Tuesday 14 May 2019

ELLAH LAKES PLC ACQUIRES TELLURIA LIMITED

ELLA LAKES PLC
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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