Spring Mortgage gets new date for quotations meeting

Spring Mortgage gets new date for quotations meeting

July 23 , 2008

 

PETER OBIORA

Proshare NI

July 22, 2008 at 20:26 GMT

 

Spring Mortgage Limited has gotten a new date for its quotations meeting with the Nigerian Stock Exchange (NSE). Ifeanyi Onuorah, Managing Director (MD) of the Primary Mortgage Institution (PMI) confirmed this to Proshare NI today in

LagosNigeria.

 

As earlier reported by Proshare NI, the company’s quotations/listing meeting with the NSE has been postponed several times due to the schedule of the NSE.

 

 

Onuorah confirmed to Proshare NI that that the new date given to Spring Mortgage for the meeting is now August 06, 2008.

 

 

“We have put our documents in order and are expecting to conclude with the meeting so that we can list our shares as soon as possible†he affirmed.

 

 

 

 

Prior to this time and following the appointment of two new Directors into the Board of the company in late June, 2008. Its Shareholders are prevailing on its board to ensure that the shares of Spring Mortgage are urgently listed on the Floors of the Exchange.

 

 

The shareholders affirmed that the listing would help create market confidence in the Mortgage Institution and add value to its investors.

 

 

Before this time also, Onuorah had confirmed to Proshare NI that Spring Mortgage is finally set to list its shares on the Exchange.

 

 

Spring Mortgage is seeking to list its shares on the Exchange in order to keep to its promise to investors in the placement memorandum when the company did its Private Placement (PP).

 

 

The company had in the Placement memorandum promised investors that it would list it shares by introduction in the second half of year 2008.

 

 

Late 2007 Spring Mortgage in its bid to raise fresh funds of about N3.0 billion, offered by way of placement to select members of the Nigerian investing public 2.9 billion ordinary shares of N1.00 each at N1.20 Kobo per share.



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