Leventis SA, Others to Buy Leventis Nigeria

• Leventis SA, Others to Buy Leventis Nigeria

Boval S.A, Leventis Holding S.A and Leventis Overseas Limited proposed to buyout other shareholders of A.G. Leventis Nigeria and subsequently delist the company from the Nigerian Stock Exchange (NSE).

A.G. Leventis Nigeria on Tuesday notified the Nigerian Stock Exchange that Boval S.A., acting on behalf of itself, Leventis Holding S.A. and Leventis Overseas Limited (Core Shareholders) has offered to acquire the shares held by other shareholders of the Company at 53 kobo per unit share.

The statement read “The offer price of 53 kobo represents a premium of 85 per cent to the 60-day volume weighted average share price and 104 per cent to the Company’s closing share price on 23 September 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 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.”

Therefore, the company advised all AGL shareholders to be cautious when trading AGL shares henceforth.