Exchange-Listed Companies
Oando Plc has confirmed it has received an offer from its core shareholder Ocean and Oil Development Partners (OODP) to acquire the shares it does not already own in the company. Information contained in a company release in June 2022, stated that OODP held a 57.37% stake with minorities holding the remaining 42.63%. Under the scheme, shareholders will receive ₦7.07 in cash, representing a 58% premium to the last traded share price of Oando on 28 March 2023. In June 2022 a petition was filed with the Federal High Court, Lagos Division for and on behalf of Oando’s minority shareholders led by Venus Construction, requesting that the Court orders the buyout of their entire shareholding.
In accordance with its strategic review of operations, RCL FOODS has entered a binding agreement with EMIF II Investment, to dispose of Vector Logistics for a total cash consideration of R1,25 billion. Earlier this month, the Company resolved to separate its value-added branded businesses from its poultry and logistics operation in order to better position them for optimal growth as independent entities.
PBT Group subsidiary Halliard International Besloten Vennootschap is to dispose of its entire shareholding in Payapps, a global provider of construction payment management Software as a Solutions service. The acquirers, existing shareholders IFM Growth Partners, Saniel Ventures and the Jasper Foundation will pay A$14,35 million (R175,57 million) in cash for the stake. The group intends to distribute the net proceeds to shareholders in the form of a cash distribution.
Murray & Roberts United Kingdom has entered into an agreement with AvidSys Group, in terms of which the company will dispose of its 65% shareholding in Insig Technologies. The disposal consideration for the Perth-based mining technology company was A$1, with AvidSys assuming A$7 million of Insig’s liabilities.
The mandatory offer to Sable Exploration and Mining (SEAM) minority shareholders closed on 24 March with 428,233 shares tendered, representing a 9.8% equity stake in the company. PBNJ now holds 2,6 million SEAM shares representing 59,9% of its issued share capital.
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