IN BRIEF: Lekoil Nigeria proposes to buy Lekoil shares at premium

Lekoil Ltd - oil and gas exploration and production company with a focus on Nigeria and West ...

Alliance News 3 December, 2021 | 7:14PM
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Lekoil Ltd - oil and gas exploration and production company with a focus on Nigeria and West Africa - Lekoil Nigeria - in which Lekoil holds a 40% interest - proposes the acquisition of all shares in Lekoil it does not own at a 100% premium to its last trading price before its suspension at the end of September, which at 0.95 pence values the deal at 1.90p per share.

In addition, Lekoil Nigeria has proposed the acquisition of shares in Lekoil from shareholders, exchanging them for shares in Lekoil Nigeria.

The company says it will give further details on the proposal on December 14.

Current stock price: 0.95 pence

Year-to-date change: suspended

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Lekoil Ltd 0.95 GBX 0.00 -

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