APR Concludes One Billion Rights Offer

APR Concludes One Billion Rights Offer
January 16, 2014 Lanre

Africa Prudential Registrars Plc (APR Plc) has successfully concluded its one billion right offer.

The offer which opened on Tuesday, October 8, 2013 and closed Friday, November 15, 2013 was termed successful and oversubscribed as it recorded a subscription level of 245%.

According to a record on the offer, 293,709,817 of the Rights were fully taken up, 106,597,284 was partially taken up while 404,182,715 was traded resulting to a total of 804,489,816 taken up from the provisionally allotted units of 1,000,000,000 available shares in offer.

Subsequently, a total of 195,510,184 were fully renounced and were made available for allotment to shareholders that applied for additional units.

The records also revealed that 1,974 of the 2,810 shareholders that fully accepted their shares applied for additional Rights of 1,647,059,748 out of which 195,510,184 available renounced shares were allotted leaving 1,451,549,564 shares unavailable for allotment.

Upon the approval by the Securities and Exchange Commission (SEC), the Registrars to the offer (Wema Registrars Limited) will dispatch share certificates in the name of successful allottees by registered post and applicants who have indicated their CSCS account numbers in their respective application forms will have their CSCS accounts credited with shares allotted.

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