• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, August 24, 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

MRS Oil Opts Out Of NGX Listing For NASD

by Olushola Bello
5 months ago
in Business
MRS Oil
Share on WhatsAppShare on FacebookShare on XTelegram

MRS Oil Nigeria Plc has concluded arrangements for the voluntary delisting of all its issued shares from the Nigerian Exchange Limited (NGX) and subsequent admission to the NASD OTC Securities Exchange (NASD).

Advertisement

MRS company secretary, Oluwakemi Jafojo , in a notification to the NGX, said this decision follows the approvals granted by the company’s shareholders at the Extraordinary General Meeting (EGM) held on June 25, 2024, in accordance with applicable regulations.

“In accordance with Rule of NGX’s rules for delisting of equity securities from the Daily Official List of the Exchange and other relevant legal and regulatory requirements, the company will, in furtherance of the Voluntary Delisting, purchase the interests of shareholders who were absent from the EGM or dissented to the Voluntary Delisting (the Payout). The effectiveness of this Payout remains subject to the final approvals of the Securities and Exchange Commission (SEC) and NGX,” the company said.

It added that, “key terms of the payout as approved by SEC are as follows: the Company shall comply with NGX regulations by setting aside the necessary funds to settle dissenting and absentee shareholders; the Registrars shall maintain the Account for a period of three months, during which eligible shareholders who wish to exit the Company may claim their entitlements; after the three months period, shareholders who have not opted for the payout shall be migrated to the NASD platform and any unclaimed funds shall revert to the Company; the Registrars shall submit a detailed report to the SEC, listing the shareholders who have exited and have received payment.”

MRS Oil Nigeria Plc, as at March 28, 2025, has total outstanding shares of 342.885 million with a stock price N174.90, amounting to a market capitalisation of N59.971 billion.

RELATED

PICTORIAL: Air Peace Gets 4th Boeing 777, Unveils New Intercontinental Routes

PICTORIAL: Air Peace Gets 4th Boeing 777, Unveils New Intercontinental Routes

10 hours ago
Three Crown Celebrates 2025 Mum Of The Year Campaign

Three Crown Celebrates 2025 Mum Of The Year Campaign

19 hours ago
ADVERTISEMENT

 

MRS Oil assured stakeholders that the delisting process will comply with all requisite regulatory approvals from the Securities and Exchange Commission (SEC) and the NGX.

 

ADVERTISEMENT

The company emphasised that this strategic move will enable it to focus on long-term growth strategies without the constraints of public listing requirements.

 

MRS Oil Nigeria released its audited full-year financial results for 2024, reporting a 71.2 per cent surge in revenue to N312.2 billion. The revenue growth was driven by higher petroleum product prices throughout most of 2024, despite a reported decline in sales volumes.

 

The company also reported a pre-tax profit of N9.8 billion, representing a 66 per cent year-on-year increase, even as rising costs of sales continued to pressure gross margins.

 

 

 

 


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: MRS Oil Nigeria
SendShare10176Tweet6360Share
ADVERTISEMENT
Previous Post

Palmpay Partners Verve To Provide 35m Customers Debit Cards Access

Next Post

Commodities Prices Remain Unaffordable As Muslims Mark Sallah

Olushola Bello

Olushola Bello

You May Like

PICTORIAL: Air Peace Gets 4th Boeing 777, Unveils New Intercontinental Routes
Business

PICTORIAL: Air Peace Gets 4th Boeing 777, Unveils New Intercontinental Routes

2025/08/23
Three Crown Celebrates 2025 Mum Of The Year Campaign
Business

Three Crown Celebrates 2025 Mum Of The Year Campaign

2025/08/23
NGX Group Appoints Popoola As GMD/CEO
Business

Domestic Investors Dominate NGX Trades With N1.67trn In July

2025/08/23
FG Completes Repairs On Tin Can Port Access Road
Business

Customs Generates N16.4bn In Single Day At Tin Can Port

2025/08/23
Firm To Sustain Leadership, Youth Empowerment, Unlocks 6,000bpd  In Nigeria
Business

Firm To Sustain Leadership, Youth Empowerment, Unlocks 6,000bpd In Nigeria

2025/08/23
IMO Ready To Collaborate With NIMASA On Marítime Challenges – Scribe
Business

NIMASA Pledges Increased Monitoring, Enforcement On Vessels Over Marine Pollution

2025/08/23
Leadership Conference advertisement

LATEST

Remi Tinubu Empowers Lagos Families, Pledges Nationwide Elderly Support

Arsenal Thrash Leeds United 5-0 To Maintain Winning Streak

Katsina Gov’t Procures 8 New Armoured Vehicles To Combat Insecurity

Tinubu Mourns Ex-Plateau Military Gov Mana

Yoruba Nation Agitator Sunday Igboho Apologises To Ooni, Seeks Help To Get Name Off Security Watchlist

Police Arrest Armed Robbery, Car-snatching Syndicate In Abuja

Annual Confab: NBA President Leads Lawyers On 10km Health Walk In Enugu

Federal Gov’t Warns Kebbi, Niger, Kwara Residents To Leave Flood-prone Areas

‘You’re Collecting Salaries But Can’t Defend Gov’t,’ Oyebanji Slams ‘Disloyal Appointees’

Reps Query NERC, Others Over Disbursement Of N59bn National Metering Fund

© 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.