BOC Gases Nigeria Plc has announced a rebrand and change of its name to Industrial and Medical Gases Nigeria Plc. This follows the acquisition of a majority stake in the company by TY Holdings Limited, a company linked to former minister of defence and retired military general, Mr Theophilus Yakubu Danjuma.
Recall that TY Holdings Limited had recently acquired additional 249,746,823 ordinary shares of BOC Gases Nigeria Plc, translating to about 60% of the latter’s total shareholding. The deal is in addition to an already existing 12% stake already held by the former, thereby raising its total stake in BOC Gases Nigeria Plc to 72%. Prior to the deal, the majority stakes of BOC Gases Nigeria Plc were held by BOC Holdings UK (a member of the Linde Group).
Sequel to the conclusion of the deal, a change in the ownership structure of BOC Gases Nigeria Plc was approved to reflect the new reality. This resulted in the change of the Company’s logo and trademark. Consequently, the company obtained a new certificate of incorporation from the Corporate Affairs Commission.
The recent development was confirmed through a statement signed by the Managing Director of the Company, Ayodeji Oseni, and filed with the Nigerian Exchange Limited (NGX). The statement read: ‘’This is to notify Nigerian Exchange Limited, our shareholders and the investing public that BOC Gases Nigeria Plc (the Company) has changed its name to INDUSTRIAL AND MEDICAL GASES NIGERIA PLC.
‘’The change of name is sequel to the purchase of 60% of BOC Gases Nigeria Plc, which was formerly controlled by BOC Holdings UK (a member of the Linde Group) by TY Holdings Limited. This has also resulted in the change of the Company’s logo and trademark.
‘’The Company has obtained a new certificate of incorporation from the Corporate Affairs Commission.’’