McNichols Consolidated Plc has notified the Nigerian Exchange and the investing public that it has obtained an approval from the Securities and Exchange Commission to conduct the signing ceremony with regards to the proposed Rights Issue of 531,242,609 ordinary shares of 50 kobo each at 50 kobo per share on the basis of 17 ordinary shares for every 23 ordinary shares held.
The qualification date for Rights Issue is 16th of September 2022.
Subject to the approval of the executed offer documents by the SEC, the application list is expected to open on the 9th of August 2023 or any other date approved by the Securities and Exchange Commission and shall be open up to August 31, 2023 or any other date approved by the commission.
Rights circular will be distributed to shareholders while application forms would also be made available on the website of the Company’s Registrars for ease of access.
Shareholders are advised to contact their stock brokers and other financial advisers for more details of the offer.