The management of Africa’s cement producing giant Lafarge Africa (West Africa Portland Cement- WAPCO), has announced that its board of directors will have an emergency meeting 3rd December, 2018 to consider its right issue price.
The cement producing outfit in a statement signed by Adewunmi Alode, its company secretary, said that ‘we hereby notify the Nigerian Stock Exchange and the investing public that an emergency meeting of the Board of Directors of Lafarge Africa Plc will hold on the 3 rd December 2018 to consider the Rights Issue price.”
“Accordingly, no Director, Employee, Persons discharging managerial responsibility and Advisers of the Company and their connected persons may directly or indirectly deal in the shares of the company until information regarding the Rights Issue price is released on the floor of the Nigerian Stock Exchange” it further stated.
It will be recalled that mid 2018- July, the board of directors of Lafarge Africa with the quest of improving the company’s profit and recorded financial growth approved a new right issue of up to N90 billion which was put forward by the company’s management.
The proposed plan was towards raising N90 billion through a Rights Issue and the restructuring of its outstanding short term $315 million shareholder loans which was approved the its shareholders at its extra-ordinary general meeting which was help in September 2018.
No comments:
Post a Comment