OANDO PLC has announced the execution of a definitive agreement with a vehicle owned by funds advised by Helios Investment Partners LLP to acquire 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power Limited. The agreed transaction consideration of US$115.8 million is conditional upon the receipt of regulatory approvals and subject to customary purchase price adjustments.
Upon completion, Oando will retain 49% of the voting rights in the subsidiary while the residual 2% will be held by a local entity.
CONOIL PLC – Financial Results
6 Months Ended 30th June, 2016
Revenue: 8% decrease from N43bn to N39.5bn
Profit after Tax: 190% increase from N359.4m to N1bn (H1 2016 EPS, 150 kobo; H1 2015 EPS, 52 kobo)
3 Months Ended 30th June, 2016
Revenue: 15% decrease from N22.4bn to N19bn
Loss after Tax: 14% increase from N827.8m to N943.8m (Q1 2016 EPS, -136 kobo; Q1 2015 EPS, -119 kobo)
The stock price of PZ CUSSONS NIGERIA PLC was adjusted today for a dividend of 50 kobo as declared by the Board of Directors of the Company. Its last closing price was N19.50; hence, its ex-div price was N19.00.