Notice to Dealing Members on Proposed Rights Issue of Unity Bank
Category: Investors NewsBeat
Notice is hereby given that The Exchange has received an application from Unity Bank Plc in respect of its proposed Rights Issue of 23, 928,142, 026 ordinary shares of 50k each at N1.00 per share. This is on the basis of three new shares for every two already held as at April 27, 2010.
Proshare Comment/Post Script:
Unity Bank last presented its annual audited accounts for the 2007 FYE while its 2008 Audited Accounts remain outstanding and the present financial position of the bank cannot yet be ascertained since it has not released either its 2009 Full Year Result to June 30, 2009 or its Common Year End result to December 31, 2009. We are concerned which accounts Exchange is using to approve the Rights Issue.