Tower Alloys Industries Limited acquires 67.55% equity stake in Aluminium Extrusion Industries Plc

Aluminium Extrusion Industries Plc has notified the Nigerian Exchange and the investing public that the Company received a notification from the majority shareholder, Tower Aluminium Nigeria Plc that Tower Alloys Industries Limited has acquired the shares previously held by Tower Aluminium Nigeria Plc in the Company and thus has become the beneficial owner of 148,586,381 shares of the Company.

Based on the foregoing, Tower Alloys Industries Limited now holds 148,586,921 shares amounting to 67.55% of the Company’s issued share capital and is now the majority shareholder in the Company.

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