The Royal Exchange PLC said it received a letter from Nova Finance Securities Limited, Nexamont Company Limited (Nexamont) Financial Advisors, in which the company informed that Nexamont has acquired 1,770,499,535 units of ordinary shares of Royal Exchange PLC through the secondary market.
The stock purchased by Nexamont represents at least 21.4 percent equity stake in the Royal Exchange PLC. The company owes 8,266,698,940 shares.
Royal Exchange's share price increased to 2 percent or 4 cobo on Friday, 19 September, after being stable for two days.
The new management of the Royal Exchange PLC recently reiterated its determination to convert the organization into a world -class business, which has benefited on the trust created in the market for decades.
This assurance is an experienced Idu C of Financial Services Industry as Group Managing Director (GMD) of Holding Company. The recent appointment of Okehiayalam came on the heels.
The current ownership structure of the Royal Exchange PLC is the Royal Exchange Finance Company, fully owned by a subsidiary, with Rex Insurance, Royal Exchange MFB and DOT HMO affiliated companies.
According to Rule 17.13 (A), Part II of Nigerian Exchange Limited (NGX) Royal Exchange PLC informed the exchanges, its shareholders and investment public that Nexamont Company Limited is now a beneficial owner of 1,770,499,535 ordinary stocks in Royal Exchange PLC.
