Premier Paints Plc, a paint manufacturer listed on the Nigerian Exchange Limited (NGX), has disclosed discussions that could lead to a major change in its ownership structure.
In a corporate notice filed with the NGX on Tuesday, December 16, 2025, the company said its two largest shareholders, Clover Global Resources Limited, which holds 39.02% of its shares and TGHL Capital Limited, with 15.20% stake are in talks with Xenergi Limited over the possible sale of their shares.
The disclosure, signed by the Company Secretary, Alozie Nwokoro, stated that if the transaction is completed, Xenergi Limited would acquire a combined 51% equity stake, representing 63 million shares, and become the majority shareholder of Premier Paints Plc.
The proposed change in ownership is subject to approvals from relevant regulatory bodies, including the Securities and Exchange Commission (SEC), the Nigerian Exchange Group (NGX), and the Federal Competition and Consumer Protection Commission (FCCPC).
The company said the transaction is expected to be completed before January 31, 2026, and added that it will keep shareholders and the investing public informed as discussions progress.
