Corporate Actions: New signings and a capital raise

Corporate Actions: New signings and a capital raise

Corporate actions are decisions taken by companies’ boards of directors or management teams, that could have an impact on the firms themselves or shareholders.

Examples of corporate actions include the payment of dividends, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates.

Here is a review of corporate actions that took place last week and those expected to take place this week. A N5 billion capital raise in view

Ellah Lakes Plc, last week released details of its Annual General Meeting (AGM) which will hold on Thursday, September 27, 2018. Key on the agenda is a plan by the directors to obtain shareholders’ approval for a N5 billion private placement .

The company has struggled over the years and has had to shut down its plantation over militant activities. Julius Berger expands

Last week, Julius Berger Plc sent a notice to the Nigerian Stock Exchange (NSE) pertaining to a planned change in its organisational structure. The company had some time last year hinted at commencing operations in the oil and gas sector. It has subsequently begun a closed period during which parties with access to sensitive information cannot trade their shares. Briscoe swimming in losses

After a long delay, RT Briscoe released its results for the 12 months ended December 2017 and the first and second quarters of 2018. The company remains mired in losses. AGMs held

AG Leventis and Global Spectrum Services Plc held their Annual General Meetings (AGMs) on the 12 th of September, 2018.

Tripple Gee and Company Plc held its Annual General Meeting on the 13th of September, 2018.

The companies are yet to release resolutions decided at the AGMs. Greif Nigeria Plc MD retires

Greif Nigeria Plc announced the retirement of its Managing Director, Mr. Olukunle A. Obadina with effect from 31st October 2018. He will, however, remain on the company’s board as Non-Executive Director. The change comes as the company embarks on turn-around efforts. Notore Chemical Industries Plc Notore Chemical Industries has appointed Ohis Ohiwerei as Group Deputy Managing Director (DMD) and Chief Financial Officer (CFO) . Courteville Business Solutions Plc Courteville Business Solutions Plc made several board appointments last week. Afam Edozie was appointed Chairman, while Olufemi Adekoya and Iruna Ejibe were appointed independent Executive Directors. Corporate Actions taking place this week Honeywell Flour Mills and Premier Paints Plc will be holding their […]

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