SEC approves McNichols consolidated’s 531.24m rights issue

McNichols Consolidated Plc is pleased to notify that the Company has obtained an approval from the Securities and Exchange Commission (SEC) to conduct the signing ceremony with regards to the proposed Rights Issue of $31,242,609 (Five Hundred and Thirty One Million, Two Hundred and Forty Two Thousand, Six Hundred and Nine) ordinary shares of fifty kobo (NO.S0) each at 50 kobo (NO.50) per share, on the basis of seventeen (17) ordinary shares for every twenty three (23) ordinary shares held. The qualification date for the Rights Issue Is 16″ of September, 2022.

Subject to the approval of the executed offer documents by the SEC, the application list is expected to open on the 9″ of August, 2023 or any other date approved by the Commission and shall be open up to August 31, 2023 or any other date approved by the Commission.

Rights circular will be distributed to shareholders while application forms would also be made available on the website of the Company’s Registrars for ease of access.

Esteemed shareholders are advised to contact their stockbrokers and other financial advisers for more details of the offer.