The Company Legal form: The Company was incorporated as a private limited liability company in 1956 and was converted to a public company in 1978. The merger of the Company with Elf Oil Nigeria Limited which commenced globally in November 1999 was completed in Nigeria in 2002. With this development, the authorised, issued and fully paid share capital was ₦148,541,000 made up of 297,082,000 ordinary shares of 50k each. In 2003, to mark the completion of its corporate mergers, Total Group worldwide reverted to its former name Total and adopted a new logo with a unifying design to express its corporate ambition. Accordingly, the Company changed its name from TotalFinaElf Nigeria Plc to Total Nigeria Plc in the same year. With the capitalisation of the bonus issue of 42,440,228 ordinary shares of 50k each in March 2004, the authorised share capital became ₦169,760,918 made up of 339,521,837 ordinary shares of 50k each. 61.72% of the Company's ordinary shares were ...
A quick snap shut of the performance of the players in the oil sector of the Nigerian Equity market notable absentees are Seplat and Conoil who as at the time of compilation of these report have not released their 2014 financial reports. Without down playing the report the information provided above should still guide astute investors at arriving at valuable investment decision for 2015. Further updates would be completed on the report as information unfold in the course of the year.
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