The company’s share price, which had been stuck at N3.19 for at least seven months to 23rd May, jumped to N3.40 that date but has not moved again ever since.
The share purchase transferred 51 per cent of the company’s outstanding shares to 22 Hospitality Limited. “In addition, 22 Hospitality Limited also bought 456,641,337, and 21,562,293 Ordinary Shares of 50 kobo each representing 14.45% and 0.68% of the equity share capital of the Company, from Hans Gremlin Nigeria Limited and Associated Ventures International Limited respectively through Offer for Sale,” according to the statement.
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