The board of directors of UAC of Nigeria Plc has announced that a binding agreement has been signed with Custodian Investment Plc for Custodian to purchase a 51 per cent equity interest in UACN Property Development Company Plc.
The agreement, according to the statement obtained from the Nigerian Stock Exchange, marks the beginning of a partnership between Custodian and UAC that will achieve both companies’ respective objectives in the real estate industry.
UPDC & UAC Joint Investor Call Presentation & Recording
UAC of Nigeria PLC (“UAC” or “Holdco”) is a holding company that owns businesses with some of Nigeria’s strongest brands and widest distribution
UPDC Rights Issue
The Boards of Directors of UAC of Nigeria Plc (“UAC”) and UACN Property Development Company Plc (“UPDC” or the “Company”) (collectively the “Boards”, individually the “Board”) wish to inform The Nigerian Stock Exchange (“The Exchange” or “The NSE”), their shareholders and stakeholders that they are considering strategic initiatives involving a recapitalization and restructuring of UPDC.
These initiatives are still subject to the review and approval of the Securities and Exchange Commission (the “SEC”), and The NSE (collectively the “Regulators”) and shareholders of both companies.
