FCMB Group Plc has notified the Nigerian Exchange Limited and the investing public that it has got shareholders’ approval to raise additional capital of N150 billion.
In one of the resolutions passed at the recent Annual General Meeting, the Company stated thus:
The Company be and is hereby authorised to raise additional capital of up to ₦150,000,000,000.00, (One Hundred and Fifty Billion Naira) or its equivalent in such other currency as the directors may decide, through the issuance of securities comprising ordinary shares, preference shares, convertible or non-convertible notes, bonds or any other instruments, in the Nigerian and/or international capital markets, either as a standalone issue(s) or by the establishment of capital raising programme(s), whether by way of public offerings, private placements, rights issues and/or such other transaction modes, at price(s), coupon or interest rates determined through book building or any other acceptable valuation method or combination of methods, in such tranches, series or proportions, within such maturity periods and at such dates and upon such terms and conditions, as may be determined by the Board of Directors subject to obtaining the requisite approvals of the relevant regulatory authorities.