At the annual general meeting (AGM) of
THISDAY understands that a total of 6,300,000,000 ordinary shares of 50 kobo each will be offered to existing shareholders in the ratio of seven new ordinary shares for every ordinary share held as at the close of business on Wednesday,
The company said the net proceeds of the Issue will be used to repay the company's existing debt and reduce the interest burden which will potentially enhance the company's operations and reposition it for profitability and growth.
At the signing ceremony held
He also urged the company's shareholders to seize this opportunity and take up their rights so as to support the company's future growth plans.
The Head of
The rights circular for the issue, which contains a Provisional Allotment Letter and the Acceptance/Renunciation Form, will be mailed directly to shareholders of the company.
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