UPDC Lists Additional 15.96 Billion Shares from Rights Issue

June 2, 2020/NSE

An additional 15,961,574,145 ordinary shares of UACN Property Development Company Plc (UPDC or the Company) were today, Tuesday, 2 June 2020 listed on the Daily Official List of The Nigerian Stock Exchange (The Exchange).

The additional shares listed on The Exchange arose from the Company’s Rights Issue of 15,961,574,145 ordinary shares of 50 kobo each at N1.00 per share on the basis of 43 new ordinary shares for every 7 ordinary shares held as at 30 September 2019. The Rights Issue was 100% subscribed.

With this listing of the additional 15,961,574,145 ordinary shares, the total issued and fully paid up shares of UACN Property Development Company Plc has now increased from 2,598,395,791 to 18,559,969,936 ordinary shares of 50 kobo each.

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