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.