Lafarge Africa Plc through Adewunmi Alode, the Company Secretary notifies The Nigerian Stock Exchange and the investing public about the resolutions of the meeting of its Board of Directors held on Friday, 15th February 2019 on the Allotment Proposal presented by the Joint Issuing Houses, mandating the Rights Issue be approved; and that the Joint Issuing Houses be authorised to submit the Allotment Proposal for clearance by the Securities and Exchange Commission.
Note: Allotment of shares is the issuing of new shares to the existing shareholders or to third parties. The Directors of a Company can allot shares when there is need to raise additional capital for the Company, if they have the authority to do so.