Premier Paints Plc MTO by Xenergi Plc Postponed by SEC
Premier Paints Plc has notified the Nigerian Exchange Limited and the public that the Mandatory Tender Offer (MTO) by Xenergi Plc, scheduled to commence on 22nd June 2026, has been postponed. The delay is attributed to the need to register Bid Documents with the Securities and Exchange Commission (SEC) before the transaction can proceed.
Premier Paints Plc (PREMPAINTS) filed a corporate action notice on 22nd June 2026, informing shareholders, stakeholders, the Nigerian Exchange Limited, and the general public that the Mandatory Tender Offer (MTO) initiated by Xenergi Plc has not commenced as originally scheduled.
The MTO had been planned to begin on Monday, 22nd June 2026, but the company disclosed that the transaction has been postponed due to the requirement to formally register the Bid Documents with the Securities and Exchange Commission (SEC). The company indicated that it is in the process of obtaining the necessary no-objection from the SEC.
Premier Paints Plc stated that a new commencement date for the MTO will be announced once the SEC's no-objection has been secured. The company also committed to continuing to update the public on the progress of the transaction as it develops.
The filing was signed by Alozie Nwokoro of AMN Practice, acting as Company Secretary on behalf of Premier Paints Plc.
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