Lafarge Africa Gives Report On “Rights Issue” Performance


Following Lafarge Africa Plc rights issue of 7,434,367,256 ordinary shares of 50 kobo each on the basis of six (6) ordinary shares for every seven (7) ordinary shares held as at December 4, 2018 at N12.00 per share on which opened on December 17, 2018 and closed on January 28, 2019, a total of 1,826 acceptances for 7,434,367,256 units valued at N89,212,407,072 were received in connection with the rights issue.

A summary of the Rights Issue is outlined below:

With respect to the rights circular dated December 10, 2018, a total of 1,826 applications for 7,434,367,256 ordinary shares were accepted in connection with the Rights Issue

1,826 Acceptance Forms for 7,434,367,256 units of the Rights received were found to be valid under the terms of the rights and were processed accordingly. The rights issue was therefore 100% subscribed.

  • 1,734 shareholders accepted their Rights in full totaling 5,931,501,457 ordinary shares, out of which 738,731,071 ordinary shares were traded on the floor of the Nigerian Stock Exchange (NSE)
  • 92 shareholders with a provisional allotment of 395,875,060 ordinary shares partially accepted their Rights for 202,401,994 ordinary shares. Thus the balance of 193,473,066 ordinary shares were renounced.
  • 34 subscribers purchased rights of 738,731,071 Ordinary Shares on the floor of the Nigerian Stock Exchange (NSE).
  • Of the 1,734 shareholders who took up their Rights in full, 734 shareholders also applied for additional 1,300,463,805 ordinary shares and were allotted in full from the renounced Rights.
  • A total of 1,106,990,739 ordinary shares were fully renounced bringing the total number of shares renounced to 1,300,463,805 ordinary shares.

The above stated basis of allotment, as well as this announcement has been cleared by the Securities & Exchange Commission (SEC).

The Registrars to the Offer, CardinalStone Registrars Limited of 358 Herbert Macaulay Road, Lagos, will credit the shares allotted to the CSCS accounts of applicants who have indicated their CSCS account numbers on their respective application forms with the shares allotted not later than March 19, 2019.

Surplus monies due to subscribers will be returned within five (5) working days of approval of allotment of securities in accordance with the rules and regulations of the Commission.

Sorry! The Author has not filled his profile.
Sorry! The Author has not filled his profile.

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.