11 Plc is holding its Annual General Meeting with the following details:
|Venue||:||Shell Hall, MUSON Centre, 8/9 Marina,Onikan, Lagos, NG|
About the company
11 Plc is the sole authorised distributor of Exxon Mobil fuel and lubricant brands in Nigeria. Formerly known as Mobil Oil Nigeria Plc, 11Plc produces and markets a range of petrochemicals which includes gasoline, motor oils, lubricants, marine fuel and jet fuel. The is one of 6 major petroleum product marketers in Nigeria and operates through over 250 retail outlets located in all 36 states in Nigeria. 11 Plc has a Lube Blending Plant with a capacity of 450 000 barrels per annum. It is regarded as one of the most sophisticated lube blending plants in Africa. The company dates back to 1907 when Socony Vacuum Oil Company sold Sunflower Kerosene. Its name changed to Mobil Oil Nigeria limited in 1951 and Mobil Oil Nigeria Plc in 1978. NIPCO Investment Company acquired a 60% stake in the business in 2016 and changed the name to 11 Plc (pronounced Double One Plc).
This annual general meeting (AGM) is a mandatory yearly gathering of the company’s interested shareholders. At the AGM, the directors of this company present an annual report containing information for shareholders about the company’s performance and strategy. Shareholders with voting rights vote on current issues, such as appointments to the company’s board of directors, executive compensation, dividend payments and selection of auditors.
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