The Initiates Plc announces extension of Rights Issue exercise to January 12

The Initiates Plc has obtained the approval of the Securities and Exchange Commission (SEC) to extend the period of the Rights Issue. Consequently, trading in the Company’s Rights will now close on Monday, 12 January 2026.

The Initiates Plc 2025 Rights Quantum offered 177,996,310 ordinary shares of 50 Kobo Rights Issue at the price of N7.00 on the basis of one (1) new share for every five (5) ordinary shares held.

The opening date was 5 November 2025. The initial closing date wasc12 December 2025. The new closing date is now 12 January 2026. The Registrar of the Company is Apel Capital Registrar Limited.