EVANS Medical Plc has concluded plans to roll out about half a billion ordinary shares of the company beginning from April 10, 2014.
The Rights Issue of 486,472,800 ordinary shares of 50k each is offered at N2.50k to existing shareholders at a ratio of one ordinary share for every share currently held.
At a recent board meeting, where the details were finalised, Chairman of Evans Medical Plc, Ademola Edu commended the stakeholders, especially the issuing houses, Meristem Securities limited and Skye Financial Services limited, for a painstaking effort.
Edu also thanked the regulators: Nigerian Stock Exchange and Securities and Exchange Commission for a thorough job culminating in the holding of the Completion Board Meeting.
Confirming that arrangements for the Rights Issue of 486,472,800 Ordinary Shares of 50K each by Meristem Securities Limited and Skye Financial Limited on behalf of Evans Medical Plc have been concluded, Cautious Services Limited, Secretary to Evans Medical Plc, presented to the meeting letters of consents from all parties and stakeholders to the rights issue.
Following the presentation of all necessary documentation for the Rights Issue and acceptance by all parties involved, all stakeholders at the meeting endorsed copies of the presented documents, therefore setting the Rights Issue on offer between April 10, 2014 and May 21, 2014.
Group Managing Director, Evans Medical Plc, Chief Bunmi Olaopa assured that with the inflow of the envisaged funds into the company, the company’s position would be strengthened and Evans Medical Plc would be “put in good stead to surmount the challenges that are continually evolving in the pharmaceutical industry both locally and globally.”
