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Showing posts from November, 2017

Lafarge Africa Rights Issue Facts

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Lafarge Africa Opened its Rights Issue on 25th November 2017 which will run through 15th December 2017. Lafarge Africa Plc Rights Issue of 3,097,653,023 Ordinary Shares of 50kobo Each at ₦42.50 Per Share Issue Price N42.50 Opening Date: 25 th November 2017 Closing Date 15 th December 2017 Underwriting status: Nil Purpose of the Issue: The Rights Issue is being undertaken to enable Lafarge Africa Plc optimise its capital structure by deleveraging its balance sheet, thereby reducing costs. Use of Proceeds: Net Issue proceeds estimated at N130,298,062,609 will be applied towards the repayment of the Company’s various outstanding loan obligations. Finance Working Capital Expansion of Operation The fund would be applied as follows assuming full subscription: 71.35% for the payment of loan 13.80% to support Working Capital 13.80% for Expansion of Operations Benefit to Shareholders. The Rights is currently being offered at a discount

FCMB GROUP Long Awaited Result

9 Months Report FCMB GROUP PLC 2017 N'000 2016 N'000 change Year End Revenue 118,816,100 140,727,162 -16% December Profit/Loss before taxation 6,841,428 14,175,548 -52% Profit/Loss for the period 5,468,945 12,981,132 -58% Issued Shares (Units) 19,802,710,754  19,802,710,754  Basic Earnings Per Shares (Kobo) 28.00 66.00 -58% Last total dividend paid (Kobo) A closer look at the result shows that the company had a modest performance for the year in focus. Looking at it vis-vis last year performance would send a wrong signal because of the other income of #33.5billion that came in 2016 compare to the #5.1billion of the current year. This is a decline of 84.78% year on year. Let us take our mind of the event of last year as it is not consistent with the operation of the Company. An x-ray of the first Nine months performance shows that in Q3 alone, the company made #2.4billion out of the #5.4billion made so far this year. This represent 44.44%