The Federal High Court, Ikoyi has nullified the Ex Parte Order earlier issued on 3rd July 2017 approving the appointment of an Interim Board for Emerging Markets Telecommunications Service (EMTS), now 9mobile.
The company is the fourth largest telecommunications service operator in Nigeria.
Document obtained shows that the order on Friday by Justice Ibrahim Buba followed the Preliminary Objection filed by United Capital Trustees Ltd in response to the application by Spectrum Wireless, a shareholder of EMTS, for a nullification of the Ex Parte Order.
The development has set off another round of confusion and may affect the January 16 new deadline set by the NCC lat week.
The Interim Board of EMTS backed by the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC), recently received bids from about 5 bidders in its intended sale of the company.
Barclays Africa, the financial adviser handling the sale of 9mobile, had the initial mandate of December 31, 2017 to conclude the sale.
Barclays Africa had since last year, shortlisted the final five firms – Teleology Holdings Limited, promoted by Adrian Wood, the pioneer CEO of MTN Nigeria; Smile Telecoms Holdings, with operations in Nigeria, Tanzania, Uganda, Congo DR and South Africa; Helios Investment Partners; Bharti Airtel and Globacom.
Meanwhile, Solicitor to Spectrum Wireless Communication Limited in a public notice warned that by virtue of the said judgment, Dr. Joseph Nnanna, Oluseyi Bickersteth, Ken Igbokwe, Funke Ighodaro and Boye Olusanya as security trustee nominee of the board of Emerging Markets Telecommunications Service has been nullified and the order appointing them vacated.
The Solicitors warned that any institution or company who transacts business for the purpose of sale or acquisition of EMTS or 9Mobile does so at his or her own risk.
Justice Buba in his judgment said that the motion is struck out having set aside the order adding that “the respondent shall reverse all steps taken by it since the order was nullity.”
The company is the fourth largest telecommunications service operator in Nigeria.
Document obtained shows that the order on Friday by Justice Ibrahim Buba followed the Preliminary Objection filed by United Capital Trustees Ltd in response to the application by Spectrum Wireless, a shareholder of EMTS, for a nullification of the Ex Parte Order.
The development has set off another round of confusion and may affect the January 16 new deadline set by the NCC lat week.
The Interim Board of EMTS backed by the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC), recently received bids from about 5 bidders in its intended sale of the company.
Barclays Africa, the financial adviser handling the sale of 9mobile, had the initial mandate of December 31, 2017 to conclude the sale.
Barclays Africa had since last year, shortlisted the final five firms – Teleology Holdings Limited, promoted by Adrian Wood, the pioneer CEO of MTN Nigeria; Smile Telecoms Holdings, with operations in Nigeria, Tanzania, Uganda, Congo DR and South Africa; Helios Investment Partners; Bharti Airtel and Globacom.
Meanwhile, Solicitor to Spectrum Wireless Communication Limited in a public notice warned that by virtue of the said judgment, Dr. Joseph Nnanna, Oluseyi Bickersteth, Ken Igbokwe, Funke Ighodaro and Boye Olusanya as security trustee nominee of the board of Emerging Markets Telecommunications Service has been nullified and the order appointing them vacated.
The Solicitors warned that any institution or company who transacts business for the purpose of sale or acquisition of EMTS or 9Mobile does so at his or her own risk.
Justice Buba in his judgment said that the motion is struck out having set aside the order adding that “the respondent shall reverse all steps taken by it since the order was nullity.”
0 $type={blogger}
Post a Comment
Thank you for reaching out to us. We are happy to receive your opinion and request. If you need advert or sponsored post, We’re excited you’re considering advertising or sponsoring a post on our blog. Your support is what keeps us going. With the current trend, it’s very obvious content marketing is the way to go. Banner advertising and trying to get customers through Google Adwords may get you customers but it has been proven beyond doubt that Content Marketing has more lasting benefits.
We offer majorly two types of advertising:
1. Sponsored Posts: If you are really interested in publishing a sponsored post or a press release, video content, advertorial or any other kind of sponsored post, then you are at the right place.
WHAT KIND OF SPONSORED POSTS DO WE ACCEPT?
Generally, a sponsored post can be any of the following:
Press release
Advertorial
Video content
Article
Interview
This kind of post is usually written to promote you or your business. However, we do prefer posts that naturally flow with the site’s general content. This means we can also promote artists, songs, cosmetic products and things that you love of all products or services.
DURATION & BONUSES
Every sponsored article will remain live on the site as long as this website exists. The duration is indefinite! Again, we will share your post on our social media channels and our email subscribers too will get to read your article. You’re exposing your article to our: Twitter followers, Facebook fans and other social networks.
We will also try as much as possible to optimize your post for search engines as well.
Submission of Materials : Sponsored post should be well written in English language and all materials must be delivered via electronic medium. All sponsored posts must be delivered via electronic version, either on disk or e-mail on Microsoft Word unless otherwise noted.
PRICING
The price largely depends on if you’re writing the content or we’re to do that. But if your are writing the content, it is $60 per article.
2. Banner Advertising: We also offer banner advertising in various sizes and of course, our prices are flexible. you may choose to for the weekly rate or simply buy your desired number of impressions.
Technical Details And Pricing
Banner Size 300 X 250 pixels : Appears on the home page and below all pages on the site.
Banner Size 728 X 90 pixels: Appears on the top right Corner of the homepage and all pages on the site.
Large rectangle Banner Size (336x280) : Appears on the home page and below all pages on the site.
Small square (200x200) : Appears on the right side of the home page and all pages on the site.
Half page (300x600) : Appears on the right side of the home page and all pages on the site.
Portrait (300x1050) : Appears on the right side of the home page and all pages on the site.
Billboard (970x250) : Appears on the home page.
Submission of Materials : Banner ads can be in jpeg, jpg and gif format. All materials must be deliverd via electronic medium. All ads must be delivered via electronic version, either on disk or e-mail in the ordered pixel dimensions unless otherwise noted.
For advertising offers, send an email with your name,company, website, country and advert or sponsored post you want to appear on our website to omodjk(at)gmail(dot)com
Normally, we should respond within 48 hours.