Tag Archives: Atlas Development & Support Services Limited

African Oilfield Logistics Limited rebrands to Atlas Development & Support Services Limited

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African focused support services and Logistics Company formerly known as Africa Oilfield Logistics Limited announces that it has completed its change of name to Atlas Development & Support Services Limited and effective 28th October.

This follows the acquisition of the entire issued share capital of Ardan Logistics Kenya Limited by Africa Oilfield Logistics Ltd following shareholder approval after the Company’s general meeting held on 23rd October.

During the acquisition Africa logistics CEO Carl Esprey noted that the new unit to operate under  a new brand  Atlas Development & Support Services that would rapidly expand its service lines across a broad geographic area, and bring its turn-key support services to clients operating within the booming East African exploration and development industries.

The renaming is under the framework and option agreement signed in March that allowed Africa Oilfield Kenya following the 100% acquisition of Ardan to separate and operate under a new shell company from which the restructured business of Ardan would be operated.

Under the new arrangement shareholders holding the existing share certificates in the name of Africa Oilfield Logistics Limited are advised that their equities will remain valid with new share certificates which are issued by the Company to be under the name of Atlas Development.

“I am delighted to confirm our formal change of name, which marks a new chapter in the development of the Company and our operations across Africa.  During the course of 2014 our business has been systematically recalibrated to provide a scalable foundation for a highly efficient, profitable business which delivers world-class services to our ever expanding roster of clients says Carl Esprey, Chief Executive Officer of Atlas Development.

“ Demonstrable positive results have been achieved in the past nine months and I believe that under the new Atlas Development brand, we will continue this positive trajectory into 2015 and beyond and be well positioned to execute our vision of becoming the most professional, efficient and profitable turn-key development and support services group in Africa,” he concludes.

Africa Oilfield Logistics Ltd seeks to fully acquire Ardan Logistics Kenya Limited

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Africa Oilfield Logistics Ltd has announced that the Board has decided to exercise the call option granted to it pursuant to the framework and option agreement announced on 28 March 2014 to acquire the entire issued share capital of Ardan Logistics Kenya Limited.

Exercise of the Call Option constitutes a reverse takeover under the AIM Rules and is therefore conditional, on shareholder approval which will be sought at a general meeting to be held on 22 October 2014.

At the General Meeting, shareholder approval will also be sought to change the Company’s name to “Atlas Development & Support Services Limited” and to make certain amendments to the Company’s articles of incorporation.

Africa Oilfield logistics has also announced the resignations of Mr Phil Edmonds and Mr Andrew Burns from the board – with Mr Ian Mann taking up the position of Chairman – together with the appointments of Mr Lachlan Monro as Chief Operating Officer and Mr Barry Lobel as Chief Financial Officer, with immediate effect.

“The acquisition of the entirety of Ardan’s operations is the next step in the Company’s objective of becoming the leading professional, efficient and profitable turn-key development and support services group in sub-Saharan Africa.  Under the new branding of “Atlas Development & Support Services”, we intend to take a joined-up approach to the expansion and delivery of our industry-leading services, extending the current contract base, new business pipeline and geographic reach of operations and further enhancing the revenue generation of the Group,” says Chief Executive Officer of Africa Oilfield Carl Esprey.

A fortnight ago  Africa Oilfield Logistics Ltd has announced that Ardan Risk & Support Services had entered into a 15 year lease over a sizeable land plot in Northern Kenya to be used for warehousing, fuel distribution, cold storage and fleet maintenance.