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Lafarge Africa Rights Issue records 100% subscription

Lafarge Africa

Lafarge Africa Plc has announced the results of its just concluded Rights Issue, which it said recorded 100percent subscription.

Lafarge Africa issued to existing shareholders 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 N12per share.

The Rights Issue which had opened on December 17, 2018 and closed on January 28, 2019, recorded a total of 1,826 acceptances for 7,434,367,256 units valued at N89.212billion were received in connection with the Rights Issue.

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.

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.

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.


Iheanyi Nwachukwu

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