September 27, 2017 / 5:24 PM / a year ago

BRIEF-Lafarge Africa lays out terms of proposed rights issue

Sept 27 (Reuters) - LAFARGE AFRICA PLC:

* BOARD OF CO TOOK DECISION ON SEPT 26 IN RESPECT OF PROPOSED RIGHTS ISSUE‍​

* BOARD OF DIRECTORS HAVE APPROVED THE TERMS OF RIGHTS ISSUE

* WILL RAISE 131.65 BILLION NAIRA BY WAY OF RIGHTS ISSUE AT 42.50 NAIRA PER SHARE BY ISSUING 5 NEW SHARES FOR EVERY 9 SHARES HELD BY INVESTORS

* RIGHTS PRICE REPRESENTS ABOUT 17.44 PERCENT DISCOUNT ON LAFARGE AFRICA’S CLOSING PRICE AT SEPT 22

* REGULATORY APPROVAL PROCESS IS ON-GOING Link to press release: bit.ly/2ytgwhQ Further company coverage:

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