Lekoil Ltd - London-based oil and gas exploration and production company with projects focused in Nigeria and West Africa - Confirms that Grand Court of the Cayman Islands has discharged the injunction bought by shareholder Lekoil Nigeria's CEO Olalekan Akinyanmi on the issue of shares.
Lekoil will apply to the court for the recovery of costs.
In addition, lenders under the facility agreements will convert all outstanding amount into shares, leading to the issue of 42.0 million shares under the first agreement, and 157.1 million shares under the second.
Current stock price: suspended
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.