Nigeria: BOC Gases Changes Name After TY Danjuma’s Acquisition of 72 Percent Stake

Until becoming the majority owner of the firm, TY Holdings held 12 per cent of BOC Gases outstanding shares.

BOC Gases Nigeria Plc will now be known as Industrial and Medical Gases Nigeria Plc after discarding name it adopted 14 years ago, a note by the company showed on Thursday.

The name drop follows the buyout of 60 per cent shareholding in BOC Gases equivalent to 249,746,823 ordinary shares in August by TY Holdings Limited, owned by Theophilus Yakubu Danjuma, Nigeria’s former defence minister, from Guildford-based BOC Holdings UK.

Until becoming the majority owner of the firm, TY Holdings held 12 per cent of BOC Gases outstanding shares.

“The company has obtained a new certificate of incorporation from the Corporate Affairs Commission,” BOC Gases said in the document published by the Nigerian Exchange and seen by PREMIUM TIMES.

The company, whose interests span industrial and medical gas production as well as sale of special gases, welding and medical equipment, has also changed its logo and trademark in the spirit of the new transformation.

Hendrik Mentz de Waal and Joseph Ramashala – both non-executive directors – exited the gas manufacturers in August, six days after the takeover.