WorldStage Newsonline– Eterna Plc, a Nigerian firm which manufactures and sells a range of lubricants and petroleum products as well as supplies imported fuels for the retail, industrial, agricultural has informed the Nigerian Stock Exchange and the investing public that some of its substantial shareholders had formally informed the Board that they were in negotiations to sell equity holdings in the Company to a ‘New Investor’.
Eterna PLC listed on the Main Board of NSE has Board Of Directors made up of Adebode Adefioye, Afolake Lawal, Chief (Dr) Michael Ade Ojo, Farouk, Ibrahim Boyi, Kudi Badmus, Lamis Shehu Dikko, Mahmud Tukur, Nnamdi , Wole Abegunde
The note at the NSE signed by Bunmi Agagu, Company Secretary/Legal Adviser, said as part of the process of the prospective sale, the proposed New Investor intended to undertake due diligence exercise on the Company.
“The Board has reviewed the request for due diligence and approved same at its meeting held 21st December 2020,” the note said.
“However, as a shareholder driven transaction, the Company is yet to have full details of the transaction.”