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Business News of Wednesday, 26 February 2020

Source: www.mynigeria.com

Ardova Plc to release financial statements Feb. 28th

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Ardova Plc has approved the release of its financial statements.

This was contained in a notice filed by the firm to the Nigerian Stock Exchange.

Board of Directors of the firm on Monday, February 24, 2020, approved the audited financial statements for the year ended December 31st, 2019.

The results are to be released to the public before Friday, February 28th, 2020.

Last November, Forte Oil changed its name to Ardova Plc following the shareholder's resolution at its Extraordinary General Meeting, which held Tuesday, December 17, 2019.

The change of name is coming after Forte Oil announced that its controlling shareholder, Otedola, was selling off his interest in the company.

Otedola sold 75% of his stake in Forte Oil, a publicly listed oil marketing company, to Prudent Energy, a local oil trading firm.