MRS Oil Nigeria Plc has announced the finalisation of plans to voluntarily delist all its issued shares from the Nigerian Exchange Limited (NGX).
The company disclosed this in a statement filed on the NGX website, just hours after reporting a surge in profit for the 2024 financial year.
The decision follows shareholder approval at an Extraordinary General Meeting (EGM) held on June 25, 2024. As part of the delisting process, the company has offered to purchase shares from shareholders who either did not attend the EGM or voted against the voluntary delisting.
MRS Oil has advised dissenting shareholders who do not wish to retain their shares post- delist to contact the company’s registrar between April 4, 2025, and July 4, 2025, to receive their payout.
In compliance with regulatory requirements, the registrar will maintain shareholder accounts for three months, after which any remaining shares will be transferred to the NASD platform.
Listed on the Nigerian Exchange in 1970, MRS Oil has been a huge player in Nigeria’s oil and gas industry. The company stated that this delisting aligns with its long-term growth strategy and reaffirmed its focus on regulatory compliance, including obtaining all necessary approvals from the Securities and Exchange Commission (SEC).
