• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 1, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

After 46 Years, MRS Delists From NGX

Get shareholders’ approval, to pay N46.29bn

by Olushola Bello
1 year ago
in Business
NGX
Share on WhatsAppShare on FacebookShare on XTelegram

MRS Oil Nigeria Plc has received shareholders’ approval to voluntarily delist all of its issued shares from the Nigerian Exchange Limited’s daily official list (NGX) after 46 years of being listed on the Exchange.

Advertisement

The company is offering to pay N46.29 billion to shareholders as part of the delisting process. This move comes as several other companies have also recently delisted or announced plans to delist from the Nigerian stock market.

The oil marketing firm was listed on the NGX on January 1, 1978, as Chevron Oil Nigeria but changed its name to MRS Oil Nigeria in 2009.

The shareholders gave their approval at the company Extraordinary General Meeting held in Lagos. The issued shares of the company comprised a total of 342.885 million ordinary shares, trading at N135.00 per share as at June 27, 2024.

The company made this known in a statement signed by its secretary, Mrs. O. Jafojo released to the investing public on the NGX.

RELATED

Kiss918 Table Games: A Chill Malaysian Guide To Winning Big

Kiss918 Table Games: A Chill Malaysian Guide To Winning Big

2 hours ago
External Reserves Decline $3.5bn In 6 Months

External Reserves Decline $3.5bn In 6 Months

2 hours ago

It stated that the voluntary delisting of all the Company’s issued shares from the daily official list of NGX is hereby approved by the shareholders.

It noted that the Memorandum and Articles of Association of the Company are amended to authorise the Company to undertake a share buyback and share capital reduction, saying that the Company can undertake a share buyback and share capital reduction in connection with any of its issued shares which may be purchased from dissenting shareholders where necessary as a consequence of the voluntary delisting on the terms the Board deems fit and which is subject to law and regulation.

It also added that upon conclusion of the voluntary delisting, the Company remains a public limited liability company, and the Board has been authorised to take all action as may be required, to admit the Company’s shares on the NASD OTC Securities Exchange in order to ensure that dealings in the Company’s shares are implemented in accordance with the Securities and Exchange Commission’s rules on trading in unlisted securities.

Recently, the Company said the board of directors arrived at the plan having undergone a strategic reassessment of the company’s status, particularly considering regulatory obligations, administrative and compliance costs, emerging opportunities, evolving market conditions and the trajectory of projected long term financial and operational growth.

“Amongst other benefits, it is expected that the Voluntary Delisting will afford the Company the opportunity to more efficiently strategise for the improved performance of its operations, provide the flexibility to nimbly engage in transactions and alliances which could bolster its earnings and add significant value to the Company whilst curtailing its costs and staying competitive within its industry,” the Company affirmed.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: MRS Oil Nigeria
SendShareTweetShare
Previous Post

Female CEOs To Promote Economic Equality

Next Post

2,659 Youth Corps Members Compete For NNPC Foundation Business Pitch

Olushola Bello

Olushola Bello

You May Like

Kiss918 Table Games: A Chill Malaysian Guide To Winning Big
Business

Kiss918 Table Games: A Chill Malaysian Guide To Winning Big

2025/07/01
External Reserves Decline $3.5bn In 6 Months
Business

External Reserves Decline $3.5bn In 6 Months

2025/07/01
Nigeria Suffers Large Drop As OPEC’s April Output Down By 440,000bpd
Business

OPEC Plans Production Increase In August To Regain Market Share

2025/07/01
State Of Emergency In Rivers: Way Forward
Business

RMAFC Lauds Tinubu For Signing Tax Reform Bills

2025/07/01
Equities Extend Losses By N345bn
Business

Stock Market Ends June Trading With N11bn Decline

2025/07/01
Nigeria-China Summit: 216 Chinese Investors Target Oil, Agric, ICT, Other Sectors
Business

Nigeria-China Summit: 216 Chinese Investors Target Oil, Agric, ICT, Other Sectors

2025/07/01
Leadership Conference advertisement

LATEST

Commuters, Staff Stranded As Poly Ibadan Students Protest Renaming Of Institution

Gov Aliyu Unveils Water Project

FUTA, JAMB At Odds Over Students’ Status After 6 Years Of Study

Nigeria Is In Our DNA, Says Lucian PM

ECS: NSITF Compensates 2 Beneficiaries With N23m

DSP Barau, Ganduje, Others Arrive Madina For Dantata’s Burial

IDP’s Corpse Exhumed, Burnt To Ashes In Taraba

Sultan, Ihejirika To Grace NDA’s Course 18 Golden Anniversary

Wamakko Sponsors Free Eye Care For 5,000

Bauchi Man Jailed 1 Year For Stealing Water

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.