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ETI promises on share certificate

Category: Public Offers Private Placements


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ETI promises on share certificate

PETER OBIORA

Proshare NI

August 27, 2008 at 16:51 GMT

 

 

Ecobank Transnational Incorporated (ETI) has promised investors to dispatch share certificates within 15 working days of allotment of shares by registered post.

 

This was contained in the ETI’s hybrid offer document made available to Proshare NI in Lagos Nigeria.

 

“Share certificates in respect of the allotted shares will be sent by registered post to the address indicated on the application forms within 15 working days from the allotment date” the document affirmed.

 

The document further affirmed that investors who do not wish to receive the physical share certificate should state the name of their Stockbroker and the Central Depository account number in the case of applicants who indicate their willingness to go on the Nigeria share register.

 

In the same vein, ETI has made arrangements for the lodgement/registration of all shares offered in the names of investors entitled thereto in the Securities Depositories.

 

Share certificates will be issued to applicants who wish to go on the Ghana register.

 

As earlier reported by Proshare NI, ETI on Monday August 25, 2008 opened a cross boarder $2.5 billion (N292.5 billion) hybrid offer.

 

The Pan African Bank is offering by way of Rights Issue 3,763,759,981 Ordinary Shares of US$0.025 each at US$0.27 per share in ratio of five new shares for every nine existing shares held.

 

And offer for subscription of 5,116,499,328 Ordinary Shares of US$0.025 each at US$0.29 per share.

 



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