Dipo Olowookere
By Dipo Olowookere
The board of C&I Leasing Plc has informed the Securities and Exchange Commission (SEC) of its willingness to conduct a rights issue of 539,003,333 ordinary shares of the company of 50 kobo each at N6.00 each on the basis of four new ordinary shares for every three ordinary shares held by its investors.
In a notice to the Nigerian Stock Exchange (NSE), the board said the application was sent to SEC for approval of the exercise, which has a qualification date of Wednesday, September 4, 2019.
“C&I Leasing Plc is pleased to notify its esteemed shareholders, stakeholders, the Nigerian Stock Exchange (The Exchange) and the general public, that the company has filed an application with the Securities Exchange Commission (SEC) for approval to undergo a rights issue of 539,003,333 ordinary shares of N0.50 each at N6.00 per share, on the basis of four new ordinary shares for every three ordinary shares held,” the notice said.
Continuing, C&I Leasing said, “Subject to the approval of the SEC, the company shall hold a signing ceremony to execute all offer documents before opening the offer in line with the approval obtained.”
“Rights circular will be distributed to shareholders while application forms would also be made available on the website of the company’s Registrars for ease of access,” he added.
“Esteemed shareholders are advised to contact their stockbrokers and other financial advisers for more details of the offer,” the company concluded.
This update from C&I Leasing comes days after Business Post reported that the board had filed an application to the NSE to approve the rights issue through its stockbroker, CSL Stockbrokers Limited. READ IT HERE
