Neimeth shareholders approve additional N30 billion capital raise at AGM

▤ Summary

Neimeth shareholders approved an additional N30 billion capital raise at the company’s AGM, bringing the total fundraising mandate to N50 billion. The board can use equity, debt, hybrid securities, or a mix of issuance structures, and any public offer or rights issue must be underwritten on standby. The company says the capital will support a new manufacturing plant in the South East and could fund expansion into new product lines. The AGM also ratified a new Executive Director for Sales & Marketing and re-elected three directors.

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