UAC of Nigeria Plc has notified The Nigerian Stock Exchange that the Company is proposing to raise capital for its business expansion and further development of the Company and its subsidiaries. UACN states that it is presently considering certain proposals and options which will be subject to agreeing substantive terms and shareholders’ approval.

According to the Company, its Board of Directors is also proposing to raise capital through a Rights Issue. The proposed capital raising will be presented to the shareholders for approval at the next Annual General Meeting of the Company.