By Aduragbemi Omiyale
Shareholders of Fidson Healthcare Plc have authorised the board of directors to raise fresh N20 billion from the capital market.
The approval for the capital-raising was given at the 25th Annual General Meeting (AGM) of the pharmaceutical company last week in Lagos.
The board was given the option to source the funds through a rights issue, private placement, public offer, strategic allotment or a combination of any of the options.
At the gathering of the company’s investors, the board was asked to take every necessary step to obtain regulatory approvals, including from the Securities and Exchange Commission (SEC) for capital-raising.
“The directors be and are hereby authorised to raise additional capital of up to N20 billion or such amount as the directors may deem fit through an allotment of shares to be issued whether by way of a public offering, rights issue, strategic allotment, private/special placement of shares or through a combination of methods, subject to terms and conditions to be determined by the directors,” a part of the resolutions ratified read.
Business Post reports that also at the AGM, the shareholders approved the 60 Kobo per share dividend proposed by the board, amounting to N1.4 billion.
Dipo Olowookere 
Adedapo Adesanya