Nov 16 (Lagos) - T
he Rights Issue of UAC of Nigeria Plc ( UACN ) of 960,432,193 ordinary shares of 50 Kobo each at the offer price of N16 per share on the basis of one (1) new ordinary shares for every two (2) ordinary shares held as at 19 October 2017 opened for subscription as shown below:
Acceptance list opens: Wednesday, 15 November 2017
Acceptance list closes: Friday, 22 December 2017
UACN shares hit a 8 year low of below N 12 per unit on Feb 23 2017 and since then the shares have clawed back above to current levels of N 18.99 per unit.
UACN has popular brands in its kitty such as Gala sausage roll but company faces competition from Companies like
AGLEVENT who have introduced similar sausage rolls.
These shares used to trade above N 70 per unit back in 2013 but once the fall started, it only kept getting worse for its shareholders and they really should take a look at the management for their poor performance over the past few years not only in stock market but also in real markets on the ground.
reporting for easykobo.com on Thursday, Nov 16 2017 from Lagos, Nigeria