The majority shareholder in Ardova Plc, Ignite Investments & Commodities Limited, has increased the buyout price offered to minority investors in the oil company.
In a corporate document obtained on Monday from the Nigerian Exchange Limited (NGX), dated June 2, 2023, Ardova disclosed that the minority shareholders will be paid N17.88 kobo per share.
This is N0.5 kobo higher than the N17.38 kobo previously offered in a corporate document announcing Ignite Investments’ takeover bid in February 2023.
