Business
Shareholders protest 7UP Nigeria delisting from NSE
As 7UP Nigeria Plc, continues with its delisting process, several shareholder groups have raised objections to it. While some of the shareholders called for a forensic audit of the company’s affairs, others tasked the regulators to ensure the minority shareholders were fairly treated.
7UP Nigeria Plc had in November 2017 sent a notice to the Nigerian Stock Exchange. Affelka SA, the majority shareholder in the company offered to buy up the 26.78% of 7Up’s share capital that it did not own. Affelka is owned by the El Khalil family which founded the company.
Affelka, then increased it tender price from N112.70 to N125 per share. The NSE then placed the company’s shares on suspension to a motion passed by minority shareholders approving the takeover bid.
7-UP Plc was incorporated as a private limited liability company on 25th June 1959 under the name Seven‐Up Limited by Mohammed El-Khalil. On 16th May 1960, the name was changed to Seven‐Up Bottling Company Limited and in 1978 it became a public company. 7-UP Plc was listed on the NSE on June 1st, 1986.
The name “Seven‐Up Bottling Company PLC” was adopted on 26th November 1991 in compliance with the provisions of the Companies and Allied Matters Act 1990.
-
Business5 days agoAbuja gears up for Jetour T2’s rugged-luxury experience
-
Business6 days agoNigeria Business Outlook: Dangote IPO, markets, inflation and naira in focus this week
-
Business6 days agoDangote IPO rush crashes Bamboo login as investors flood platform
-
Business4 days agoDangote: Petrol price gap fuels smuggling as Nigeria faces fresh pump price surge
-
Latest7 days agoHamzat meets Pastor Chris Oyakhilome, hails Christ Embassy’s community impact
-
Business4 days agoTinubu’s economic reforms face public confidence test as cost-of-living crisis persists
-
Business6 days agoAugust inflation faces upward pressure despite disinflation trend – Analysts
-
Latest1 week agoMother, tutor, accomplice arrested over alleged N15m fake kidnap of toddler