AGM Watch: Vitafoam Shareholders Approve N4Billion Capital Raising Exercise

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Vitafoam Plc released a statement stating that its shareholders passed a resolution in line with the company’s Articles of Association that the directors were authorised to raise up to N4bn by issuing securities such as equities or debt by way of public offer, rights issue, debentures, special placing and other options or combination of any of the methods.

They also authorised the directors to make supplementary allotment of the securities issued in the event of an over-subscription. They were also asked to enter into and execute any agreements, deeds, instruments, notices and other documents in connection to the offer.