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BAGCO: Investors to approach agents for offer certificates




Proshare NI

May 17, 2008 at 08:46 GMT


Meristem Registrars Limited has urged investors to approach agents on the non-receipt of the Nigerian Bags Manufacturing Company Plc (BAGCO) share certificates. Bunmi Oguntoye Registrar/Chief Executive Officer (CEO) of Meristem Registrars Limited, Registrars to the offer confirmed this to Proshare NI in Lagos Nigeria.


Oguntoye confirmed to Proshare NI that Meristem has dispatched through the post office every share certificate not sent to agents. “If any investor has not received his or her share certificate by now; then the person should approach the Stockbroking agents to collect” he said.


He also confirmed to Proshare NI that 700,000 investors took part in the BAGCO offer and about 400,000 investors are to get the e-certificate.


Prior to this time, Oguntoye had confirmed to Proshare NI when BAGCO came to list its shares on the floors of the Nigerian Stock Exchange (NSE) that Meristem had sent out 300,000 from the 400,000 who are to get the e-certificate to the Central Securities Clearing System Limited (CSCS) for verification and confirmation in order to get the e-certificate” he said.


He confirmed to Proshare NI that the total amount of return money is put at N13 billion. Late 2007 BAGCO approached the Nigerian Capital Market to raise fresh funds by offering to members of the investing public 1.865 billion ordinary shares of 50 Kobo at N3.90 Kobo per share.


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