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Former Lekoil CEO sues company, claims hostile takeover
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Victoria Oil and Gas announces audited results for the year ended 31 December 2020
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Victoria Oil & Gas PLC (AIM:VOG) | RNS | Victoria Oil & Gas
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A South African based mining firm with an unimpressive track record has perfected plans to take over an oil company operating in Nigeria. Stakeholders believe that it will replicate its poor performance in Nigeria if left unchallenged.
Four weeks ago, Metallon Corporation Limited, a South African company with an unimpressive track record, started a process that could significantly alter the management and allegiance of LEKOIL Nigeria Limited, a 10-year-old Nigerian company.
On 15, November 2020, Lekoil received a notice from Strand Hanson of its resignation as nominated adviser, with effect from close of business 20, November 2020. On the same date that Strand Hanson’s resignation took effect, Lekoil received a letter from Metallon requesting an extraordinary general meeting.