11 Plc Extends the Dissenting Period for Delist

11 Plc on Tuesday said it has extended the one-month period given to shareholders to elect to accept the Exit Consideration by another 10 working days.

The company disclosed in a statement released on the Nigerian Stock Exchange (NSE).

11 Plc formerly known as Mobil Oil Nigeria Plc had highlighted plans to delist from the Nigerian Stock Exchange on 9th February 2021, saying the company’s shareholders have between February 1, 2021 to March 1, 2021 to accept the Exit Consideration of the Company.

According to the company, the extension was to allow shareholders enough time to make their decision and ensure a fair process.

Therefore, shareholders that still wish to dissent were asked to forward their completed election forms to the Registrar- Greenwich Registrars & Data Solutions Limited located at 274 Murtala Muhammed Way, Alagomeji-Yaba on or before Monday, 15th of Match 2021.

11 Plc added that “It is however necessary to reiterate that shareholders that intend to remain members of the company are free to remain and may decide to keep their shares (which will be tradable on the NASD OTC platform).”

The company plans to purchase the interest of dissenting shareholders at N213.90 per share, the highest amount the company shares traded in the last six months.