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Alto has already changed the name of its US subsidiary from Alto Energy Inc to Grand Gulf Energy, Inc.
On December 21, Alto shareholders approved the acquisition of Grand Gulf Energy Company’s 12.5% interest in the Foothills Minerals joint venture in the Arkoma Basin of LeFlore County, Oklahoma. This transaction was closed on January 5.
Alto managing director and chief executive James Trimble said the name change would provide Alto with an established and respected name in areas of new strategic interest.
He said the change would not require any changes in the organisation of the company and Alto, the Australian parent company, would seek approval from shareholders to change its name to Grand Gulf Energy at the next general meeting of shareholders.
