LONDON TRADING UPDATES: Motif Bio Says Orange Avenue Buys Subsidiary
Fri, 26th Feb 2021 20:20
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
Motif Bio PLC - AIM-listed cash shell - Enters into a stock purchase agreement with Orange Avenue Technologies LLC, to which Orange has acquired 100% of the outstanding shares of Motif Inc from Motif with immediate effect. Orange is wholly owned by John Palmer, president of Tamarack Associates Inc - the company which was engaged by Motif to facilitate the sale of iclaprim and other assets of Motif Inc in January 2020. Motif remains suspended from trading while the proposed transaction is being negotiated and advanced. The transaction is an important step to prepare Motif to complete the reverse takeover. It also creates incentives for Orange to focus on the potential generation of value from iclaprim for Motif s shareholders, while allowing M
An Abuja Federal High Court has adjourned the alleged money laundering trial of Jide Omokore, Atlantic Energy Brass Limited and Atlantic Energy Drilling Concept Limited until February 23.
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Leke Baiyewu, Abuja
The House of Representatives Committee on Public Accounts on Thursday criticised the Group Managing Director of the Nigerian National Petroleum Corporation, Melee Kyari, and heads of the corporation’s subsidiaries for failing to appear before it.
The committee said it was the 10th time the officials would write to defer their appearance at its investigative hearing on the audit queries issued against them by the Office of the Auditor General of the Federation, including unaccounted proceed of oil sales amounting to about N3.9tn.
The subsidiaries with queries against them include the Nigerian Petroleum Development Company Limited, Petroleum Products Marketing Company Limited, Petroleum Products Pricing Regulatory Agency and the NNPC Retail Limited.
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Leke Baiyewu, Abuja
The House of Representatives Committee on Public Accounts, on Thursday, strongly criticised the failure by the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, and heads of the corporation’s subsidiaries to appear before it.
The committee decried that it was the tenth time the officials would write to defer their appearance at its investigative hearing on the audit queries issued against them by the Office of the Auditor General of the Federation, including unaccounted proceed of oil sales amounting to about N3.9tn.
Those with queries against them are the Nigerian Petroleum Development Company Limited, Petroleum Products Marketing Company Limited, Petroleum Products Pricing Regulatory Agency, NNPC Retail Limited, National Petroleum Investment & Management Services, National Petroleum Exchange, Nigerian Gas Company, NNPC Pension Limited, Kaduna Refining and Petrochemical Company, Warri Refining and