May 9, 2012 / Guardian

To further consolidate on the company’s ongoing diversification agenda, National Aviation Handling Company (NAHCO) Plc has concluded plans to raise fresh capital.

Already, the company has notified the Nigerian Stock Exchange (NSE) of the resolutions that was taken during its board of directors meeting in April.

The resolve however, is subject to the approval of shareholders at the forthcoming yearly general meeting slated for June 7, 2012.

The proposed resolution included: “That the directors be and are hereby authorised to take all steps necessary for the company or any of its subsidiaries to raise additional capital for the company’s diversification, power needs and any other projects in line with the company’s African expansion and diversification objectives.

“That the board “be further authorised to raise such capital via the issue of debt instruments, preference shares (convertible or non-convertible) or ordinary shares or a combination of any of these options whether by way of private placement, rights to existing shareholders, offer for subscription or in any manner, which the directors deem appropriate, locally or internationally, upon such terms and conditions to be determined at the discretion of the directors subject to any requisite regulatory approvals.”

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