Premier Paints Plc has introduced that its majority shareholders are in discussions with Xenergi Restricted relating to a possible divestment of their stakes within the firm.
Based on a disclosure filed with the Nigerian Trade (NGX), the shareholders concerned are Clover International Assets Restricted, which holds a 39.02% stake, and TGHL Capital Restricted, with a 15.20% holding.
If accomplished, the deal would see Xenergi Restricted purchase a 51% fairness stake, representing 63 million shares in Premier Paints Plc.
The proposed transaction, formally communicated to the NGX, shareholders and the investing public, is topic to regulatory approvals and is predicted to be accomplished earlier than 31 January 2026.
Premier Paints and Xenergi
Premier Paints Plc manufactures paints for Nigeria’s ornamental, industrial, and industrial sectors.
Its merchandise embody ornamental, industrial, marine, wooden, automotive, solvent, and road-marking paints.
The corporate, a subsidiary of Nigeria-based Trans International Holding Restricted and previously linked to Crimson Sea Housing Providers, is listed on the NGX beneath Industrial Items, Constructing Supplies subsector.
On the alternate, Premier Paints has a market capitalization of about N1.23 billion, with 123 million shares excellent, every priced at N10.
Based on current developments, Clover International Assets Restricted and TGHL Capital Restricted plan to divest 63 million shares to Xenergi Restricted beneath a proposed transaction.
Xenergi Restricted, a member of the Oildata Vitality Group, converts pure gasoline into cleaner power merchandise, together with LPG, propane, and blended alcohols.
If accomplished, Xenergi will purchase a 51% stake in Premier Paints. This provides it majority possession, voting rights, and affect over board appointments, operations, technique, and growth plans.
Premier Paints’ shares have remained at N10 per share since 2022, with no buying and selling exercise on the NGX following their suspension.
What you need to know
Premier Paints Plc stays beneath a buying and selling suspension on the Nigerian Trade (NGX) as of December 2025.
The suspension was first imposed on July 1, 2022, after the corporate didn’t file its audited monetary statements for the yr ended December 31, 2021.
The Nigerian Trade Regulation Restricted (NGX RegCo) suspended buying and selling in Premier Paints’ shares, together with eight different corporations, attributable to non-compliance with post-listing disclosure necessities.
Based on its final revealed financials on the NGX, Premier Paints recorded a pretax revenue of N565,000 in This fall 2024, rebounding from a year-on-year lack of N8.2 million.
The proposed acquisition by Xenergi might affect decision-making and operational contributions which will have an effect on Premier Paints’ development and future growth plans.
