In a notice to the the Nigeria Stock Exchange (NSE), the Tier-One lender announced the crossing of 2,080,104,955 units of its ordinary shares from the Staff Share Investment Trust Scheme (SSITS) to the Bank.
“This transfer of shares from SSIT to the Bank is part of the process of executing the Special Resolution of the Shareholders at the Annual General Meeting held on Friday, April 08, 2016, to cancel the shares held under the SSIT. Following this transfer, the Bank will complete all relevant processes to effect the cancellation of these shares,” UBA said in the statement.
Upon cancellation of the 2,080,104,955 units of ordinary shares, the outstanding shares of UBA Plc will be reduced by the amount accordingly.
With a closing price of N8.80 per share on Tuesday on the Nigerian Bourse, the shares are worth N18.3 billion.
UBA currently has 36.28 billion shares outstanding. The lender’s stock has gained 95 percent year to date.
National Chairman of the All Progressives Congress (APC), Dr Abdullahi Umar Ganduje, has assured Nigerians…
An Akure Magistrate’s Court sitting in Akure, the Ondo state capital, has ordered the remand…
President Bola Tinubu has welcomed new investment initiatives from the Qatari government, particularly in Nigeria’s…
These include Alaska, Arkansas, California...
The Supreme Court on Friday, ordered that Lagos socialite, Fred Ajudua, should be returned to…
The Attorney General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi (SAN),…
This website uses cookies.