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Vivo Energy PLC - London-based fuels and lubricants seller under Shell and Engen brands in 23 African countries - Says the takeover of the group by its largest shareholder Vitol Group has become effective after a court delivered the order to the Registrar of Companies for England & Wales.
Vivo shares will be cancelled on London Stock Exchange on Tuesday and are expected to be cancelled on Johannesburg Stock Exchange on Friday.
On July 8, Vivo declared a special dividend of $0.02 following the acquisition. Vitol had offered $1.85 per share for Vivo, in a deal valued at $2.3 billion. It already held a 36% stake in Vivo.
However, on Monday, Vivo said ‘under the terms of the scheme, holders of Vivo shares are entitled to receive $1.79 for each Vivo Share held at the scheme record time,’ noting that the record time was last Friday.
Current stock price in London: 150.00 pence
12-month change: up 42%
Current stock price in Johannesburg: R 31.00
12-month change: up 45%
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