Lafarge Africa Plc Set to Raise N131.65bn by Way of a Rights Issue; Approval Process Ongoing

0
624
The logo of the French building materials maker Lafarge is seen in Paris, France May 22, 2017. REUTERS/Gonzalo Fuentes

NSE

Lafarge Africa Plc. (“Lafarge Africa” or “the Company”) hereby notifies The Nigerian Stock Exchange of the decision of the Board of the Company taken on September 26, 2017, in respect of the proposed Rights Issue.

Following the resolution of the shareholders, passed at the Annual General Meeting held on June 7, 2017, the Board of Directors have approved the terms of the Rights Issue. Lafarge Africa will raise N131.65billion by way of a Rights Issue at N42.50 per share, by issuing 5 new shares for every 9 shares held by shareholders, at the Qualification Date, which is to be announced.

The Rights Price represents a c 17.44% discount on Lafarge Africa’s traded closing price as at Friday September 22, 2017.

The regulatory approval process is on-going.

SHARE
Previous articleFBNHoldings Plc Q1’ 2017 Performance Assessment Report Updated
Next articleNigeria wastes 16,729mw in 7 days as electricity load rejection persists
Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.