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By Goddy Egene
Custodian Investment Plc is to make a mandatory takeover offer (MTO) to minority shares of UACN Property Development Company Plc (UPDC) following the approval given by the Securities and Exchange Commission (SEC) dated May 18, 2021.
In notification to the Nigerian Exchange Limited (NGX) yesterday, Custodian Investment Plc said following the approval, it had been authorised to proceed with the MTO to be made to minority shareholders of UPDC for the purchase of up to 34,415,332 ordinary shares of 50 kobo shares at 90 kobo per share.
Custodian Investment had last year completed acquisition of the 51 per cent majority equity stake in UPDC) Plc from UAC of Nigeria Plc.
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Stanbic IBTC Bank Plc has reaffirmed its commitment to the growth of Nigeria’s agriculture sector by supporting farmers and other players in the agricultural value chain.
As the demands on agribusinesses change seasonally, the financial institution provides financing solutions for agricultural enterprises to suit their requirements.
A statement explained that the needs range from availability of resources, to farming equipment, as well as enhancement of seasonal cashflow, amongst others.
Stanbic IBTC Bank offers various low-interest credit facilities across the agricultural sector that will help clients to cushion the impacts of the Covid-19 pandemic
Speaking on this, Head, Agribusiness, Stanbic IBTC Bank, Wole Oshin, said the agribusiness financial solution was geared towards ensuring that players in the agriculture space are not hindered by lack of finance.