Economy
SEC Approves C&I Leasing Rights Issue
The proposed sale of 539,003,333 ordinary shares of 50 kobo each of C&I Leasing Plc through rights issue has received the approval of the Securities and Exchange Commission (SEC).
The company has been given the go-ahead to conduct the rights issue by opening subscription from Monday, November 18, 2019 and close the exercise by Friday, December 27, 2019.
C&I Leasing is selling the new shares to existing shareholders of the firm on the basis of four new ordinary shares for every three ordinary shares held as at the close of business on Wednesday, September 4, 2019.
In a statement issued by the organisation, shareholders of the firm were advised to contact their stockbrokers and other financial advisers for more details on the offer.
“C&I Leasing Plc is pleased to notify its esteemed shareholders, stakeholders, the Nigerian Stock Exchange (NSE) and the general public, that the company has obtained an approval from the Securities Exchange Commission (SEC) to open subscription on the rights issue of 539,003,333 ordinary shares of 50 kobo each at N6.00 per share, on the basis of four new ordinary shares for every three ordinary shares held.
The qualification date for the rights issue was Wednesday, September 4, 2019.
“Following the approval, the offer opens today on Monday, November 18, 2019 and closes on Friday of December 27, 2019.
“The rights e-circular is being distributed to shareholders while application forms are also available on the website of the company’s registrars, Centurion Registrars for ease of access, http://centurionregistrars.com,” the notice said.
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