Announces the
completion of the acquisition of 100% equity stake comprising
1,000,000 Ordinary
Shares of N1.00 each in
TELLURIA LIMITED
For consideration
of 1,880,000,000 Ordinary Shares in Ellah Lakes Plc
The primary
objective of the acquisition is to diversify the product offerings and enhance
the strategic positioning of Ellah Lakes Plc by leveraging benefits arising
from a strengthened balance sheet,
economies of scale,
new market, improved operational and organizational efficiencies in order to
drive profitability, improve competitiveness and increase shareholders’ value.
FINANCIAL ADVISER TO THE ACQUIRER
MBC CAPITAL LIMITED
11th Floor, St.
Nicholas House, Catholic Mission Street, Lagos Island
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