DVCF Oil Divests 997,012 Shares from The Initiates

The Initiates Plc on Tuesday announced that DVCF Oil and Gas Plc, a substantial shareholder, sold 997,012 ordinary shares of The Initiates between August 10 and 12, 2020.

A break down of the transactions showed DVCF Oil and Gas sold 103 units at N0.70 per share on August 10, 2020 at the Nigerian Stock Exchange.

On August 11, 2020, DVCF Oil and Gas sold another 546,909 units at N0.70 a unit share on the Nigerian Stock Exchange in Lagos, Nigeria.

Accordingly, DVCF Oil and Gas divested another 450,000 units at N0.70 per share on August 12, 2020 in Lagos, Nigeria.

Therefore, DVCF Oil and Gas divested a combined 997,012 shares from The Initiates in August. See the details below.