Thank you sir.
In a regulatory filing at the weekend, UACN indicated that it will be launching a mandatory takeover of up to two million ordinary shares of 50 Kobo each in PPPN at N4.47 Kobo per share. The takeover price represents a premium of 224 per cent on PPPN’s market price of N1.38 at the Nigerian Stock Exchange (NSE).
The qualification date for the transaction is Wednesday November 16, 2016, the date qualifying shareholders of PPPN will be determined.
This is how a an acquisition of a quoted company should be done. Thank you UAC for doing things right !
Every shareholder of record as at a stated FUTURE date gets to buy or sell at a Given price.
Compare the Tyranny of the majority that royally ate minority shareholders in similar deals (as on this forum) at :
a) Great Nigeria Insurance Plc (Wema Bank)
b) Law Union and Rock Plc
c) Mobil Oil (NIPCO)