Custodian Investment gets approval for takeover of UPDC

Following the approval of Securities and Exchange Commission dated May 18, 2021, Custodian Investment Plc has been authorized to proceed with a Mandatory Takeover Offer (MTO) to be made to the Minority Shareholders of UACN Property Development Company Plc (UDPC) for the purchase of up to 34,415,332 (Thirty Four Million, Four Hundred and Fifteen Thousand, Three Hundred and Thirty Two) ordinary shares of 50 kobo each, at a price of 90 kobo per share.

The qualification date for the offer is May 14, 2021, and shareholders whose name appear on the Register of Members as at the date, other than UAC of Nigeria Plc and Custodian Investment Plc are eligible to participate. The offer is expected to open on May 31, 2021 and close on July 2, 2021.

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