The rights issue of 63,342,455 ordinary shares of 50 kobo each by VFD Group Plc, valued at N197.33 per share and valued at N12.499 billion, has been placed on the Nigerian Exchange Limited (NGX) Daily Official List.
The extra shares listed on NGX resulted from VFDs’ Rights Issue based on One (1) Ordinary Share for Every Three (3) Ordinary Shares Held as of the Close of Business on October 12, 2023 on Nigerian Exchange Limited, according to the NGX in its weekly report, which Nairametrics was able to view.
The report stated that the total issued and fully paid-up shares of VFD have now increased from 190,027,365 to 253,369,820 ordinary shares of 50 kobo each with the listing of the additional 63,342,455 shares.
The text of the statement is as follows: “Trading Licence Holders are hereby notified that an additional 63,342,455 ordinary shares of 50 kobo each per share of VFD Group Plc (VFD or the Company) were on Friday, 5 April 2024, listed on the Daily Official List of the Nigerian Exchange Limited (NGX).”
“The additional shares listed on NGX arose from VFD’s Rights Issue of 63,342,455 ordinary shares of 50 Kobo each at N197.33 per share.”
“With this listing of the additional 63,342,455 ordinary shares, the total issued and fully paid-up shares of VFD has now increased from 190,027,365 to 253,369,820 ordinary shares of 50 kobo each.”
The Securities and Exchange Commission (SEC) has authorised VFD Group Plc’s 63,342,455 Ordinary Shares of 50 Kobo each at N197.33 per share, according to a recent News Chronicles story.
This was stated in the company’s notice to the Nigerian Exchange Limited and the general public, as obtained by TNC.
VFD Group Plc has received approval from the Securities Exchange Commission (SEC) to offer to the shareholders the proposed Rights Issue of 63,342,455 Ordinary Shares of 50 Kobo each at N197.33 Per Share, based on one (1) new Ordinary Share for every three (3) existing Ordinary Shares held, according to a statement signed by Gbeminiyi Shoda, Group Company Secretary.
It stated that the application list commenced on December 20, 2023, as approved by the Commission, and that it would remain open for a maximum of 31 days. The Qualification Date for the Rights Issue is October 12, 2023.
The group claims that application forms will be easily accessible on the company’s Registrars’ website, and that the Rights circular will be sent to shareholders.
