C&I Leasing Plc has notified the Nigerian Exchange and the investing public of its proposed bonus issue of 2 units of ordinary shares of 50 Kobo for every 3 shares held by shareholders.
At the Annual General Meeting of C&I Leasing Plc (the Company) held virtually on the 23rd of September 2024, part of the resolutions passed is stated thus:
“That the Directors are hereby authorized to capitalize the sum of N589,715,389 from the share premium account of the company which is currently at 3,361,609,000 (Three Billion, Three Hundred and Sixty-One Million, Six Hundred and Nine Thousand Naira) to issue a bonus share of 2 units of ordinary shares of 50 Kobo for every 3 shares held by shareholders of the company as at the close of business on 4th January 2024 which bonus shall rank pari passu in all respect with the existing shares of the Company. This bonus offer translates to 1,179,430,778 (One Billion, One Hundred and Seventy-Nine Million, Four Hundred and Thirty Thousand, Seven Hundred and Seventy-Eight) units”.
That the Directors are authorized to cancel the balance of 51,423,055 (FiftyOne Million, Four Hundred and Twenty-Three Thousand, Fifty-Five Naira) units of unutilized ordinary shares of 50 Kobo each with the Corporate Affairs Commission.