By InvestAdvocate

Lagos (INVESTADVOCATE)-UAC of Nigeria Plc (UACN) has notified the Nigerian Stock Exchange (NSE) that its proposing to raise capital for its business expansion and further development of the company and its subsidiaries. UACN states that it is presently considering certain proposals and options which will be subject to agreeing substantive terms and shareholders’ approval.

According to the firm, its board of directors is also proposing to raise capital through a Rights Issue. The proposed capital raising will be presented to the shareholders for approval at the next Annual General Meeting (AGM).

UACN therefore advises shareholders to exercise caution when dealing in the company’s shares until a further announcement is made.