Ellah Lakes Plc announces Rights Issue of 1bn ordinary shares at N2.90

Ellah Lakes Plc has notified its Shareholders, Stakeholders, Nigerian Exchange Limited and the general public, that the Company has obtained approval from the Securities Exchange Commission to conduct the signing ceremony with regards to the proposed Rights Issue of 1,000,000,000 Ordinary Shares of 50 Kobo each at N2.90 Per Share, on the basis of one (1) new ordinary share for every two (2) ordinary shares held. The Qualification Date for the Rights Issue is 10th February 2023.

Subject to the approval of the executed offer documents by the SEC, the application list is expected to open on the 9th of October 2023, or any other date approved by the Commission and shall open for a maximum period of 28 days.

Rights circular will be distributed to shareholders while application forms will also be made available on the website of the company’s Registrars for ease of access.

Shareholders are advised to contact their stockbrokers and other financial advisers for more details of the offer.

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