Tuesday, December 04,
2018 / 10:16 AM / NSE
Lafarge Africa Plc (“Lafarge Africa”) hereby notifies The Nigerian Stock Exchange of the decision of the Board of Directors at the meeting held yesterday, 3rd December 2018 in respect of the proposed Rights Issue.
Following the resolution of our Shareholders passed at the Extra-Ordinary General Meeting held on the 25th September 2018, the Board of Directors have approved the terms of the Rights Issue.
Lafarge Africa Plc will raise N89.21billion by way of a Rights Issue at N12.00 per share, by issuing 6 new shares for every 7 shares held by shareholders at the Qualification Date, which will be announced.
The Rights Price represents a c.10.45% discount on Lafarge Africa’s traded closing price as at Monday, 3rd December 2018.
The regulatory approval process is ongoing.
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