The Ghana Oil Company Limited (GOIL) as part of efforts to meet basic but essential legal requirements has altered its name from GOIL to GOIL PLC.
This change of name was to help the company comply with the law per the Companies Act 2019 (Act 992) section 21 (b). The law requires that all public companies limited by shares must have Public Limited Liability written as PLC as part of their names.
While updating the public on the decision to alter the name of the oil distributing company, a public notice from GOIL stated sighted by Ghana Education News said “The name change is in compliance with provisions of the Companies Act 2019 (Act 992) section 21 (b) which directs that all public companies limited by shares must have the words ‘Public Limited Company’ or the abbreviation ‘PLC’ to their registered names”.
GOIL PLC further added that the change of its name will not in any way negatively impact its services.
READ: Goil announces new fuel prices effective 22nd Dec Out
It noted however that the name change “shall not affect GOIL PLC’s operations, and all existing and already executed contracts, agreements, documents, products, and services that bear the Company’s old name shall remain valid.”
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