Royal Exchange Plc at its recent Extra-Ordinary General Meeting has passed a resolution to raise equity capital of N2,058,148,030 (Two Billion, Fifty Eight Million, One Hundred and Forty-Eight Thousand, Thirty Naira by Rights Issue.
The Company will issue to existing shareholders 4,116,296,059 ordinary shares of 50 kobo each on the basis of four (4) new ordinary shares for every five (5) ordinary shares held in the Company, on such other terms and conditions as the Directors may deem fit.
Shareholders have authorized the Directors to fix an amount to which the Rights Issue will be offered to existing shareholders.