exchange
Yinka Olajoyetan, Lagos
Royal Exchange Plc has announced the acquisition of 1.77 billion ordinary shares in the company by Nexamont Company Ltd. This is according to a corporate disclosure released through the Nigerian Exchange Ltd.
The disclosure was signed by Nova Finance Securities Ltd., the financial advisers to Nexamont. It said that the transaction was executed through the secondary market, represented 21.4 per cent equity stake in Royal Exchange Plc.
The statement reads, “Royal Exchange Plc received a letter from Nova Finance Securities Ltd., the Financial Advisers to Nexamont Company Ltd., notifying the Company that Nexamont has acquired 1,770,499,535 units of ordinary shares of Royal Exchange Plc through the secondary market.
“This represents at least 21.4 per cent equity stake in the Company.
“Pursuant to Rule 17.13 (a), Part II of the Rulebook of Nigerian Exchange Ltd., the company wishes to inform the Exchange, its shareholders and the investing public that Nexamont Company Ltd., is now a beneficial owner of 1,770,499,535 ordinary shares in Royal Exchange Plc