Preline Limited to acquire 60.98% of Eterna Plc as substantial shareholders divest

Eterna Plc has announced the divestment of substantial shareholders from the company which will enable Preline Limited to acquire 794,969,774 shares of the company. This represents 60.98% equity of the company.

In a notification available on the website of the Nigerian Exchange, Eterna Plc stated thus:

“We refer to our public statement dated 21st December, 2020 in which we notified our Shareholders, the Nigerian Exchange Limited (NGX) and the general public that some of our substantial shareholders have formally informed the Board that they are in negotiations to sell equity holdings in the Company to a New Investor”.

“Our substantial shareholders; Lenux Integrated Resources Limited, Global Energy & Raw Materials Limited, Meristem Wealth Management Limited, Radix Capital Partners Limited, GASL Nominee Limited, GTI Capital Limited and Cardinalstone Partners Limited have executed a Sale and Purchase Agreement (SPA) that enables Preline Limited acquire 794,969,774 (Seven Hundred and Ninety Four Million Nine Hundred and Sixty Nine Thousand Seven Hundred and Seventy Four) shares of Eterna Plc representing 60.98% in the Company”.

“A formal application with further details will be filed with the Securities and Exchange Commission (SEC) for an “authority to proceed” with the transaction by the transacting parties”.

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