Forte Oil is set to change the name to ARDOVA PLC after its shareholders gave their approval. This was decided at the meeting held on 17 December 2019 in the company.
Following the decision made at the meeting, the directors were summoned to take steps to effect the change of name of the company. A signed statement was sent to the Nigerian Stock Exchange.
Seven months ago (June 2019) the company intended to change its name. The change of name of the company is as a result of Prudent Energy Services Ltd acquiring the company and because the name of the company initially was very personal to the family that used to own the company.
Olumide Adeosun the Chief Executive Officer had said. Although not confirmed, there is the news that the company will be delisted from the Nigerian Stock Exchange.
The Oil company on the Nigerian Stock Exchange is, however, trading at N18.10.
