Forte Oil Plc shareholders have approved the change of their company name to Ardova Plc.
In a notice sent to the Nigerian Stock Exchange the company said shareholders’ approved of the name change at its extraordinary general meeting recently.
“The shareholders hereby approve that the name of the company be changed from Forte Oil Plc to Ardova Plc.
“The directors of the company is hereby authorized to approve, sign and/or execute all documents, appoint such professional parties and advisers, as may be necessary to give effect to the above resolutions, including without limitation, complying with the directives of any regulatory authority and all acts carried out, steps taken and documents executed (or to be executed) by the directors of the company in connection with the above resolutions be and are hereby approved.”
In December, Femi Otedola, Nigerian entrepreneur and billionaire, announced that he would sell his 75 per cent stake in the company because he wanted to maximize the opportunities in refining.
After the sale was completed, Olumide Adeosun, the new chief executive officer, said the company would undergo a name change to reflect the new structure.