C&I Leasing gets SEC approval for N3bn Rights Issue

C&I Leasing Plc has notified 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 conduct the signing ceremony with regards to the proposed Rights Issue of 539,003,333 ordinary shares of 50kobo each at N6 per share.

The Rights Issue is on the basis of four (4) new ordinary shares for every three (3) ordinary shares held by existing shareholders of the company.

The Qualification Date for the Rights Issue is Wednesday, 4 September 2019.

Subject to the approval of the executed offer documents by the SEC, the application list is expected to open on the 11th of November 2019 or any other date approved by the Commission and shall open for a maximum period of 28 days.

Rights circular will be distributed to shareholders while application forms would also be made available on the website of the company’s Registrars for ease of access.

The company has asked its esteemed shareholders to contact their stockbrokers and other financial advisers for more details on the offer.

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Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.