Shareholders of Custodian Investment Plc have authorised the board of directors to raise the Naira equivalent of up to $15 million (about N5.715 billion) as additional capital through a convertible loan instrument.
They also authorised the directors to convert the loan into shares at a conversion price higher than N6.00 per share or the 12-month historical daily share price of the company derived from the Daily Official List of the Nigerian Stock Exchange (NSE) for March 23, 2021.
The shareholders gave the approval at the 26th Annual General Meeting (AGM) of the group held on Thursday.
Chairman of the board of directors, Dr. Omobola Johnson, said despite the challenges, the profit after tax was N12.69bn as against N6.01bn achieved in 2019. The revenue grew by 22 percent to N75.06bn compared with N61.42bn in 2019.
She also said the company acquired a controlling interest in UAC Property Development Company Plc as it diversifies.
President of Nigeria Shareholders Solidarity Association, Mr Matthew Akinlade, said the performance of the company was good based on the financial indices.
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