January 19, 2018/ARM

Details of Rights

• Issued Shares  – 1,476,142,418.00 Ordinary shares of 50 kobo each
• Rights Price – N27.00 per share
• Provisional Allotment – 9 new ordinary Share for every 16 ordinary Shares of 50 kobo each held as at the close of business on 8^th of  December 2017
• Right opens on the 15^th of January 2018 and closes on the 21st of February 2018

Key Pointers

1. The right is offered at a 9% discount (Right Price of N27.00) to stocks current price of N30.00
2. The right issue is available to existing shareholders on the basis of 9 new shares for every 16 shares held at close of business 8^th of  December 2017.
3. If you are not willing to take up your rights you can sell.
4. The Flour Mills right is currently trading at N0.51 on the Exchange and you are able to buy additional rights.