Wednesday, April 20,  2022  / 05:33 PM / by NGX / Header Image Credit: Eterna Plc 

We refer to Eterna Plc's public statement dated 1st November 2021 in which the Company had notified the general public that Preline Limited has completed the acquisition of 794,969,774 (Seven Hundred and Ninety-Four Million, Nine Hundred and Sixty-Nine Thousand Seven Hundred and Seventy-Four) ordinary shares of the Company representing 60.98% in the Company, making it the largest and majority shareholder in the Company, thus triggering the mandatory tender offer (MTO) provisions of the Investment and Securities Act and Securities and Exchange Commission (SEC) Regulations. 

We wish to announce to Nigerian Exchange Limited and the general public; that following the granting of the "Authority to proceed" by SEC, Preline Limited has notified the Company of its intention to proceed with the Takeover bid to acquire 1,300,000 ordinary shares equivalent to 0.10% equity stake in Eterna Plc from other shareholders at a price of N13.50 per share.

This notification is in fulfillment of our disclosure obligations in line with Regulatory guidelines and our corporate responsibility to our stakeholders.