Nexamont Acquires 21.4% Equity Stake in Royal Exchange

Nexamont has announced that it has acquired a 21.4 per cent stake in Royal Exchange Plc.

In a corporate disclosure from the Company Secretary, OOT Nominees, which was filed on the Nigerian Exchange Limited, it said the stake was acquired via the secondary market.

The Company Secretary said, “Royal Exchange Plc received a letter from Nova Finance Securities Limited, the Financial Advisers to Nexamont Company Limited, notifying it that Nexamont has acquired 1,770,499,535 units of ordinary shares of Royal Exchange Plc through the secondary market.

It added, “This represents at least a 21.4 per cent equity stake in the company. Pursuant to Rule 17.13 (a), Part II of the Rulebook of Nigerian Exchange Limited, the company wishes to inform the Exchange, its shareholders and the investing public that Nexamont Company Limited is now a beneficial owner of 1,770,499,535 ordinary shares in Royal Exchange Plc.”