Lafarge notifies NSE of Proposed Rights Issue

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Pix 1 :Group Managing Director, Lafarge, Mr. Michel Puchercos, CEO, Nigerian Stock Exchange, Mr. Oscar Onyeama; Chairman, United Bank for Africa, Mr. Tony Elumelu; Chairman Seplat, Dr. ABC Orjiakor; Chairman, Access Bank, Mrs. Mosun Belo-Olusoga; Chairman, Lafarge, Mr. Mobolaji Balogun; Group Managing Director, Access Bank, Mr. Herbert Wigwe; Group Managing Director, Seplat, Mr. Ojunekwu Augustine Avuru; and Group Managing Director/CEO, UBA Plc, Mr. Kennedy Uzoka, during the official ceremony to announce the migration of United Bank for Africa Plc and three other companies to the Premium Board of the Nigerian Stock Exchange on Monday

Lafarge notifies NSE of Proposed Rights Issue valued Investor,
Lafarge Africa Plc (“Lafarge Africa”) has notified The Nigerian Stock Exchange of the decision of the Board of
Directors at the meeting held yesterday, 3rd December 2018 in respect of the proposed Rights Issue.
Following the resolution of Lafarge Africa’s Shareholders passed at the Extra-Ordinary General Meeting held
on the 25th September 2018, the Board of Directors have approved the terms of the Rights Issue.
Lafarge Africa Plc will raise N89.21billion by way of a Rights Issue at N12.00 per share, by issuing 6 new shares
for every 7 shares held by shareholders at the Qualification Date, which will be announced.
The Rights Price represents a 10.45% discount on Lafarge Africa’s traded closing price as at Monday, 3rd
December 2018.
The regulatory approval process is ongoing.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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