By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-World soap and detergent makers Unilever Overseas Holdings B.V. on Monday said it will not delist its Nigerian unit, Unilever Nigeria Plc from the Nigerian Stock Exchange (NSE) as it extends its Tender Offer to individual shareholders to June 25 from June 10, 2015.
“Unilever has confirmed that it has no plans to delist Unilever Nigeria from the Nigerian Stock Exchange. Any shareholder interested in tendering their shares should contact their stockbroker or GTL Registrars Limited at 2 Burma Road, Apapa, Lagos,” the soap maker said in an issuer’s announcement with the NSE.
This is coming on the heels of approval the company obtained from the Securities and Exchange Commission (SEC) for the extension.
The Unilever Overseas said that the extension is to provide Unilever Nigeria’s shareholder base (and in particular the retail shareholders) a fair opportunity to participate in the Tender Offer, following the dislocation of the postal and transportation services due to the fuel crisis.
As earlier reported, under the terms of the Offer, Unilever Overseas is seeking to acquire up to 942,215,930 shares in the company at ?45.50 per share in cash, which will increase its equity stake in the local unit from 50.10 percent up to a maximum of 75 percent.
At the close of business Monday on the Nigerian bourse share price of the company dipped by 0.73 percent to N45.17 from N45.50 it closed on Friday losing 0.21 kobo per share.
