TY Holdings Increases Stake in BOC Gases to 72%

By Dipo Olowookere

The management of BOC Gases Nigeria Plc has announced the increase of the stake of TY Holdings Limited in the company to 72 per cent.

Business Post reports that TY Holdings, owned by a retired army general, Mr Theophilus Yakubu Danjuma, recently acquired 60 per cent of the organisation’s stocks amounting to 249,746,823 units from BOC Holdings UK.

Before the purchase, he had only 12 per cent shareholding of the firm but the latest acquisition increased his stake to 72 per cent, making him the largest shareholder.

A statement signed by the company secretary, Mrs Ronke Segun-Alabi, disclosed that the ownership of the organisation has been transferred to TY Holdings with effect from August 13, 2021.

“BOC Gases Nigeria Plc wishes to notify Nigerian Exchange (NGX) Limited and the investing public that TY Holdings has acquired additional 249,746,823 ordinary shares in BOC Gases Nigeria Plc, being 60 per cent of the entire shares in the company previously owned by BOC Holdings UK (a member of the Linde Group).

“This purchase is in addition to the existing 12 per cent shares of the Company owned by TY Holdings prior to this transaction bringing the ownership of TY Holdings in BOC Gases to 72 per cent.

“This change in the ownership of BOC Gases is effective August 13, 2021,” parts of the statement said.

“BOC Gases assures its esteemed shareholders and the public that the company will make certain that it sustains the reputation and standing it has built for over the last 62 years,” the concluding part of the statement disclosed.

Established in 1989, TY Holdings Ltd is a Private Limited Company based in Lagos, with five branches, subsidiaries and associated companies.

BOC Gases Nigeria is engaged in the manufacture of industrial and medical gases and the sale of special gases, welding and medical equipment with a network of distributors and agents across the country.