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CAC Approves Change Of Name, Forte Oil Officially Becomes Ardova PLC

The energy company, Forte Oil Plc, has officially changed its name to ARDOVA Plc after obtaining approval from the Corporate Affairs Commission (CAC).

A statement issued by the company on Tuesday disclosed that the name change was effected following the authorization of CAC, an agency of federal government saddled with the responsibility of registering organizations in the country.

“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 General of the Corporate Affairs Commission evidencing the change of name.”

Forte Oil which was formerly owned by billionaire businessman, Mr. Femi Otedola, is now owned by Mr. Abdulwasiu Sowami who bought the company from him in a deal worth #65 billion.

The Company has been issued with a new certificate of incorporation to reflect its new identity.  In November 2019, the board of Forte Oil announced its intention request for shareholders’ approval to change the name of the oil firm after Ignite Investments and Commodities Limited, promoted by the Chief Executive of Prudent Energy Services Limited.

At an EGM held in the Lekki area of Lagos State, the shareholders granted the request of the board.

“The shareholders hereby approve that the name of the company be changed from Forte Oil Plc to Ardova Plc

“That the directors of the company be and are hereby authorized to approve, sign and/or execute all documents, appoint such professional parties and advisers as may be necessary to give effect to the above resolutions, including without limitation, complying with the directives of any regulatory authority and all acts carried out, steps are taken and documents executed (or to be executed) by the directors of the company in connection with the above resolutions be and are hereby approved,” the notice signed by Nelson-Cole after the December 2019 meeting had said.



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