C & I Leasing Plc has put forward a proposal for a bonus issue, suggesting the issuance of two (2) ordinary shares for every three (3) ordinary shares held, with the entitlement credited to shareholders listed in the Register of Members by the close of business on Thursday, 4 January 2024.
This announcement, detailed in the company’s notice to the Nigerian Exchange Limited (NGX) and the investment community, was retrieved from Infostride News.
In adherence to the proposed bonus issue, the register of shareholders is scheduled to be closed from Friday, 5 January 2024, with the qualification date set for Thursday, 4 January 2024. Mbanugo Udenze & Co., the Company Secretary, emphasized that shareholders yet to complete the e-dividend registration process should promptly download the Registrar’s E-Dividend Mandate Activation Form, conveniently accessible on the Registrars’ website.
C & I Leasing Plc also disclosed its financial results for the third quarter and the nine months ending on September 30, 2023. The report indicated sales of N13,554.59 million for the nine months, marking an increase from N12,098.78 million recorded in the corresponding period the previous year. Net income for this period amounted to N327.6 million, showing growth compared to N313.86 million reported a year ago.
In a noteworthy move last year, FMDQ Exchange granted approval for the registration of C & I Leasing Plc’s N50.00 billion Commercial Paper (CP) Programme on its platform. This development was made public through Infostride News.
C & I Leasing PLC, functioning as a diversified leasing and business service conglomerate, plays a crucial role in providing support services to both indigenous and multinational organizations in West Africa. The company’s services span three primary areas: Fleet Management, Personnel Outsourcing, and Marine Service.
The registration of the CP Programme, spearheaded by Cordros Capital Limited as the Lead Sponsor, and Kairos Capital Limited, both registration members (Quotations) of the Exchange, strategically positions the Issuer to raise short-term finance from the Nigerian debt markets. This can be achieved at opportune times during the CP Programme validity through CP issuances, all within the established CP Programme limit.
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