Lafarge gets approval to extend rights issue period

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Lafarge Africa Plc says it has received the approval of the Securities and Exchange Commission to extend the period of its rights issue.

According to a statement made available to the Nigerian Stock Exchange on Tuesday, the rights issue will now close on January 28, 2019, as opposed to the January 26 date earlier stated.

Lafarge said the closure date of the rights issue was shifted because the original date was not a business day.

The statement read in part, “Further to the market bulletin with reference number: NSE/RD/LRD/MB6/18/12/17, dated December 17, 2018 on the above subject matter, dealing members are hereby notified that Lafarge Africa Plc has obtained the approval of the Securities and Exchange Commission to change the closure date of its rights issue.

“The rights issue will now close on Monday, January 28, 2019, as against Saturday, January 26 earlier announced since January 26 is not a business day.”

The firm proposed a rights issue of 7,434,367,256 ordinary shares of 50 kobo each at N12 per share on the basis of six new ordinary shares for every seven ordinary shares held as of December 4, 2018.

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