Red Star Express Notifies of Revised Terms To Its Proposed Rights Issue

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Friday, November 01, 2019  /10:05 AM / By NSE / Header Image Credit: Red Star Express

 

Further to the Market Bulletin with Reference Number: NSE/RD/LRD/MB47/19/08/21, dated 21 August 2019 on the above subject, a revised terms to the proposed Rights Issue by Red star Express Plc (the Company) has been published. 

Consequently, the revised terms of the Rights Issue as stated in the SEC approved Rights Circular are now Three Hundred and Thirty-six Million, Eight Hundred and Fifty-five Thousand, Two Hundred and Ninetyone (336,855,291) ordinary shares of Fifty Kobo (N0.50) each at Four (4) Naira per share, on the basis of Four (4) new share for every Seven (7) ordinary share held.

 

The table below highlights key terms of the Rights Issue and reflects where there are changes:

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