WorldStage Newsonline– Eterna Plc has issued a notification on proposed mandatory takeover of 1,300,000 ordinary shares equivalent to 0.10% equity stake in Eterna Plc by Preline Limited.
According to a public statement dated 1st November 2021, Preline Limited had earlier completed the acquisition of 794,969,774 ordinary shares of the Company representing 60.98% in the company, making it the largest and majority shareholder, thus triggering the mandatory tender offer (MTO) provisions of the Investment and Securities Act and Securities and Exchange Commission (SEC) Regulations.
The latest request by Preline Limited is to acquire 1,300,000 ordinary shares equivalent to 0.10% equity stake in Eterna Plc from other shareholders at a price of N13.50 per share.
The exercise will raise Preline Limited equity holding in Eterna Plc to 61.08%.
