November 14, 2016/NSE

Stanbic IBTC Stockbrokers hereby on behalf of UAC of Nigeria Plc (“UACN”) notify Dealing Members of the Mandatory Take-Over bid of up to 2,000,000 ordinary shares of 50 Kobo each in Portland Paints and Products Nigeria Plc (“Portland Paints” or the “Company”) at N4.47 per share (the “Transaction”)

The Qualification date for the Transaction is Wednesday, 16 November 2016 which is the date Qualifying shareholders of Portland Paints will be determined.

Please note that the Qualifying Shareholders are the shareholders of Portland Paints other than UACN whose names appear in the register of members of Portland Paints as at the Qualification Date and who are eligible to receive the Take-Over Bid document.