Fidson Healthcare Plc revises terms of Rights Issue

Fidson Healthcare Plc has secured the approval of the Securities and Exchange Commission (SEC) to issue a revised rights circular with respect to its rights issue.

The Nigerian Stock Exchange (NSE) disclosed this in a circular to dealing members on Wednesday, January 30, 2019.

The revised terms of the Rights Issue as stated in the SEC approved Rights Circular are now Seven Hundred and Fifty Million (750,000,000) ordinary shares of Fifty Kobo (N0.50) each at Four Naira (N4.00) per share on the basis of one (1) new ordinary share for every two (2) ordinary shares held as at 28 December 2018, according to the circular.

The initial terms of the Rights Issue were Nine Hundred Million (900,000,000) ordinary shares of Fifty Kobo (N0.50) each at Five Naira (N5.00) per share, on the basis of three (3) new ordinary shares for every five (5) ordinary shares held as at the close of business on Thursday, 5 July 2018.

 NSE’s statement read: “Further to the Market Bulletin with Reference Number: NSE/RD/LRD/MB2/18/07/05, dated 5 July 2018 on the above subject matter, Dealing Members are hereby notified that Fidson Healthcare Plc (the Company) has obtained the approval of the Securities and Exchange Commission (SEC) to issue a revised Rights Circular with respect to its Rights Issue.

Kindly recall that the initial terms of the Rights Issue were Nine Hundred Million (900,000,000) ordinary shares of Fifty Kobo (N0.50) each at Five Naira (N5.00) per share, on the basis of three (3) new ordinary shares for every five (5) ordinary shares held as at the close of business on Thursday, 5 July 2018.

The revised terms of the Rights Issue as stated in the SEC approved Rights Circular are now Seven Hundred and Fifty Million (750,000,000) ordinary shares of Fifty Kobo (N0.50) each at Four Naira (N4.00) per share on the basis of one (1) new ordinary share for every two (2) ordinary shares held as at 28 December 2018.”