Cutix Plc has concluded plan for the take over of Adswitch for 70k per share.
A total of 125,005,250 ordinary shares of 20 kobo each held by qualifying shareholders are to be tendered.
The opening date is July 6, and closes on August 7, 2020, while qualification date is February 28, 2020.
Shareholding Structure of Adswitch shows 125,005,250 Units of ordinary shares and below are the holding stakeholders.
Uzodike Gilbert Obiajulu: 11,077,236 units (8.86%)
R.C Onyeje & Company (Nig) Ltd: 6,521,886 units (5.22%)
Other Shareholders: 107,406,148 units) (85.92%)
Cutix is looking forwards to have all the shares tendered for at 70kobo per unit share.
This will cost on paper a total sum of N87,503,675, if all successfully tendered in theory.
Adswitch got delisted from the NSE floor on May 18, 2016 for regulatory reason.