Tag: Forte Oil
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Forte Oil Officially Becomes Ardova Plc After CAC Approval
Indigenous energy company, Forte Oil Plc, has officially changed its name to Ardova Plc after obtaining an approval from the Corporate Affairs Commission (CAC). A statement issued by the company on Tuesday disclosed that the name change was effected following the authorisation of CAC, an agency of federal government saddled with the responsibility of registering…
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Shareholders Approve Change of Forte Oil to Ardova Plc
Shareholders of Forte Oil Plc have authorised the board of directors of the local oil company to change the brand name to a new one, Ardova Plc. The approval was given at the firm’s Extraordinary General Meeting (EGM) held on Tuesday, December 17, 2019 in the Lekki area of Lagos State. The name change is…
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Forte Oil overhauls board, gets new chairman, directors
Leading indigenous energy firm, Forte Oil plc, has announced a mass resignation of members of its board of directors. A disclosure to the Nigerian Stock Exchange (NSE) said eight members of the board, including its Chairman, Mr Femi Otedola, and its Group CEO, Mr Akin Akinfemiwa, have resigned from the company. This followed the recent…
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Otedola moves to acquire Forte Oil upstream, power firm
Majority shareholder of Forte Oil Plc, Mr Femi Otedola , is planning to buy out the company’s upstream services and power distribution firm to be ratified by the shareholders on Feb. 7. Mr Akinleye Olagbende, the firm’s Company Secretary, disclosed this in a letter to the Nigerian Stock Exchange (NSE) on Wednesday. Olagbende said the…
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BREAKING: Otedola dumps Forte Oil, okays sales of 75% shares [Document Attached]
Nigerian billionaire businessman, Femi Otedola is set to sell his 75 per cent direct and indirect shareholdings in Forte Oil. This was revealed by the Nigerian Stock Exchange in a statement on its website on Monday. The statement was signed and made available to reporters by Akinleye Olagbende, the General Counsel of the company. The…
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Forte Oil emerges worst performing stock in Q1, declines by 43.39%
Forte Oil Plc has recorded the highest price loss in percentage terms to emerge the worst performing stock on the Nigerian Stock Exchange for the first quarter ended March 31, the News Agency of Nigeria (NAN) reports. Data obtained from the exchange on Tuesday indicated that the stock dropped by 43.39 per cent to close…
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Mobil, Forte Oil, others lead activities on NSE
Major petroleum stocks on Wednesday, topped activities on the Nigerian Stock Exchange (NSE) with Mobil Oil leading the gainers’ chart. TheNewsGuru.com reports that Mobil garnered N3 to close at N279 per share. Forte Oil followed with a gain of N1.20 to close at N65.20 and Nestle Nigeria gained N1 to close at N750 per share.…
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NSE: Forte Oil emerges worst performing stock in 2016, drops by 74.42%
Forte Oil Plc. has emerged the worst performing stock in 2016 in percentage terms having dropped by 74.42 per cent. Statistics obtained from the Nigerian Stock Exchange (NSE) for the period showed the stock which in 2016 was worth N330 depreciated by 74.42 per cent to close trading at N84.43 per share. Skye Bank followed…