Peace Mass Transit Acquires Redeemable Convertible Loan Stock of CILEASING

Proshare

Tuesday, January 05, 2021 / 2:04 PM / NSE / Header Image Credit: Hotelsng


C&I Leasing Plc ("the Company") hereby notifies the investing public of the purchase of 313,326,316 units of the Neoma Africa Fund L.L.C. (formerly Aureos Africa Fund, L.L.C.) unsecured variable coupon redeemable convertible loan stock in registered units of N4.75 each or its US$ equivalent in C&I Leasing Plc by Peace Mass Transit Limited.

 

The company was also notified that all requisite documents in connection with the transaction have been executed by parties.

 

The loan stock, when fully converted, will result in the issuance of 987,500,000 (Nine Hundred and Eighty-Seven Million and Five Hundred Thousand) Ordinary Shares of the Company which will represent 55.82% of the issued shares of the Company.

 

The transaction will strengthen the capital base of The Company and improve clarity of the capital structure. This is highly beneficial to the company as the need for a possible redemption of the Notes, with the company's cash resources, has been eliminated. It is against this background that the shareholders approved the Conversion of the Notes to ordinary shares at an Extraordinary General Meeting held on 3rd November 2020.

 

The purchase and eventual conversion of the shares will strengthen The Company's credentials as a leading Nigerian-owned service provider with operations in Nigeria, Ghana, and the United Arab Emirates.

 

The Directors believe that this is a very positive development for the Company.

 

Visit C&I Leasing Plc IR Page in Proshare MARKETS

Graph - One Year Share Price Movement

 Proshare Nigeria Pvt. Ltd.

 

Table:  Q3 2020 Unaudited Results

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Related News

1.    CILEASING Declares N343m PAT in Q3 Unaudited 2020 Results SP N4.34k ...

2.   C and I Leasing Plans Capital Raise In H2 2020...

3.   CILEASING to Hold 54th AGM on July 18 2019

4.  CILEASING Releases Q1 2019 and 2018 Audited Results; Declares N398.46m PAT in Q1, (SP:N7.20k)

5.  CILEASING Notifies of Delay in Filing of the Company's 2018 AFS

6.  CILEASING Notifies of the Company's Board Meeting and Closed Period

7.   CILEASING Updates on the Delay in the Reconciliation of Shareholdings

8.  Abraaj Confirms Intention to Convert Aureos Africa Fund Of US$10m Loan Stock In CILEASING To Equity

9.   CCNN, CILEASING and NEM Top As Best Performing Stocks YTD

 

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP