UNITED BANK FOR AFRICA PLC – Capital Raising of $500M Eurobond
United Bank for Africa Plc. has announced the successful raising of $500 million via the issuance of a 5-year senior unsecured benchmark bond listed on the Irish Stock Exchange. The bond issuance was 240% over-subscribed. The bond, rated B, Stable Outlook by both Fitch and Standard & Poor’s, was issued at a coupon rate of 7.75% and will mature in June 2022.
MUTUAL BENEFITS ASSURANCE PLC
Financial Result for the 3 Months Ended 31st March, 2017
Gross Premium Written: 14% increase from N3.3bn to N3.7bn
Profit/(Loss) after Tax: 108% increase from N317.3m to N660m (3M 2017 EPS, 8 kobo; 3M 2016 EPS, 4 kobo)
Audited Financial Result for the Year Ended 31st December, 2016
Gross Premium Written: 17% decrease from N14.6bn to N12.1bn
Profit/(Loss) after Tax: 266% decrease from N812m to (N1.3bn) (FY 2016 EPS, -17 kobo; FY 2015 EPS, 10 kobo)
Proposed Dividend: Nil
LAFARGE AFRICA PLC – Resignation of Directors
Following the approval of an amendment to the Articles of Association of Lafarge Africa Plc. by the shareholders of the Company to reduce the size of the Board of Directors of the Company from 17 to 11, the Company has announced the voluntary resignation of Mr. Joe Hudson, Mr. Jean-Christophe Barbant, Mrs. Oludewa Edodo-Thorpe, and Mr. Thierry Metro from its Board.
OANDO PLC – Supplementary Listing of 396.8M Ordinary Shares
Subsequent to the conclusion of a debt to equity conversion exercise by Oando Plc, 396,793,587 Ordinary Shares of the Company were today listed on the Daily Official List of The Nigerian Stock Exchange. With this listing, the total Issued and Fully Paid-up shares of the Company has increased from 12,034,618,894 to 12,431,412,481.