Transcorp Hotels N10b Rights Issue Offer is Officially Open

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

The Rights Issue of Transcorp Hotels Plc is officially open. The company is offering by way of rights 2,659,574,468 ordinary shares at 50kobo at N3.76 per share each.

The offer is open to shareholders (and other interested investors).

Transcorp Hotels, owners of Transcorp Hilton Abuja and Transcorp Hotels Calabar, is raising N10 billion through the issuance of 2.66 billion ordinary shares of 50 kobo each at N3.76 per share to prequalified shareholders. The rights were pre-allotted to existing shareholders on the basis of seven new ordinary shares for every 20 ordinary shares of 50 kobo each held as at Monday, July 13, 2020.

Transcorp Hotels N10b Rights Issue Offer is Officially Open

Acceptance list for the rights issue opened Monday, October 5, 2020 and will run till close of business on Wednesday, November 11, 2020.

- Advertisement -

The shares are being issued from the authorised share capital of the company which is at N7.50 billion of 15 billion ordinary shares of 50 kobo each. Post-offer fully paid-up share capital will be N5.13 billion of 10.26 billion ordinary shares of 50 kobo each.

Shareholders had earlier at an extraordinary general meeting last month in Lagos approved the N10 billion rights issue. The Nigerian Stock Exchange (NSE) has also approved the rights issue, which will be listed as supplementary shares on the Exchange.

Read Also:  Transcorp Hotels Plc Appoints Mrs. Oluwatobiloba Titilope Ojediran As Acting Chief Financial Officer

Chairman, Transcorp Hotels, Emmanuel Nnorom said the approval and endorsement of the rights by shareholders empowered the board and management to look to the future with confidence despite the current harsh operating environment.

Managing Director, Transcorp Hotels Plc, Mrs. Dupe Olusola, said the company’s track record of excellent service delivery has positioned it as the first choice for international and local guests.

- Advertisement -

“We are not resting on our oars but working round the clock to innovate new products and services to further delight our guests, notable of such is the launch of asset-light strategies to deepen our hospitality footprints across Africa,” Olusola said.

Read Also:  Q4 2017: 7.82m Workers Are Registered Under the Pension Scheme - NBS

She added that while the world has been greatly impacted by the COVID-19 pandemic, with the hospitality industry being one of the hardest hit, Transcorp Hotels is optimistic about a great recovery for the sector.

- Advertisement -
Transcorp Hotels N10b Rights Issue Offer is Officially Open - Brand SpurTranscorp Hotels N10b Rights Issue Offer is Officially Open - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

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

Transcorp Hotels N10b Rights Issue Offer is Officially Open - Brand SpurTranscorp Hotels N10b Rights Issue Offer is Officially Open - Brand Spur

Latest News

Ogun State Tackles Maternal Mortality, Distribute Tricycle Ambulances To Primary Health Centres (Photos)

As part of efforts to improve the health indices of citizens as well as put an end to maternal...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Transcorp Hotels N10b Rights Issue Offer is Officially Open - Brand SpurTranscorp Hotels N10b Rights Issue Offer is Officially Open - Brand Spur