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UNION BANK PLC (UBN) RIGHTS ISSUE – Offer last till 30th October, 2017

26
Sep

 

Please be informed that Union Bank Plc’s (UBN) Rights Issue, opened on 20th September, 2017, and will close on Monday, 30th October 2017. The Rights Issue is being undertaken to enable UBN use : 80% of proceeds as working capital,12% of proceeds, to be invested in technology, innovation and digitization and 8% of proceeds, to be invested in customer touch points.

Details of the Rights:
Being Issued –                       12,133,646,995 Ordinary Shares of 50 kobo each
Rights Price –                         N4.10 per share
Gross Issue Proceeds –       N50, 000,000,000
Provisional Allotment –         5 new Ordinary Shares for every 7 Ordinary Shares of 50 kobo each held as at the close of business on 21 August, 2017

kindly note that;
(1)    the Rights is offered at 28.32% discount to the stock’s current market price of N5.72,
(2)    At current price, the theoretical value of the stock after the Rights is estimated at N5.04.

Shareholders who do not wish to take up their Rights should take a cue from the wide upside potential in trading their Rights to interested investors.

How to Participate in the Rights:

(1)    For existing qualified shareholders
– Complete the rights issue form indicating full acceptance, partial acceptance or requesting additional rights
– Make payment for the total rights taken (either cheque or bank transfer) either directly to the Registrars or preferably through us, your stockbroker
– Submit the completed the rights issue form and all evidence(s) of payments to the receiving agent (us) for onward submission

(2)    For potential investors
– Complete share transfer form
– Make payments for agreed traded rights
– Submit transfer form and evidence of payment to receiving agents

Download the Application/Renunciation forms via here

For more enquiries, please contact us on Tel: +23414539639, (0) 803 374 0045, (0) 703 447 5033 (0) 701 225 8148.Email: research@globalviewng.com

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