Dipo Olowookere
By Dipo Olowookere
On Tuesday, December 17, 2019, shareholders of Forte Oil, Universal Insurance Plc and Interlinked Technologies Plc will gather to discuss issues bordering on their respective companies. The three events will take place in Lagos State.
Interestingly, two of the three firms would be having their Annual General Meetings (AGMs) at the same venue. These two are Universal Insurance and Interlinked Technologies Plc.
The duo picked NECA House, located on Plot A2, Hakeem Balogun Street, Ikeja, Lagos for their meetings. While the AGM for Universal Insurance is planned to commence at 9am, that of Interlinked Technologies is scheduled to begin at 11am.
In the case of Forte Oil, its investors are meeting for an Extra-Ordinary General Meeting (EGM) to look into the request of the board to change the company’s name to Ardova Plc. This would be done at the Bespoke Event Centre on Lekki-Ajah Expressway, Lagos at 10am.
In addition, the board would seek shareholders’ authorisation to “approve, sign and/or execute all documents, appoint such profession parties and advisers, as may be necessary to give effect to the above resolutions, including without limitation, complying with the directives of any regulatory authority and all acts carried out, steps taken and documents executed (or to be executed) by the directors of the company in connection with the above resolutions be and are hereby approved.”
In June 2019, former majority shareholder of the energy firm, Mr Femi Otedola, sold his 75 percent equity stake in the company to the new owners, Ignite Investments and Commodities Limited.
Mr Otedola, son of a former Governor of Lagos State, late Sir Michael Otedola, divested his shares in the company to focus on a power company known as Geregu Power Plc. The transaction was reported to have worth N65 billion.
Business Post had reported that the businessman sold his entire 982,971,950 ordinary shares of 50 kobo each at N66.01 per unit, amounting to N64.9 billion.
