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11 Plc PAT Drops 3% as Revenue Rises 39 7% in H1 2021

Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy. One of the major oil companies in the country, 11 Plc, formerly known as Mobil Oil Nigeria Plc, has released its first financial statements under its new trading platform. The energy firm used to trade its stocks on the Nigerian Exchange (NGX) Limited, formerly the Nigerian Stock Exchange (NSE), but it voluntarily delisted from the platform in May 2021 to join the NASD over-the-counter Securities Exchange a month later. In the results analysed by Business Post, 11 Plc, in the first six months of the year, saw its Profit After Tax (PAT) drop by 3.0 per cent as it published N2.4 billion compared to N2.5 billion recorded in the same period last year.

Shareholders of Capital Hotels to Meet Over N11 3bn from New Investor

Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy. Shareholders of Capital Hotels to Meet Over N11.3bn from New Investor – Shareholders Capital Hotels will have to gather at a special event fixed for next month in Abuja to decide whether to sell some stocks of the company to an interested investor. Reports say that the board wants to allot 1,611,995,510 ordinary shares of 50 kobo to 22 Hospitality Limited through a private placement at a unit price of N7.00. This will amount to N11.3 billion and it will go a long way to boost the capital injection drive of the organisation to boost its operations.

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