By Modupe Gbadeyanka
The board of Lafarge Africa Plc, a company trading its securities on the Nigerian Stock Exchange (NSE), has expressed its intention to raise the sum of N90 billion from its shareholders.
This would be carried out through rights issue by way of a rights issue of ordinary shares to its shareholders.
A statement issued by the firm on Monday disclosed that the rights issue would be “executed at such price, time, for such period and on such other terms and conditions as the directors may deem fit.”
Also, Lafarge Africa stated that it plans to create additional 10 billion ordinary shares of 50 kobo each.
This is expected to increase its authorised share capital to 20 billion ordinary shares.
At the moment, Lafarge Africa has authorised share capital of N5 billion consisting of 10 billion ordinary shares.
As a result of the creation of additional shares and the proposed N90 billion rights issue, the board of Lafarge Africa has called its shareholders for an extraordinary general meeting, which is fixed for September 25, 2018, at the MUSON Centre (Shell Hall), Lagos at 9am, for approval.
more recommended stories
One-Month Treasury Yield Falls to 8.99%
By Dipo Olowookere The secondary market.
Nigeria’s Eurobonds Debt Rises to $10.9bn from $1.5bn in 2015
By Adedapo Adesanya Nigeria’s external debt.
LCCI to CBN: Cash Reserve Ratio of 22.5% too High
By Adedapo Adesanya The Lagos Chamber.
Nigerian Stocks Regain Freedom After 7-Day Hostage, up 0.20%
By Dipo Olowookere After being in.
Africa Prudential Grows Net Profit to N1bn in Six Months
By Dipo Olowookere Leading share registration.
Cadbury Nigeria Bounces Back to Profitability, Posts N669.9m PAT
By Dipo Olowookere The appointment of.
Nigeria to Sell Fresh N145bn Bonds Next Wednesday
By Adedapo Adesanya The Federal Government.
United Capital’s Revenue, PAT Drop 17% in H1 2019
By Dipo Olowookere The revenue generated.