News : UPDC Opens Right Issue of 1.7 Billion Ordinary Shares

April 20, 2017

UACN Property Development Company Plc (UPDC) has opened a Rights Issue offer 1,718,750,000 Ordinary Shares of 50 Kobo each at N3.00 per share, on the basis of one (1) new Ordinary Share for every one (1) Ordinary Share held as at the close of business on 19 January, 2017.

While encouraging eligible shareholders to take up their Rights, the company confirmed that the Rights being offered are tradable on the floor of the Nigerian Stock Exchange for the duration of the Rights Issue.

Financial Advisers to the Offer noted in the Rights Circular that completed Acceptance/Renunciation Forms together with a cheque or bank draft / evidence of payment for the full amount payable should be submitted no later than the date stated in the rights circular to only the receiving agents listed in the Rights Circular.

Application opened on Tuesday, April 18, 2017, and will close on Friday, May 26, 2017.

April 20, 2017

Where to Find Us

Africa Prudential Registrars Plc

220B, Ikorodu Road, Palmgrove Lagos,

Nigeria.

Call: +234-7080606400

Email: info@africaprudentialregistrars.com