Transnational Corporation Plc (Transcorp) has notified the investing public of its proposed share reconstruction.
In a notice to the Nigerian Exchange about the Company’s Annual General Meeting (AGM) scheduled to hold on Monday, May 27, 2024, at the Lagos/Osun Hall, Transcorp Hilton Abuja, part of the resolutions at the AGM is stated thus:
“That subject and pursuant to applicable law and regulatory approval, the 40,647,990,293 (Forty Billion, Six Hundred and Forty-Seven Million, Nine Hundred and Ninety Thousand, Two Hundred and Ninety-Three) ordinary shares of N0.50 (Fifty Kobo) each in the share capital of the Company be consolidated by way of share reduction into 10,161,997,574 (Ten Billion, One Hundred and Sixty-One Million, Nine Hundred and Ninety-Seven Thousand, Five Hundred and Seventy-Four) ordinary shares of N0.50 (Fifty Kobo) each, such shares having the same rights and being subject to the same restrictions as the existing 40,647,990,293 shares of N0.50 each in the share capital of the Company.“