UACN Rights Issue of 960.43m Ordinary Shares Opens Today

Kindly be informed that UAC of Nigeria Plc (UACN) has kicked off its Right Issue of 960,432,193 ordinary shares of 50 kobo each to existing shareholders at an offer price of N16.00 per share on the basis one (1) new ordinary shares for every two (2) ordinary shares held as at the close of business on Thursday, October 19, 2017.
The Rights Issue is aimed at raising a total of N15.4 billion in a bid to boost the Company’s working capital and also re-capitalize the subsidiaries within the Group. The offer period opens today November 15, 2017, and closes on Friday, December 22, 2017.
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