Forte Oil announces change of name to Ardova Plc

February 12, 2020
67 Views

Forte Oil on Tuesday announced that it has changed its name to Ardova Plc.

This was made public through a disclosure on the Nigerian Stock Exchange signed by the company’ secretary, Oladehinde Nelson-cole.

“This is to notify the general public and all stakeholders that Forte Oil Plc (“the Company”) pursuant to a special resolution passed at the Extraordinary General Meeting held on December 17, 2019, and the approval of the Corporate Affairs Commission has changed its name to ARDOVA PLC.

“Pursuant to Section 31 (5) of the Companies and Allied Matters Act, the Company has been issued a new Certificate of Incorporation by the Registrar” it read.

The company has over years changed its name.

It was formerly called African Petroleum before it embarked on a rebranding and restructuring programme which led to a name change to Forte Oil PLC in December 2010.

In 2018, billionaire oil magnate and chairman of Forte Oil Plc, Femi Otedola announced the sale of his 75 per cent direct and indirect shareholdings in the oil company.

The decision to sell the shares came decision amidst plans to invest in petrochemicals and refining.

Last year, he announced the completion of his divestment plans from Forte Oil on his verified Instagram page.

Forte Oil operates mostly in the downstream sector of the oil and gas industry.

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