UACN Property Development Company Plc Submits Application For Approval and Listing of A Rights Issue

UACN: Bracing For Growth Through Restructuring

Dealing Members are hereby notified that UACN Property Development Company Plc (“UPDC”) has through its Stockbroker, Stanbic IBTC Stockbrokers Limited, submitted an application to The Nigerian Stock Exchange for the approval and listing of a Rights Issue of Fifteen Billion, Nine Hundred and SixtyOne Million, Five Hundred and Sixty-Three Thousand, Two Hundred and Sixty (15,961, 563, 260) ordinary shares of Fifty Kobo (N0.50) each at One Naira (N1.00) per share, on the basis of forty-three (43) new ordinary shares for every seven (7) ordinary shares held.

The Qualification Date for the Rights is today Monday, 30 September 2019.