Eternal Plc to raise N21.52bn via Rights Issue

Eterna Plc has notified shareholders and the Nigerian Exchange that the Company has obtained the approval of the Securities and Exchange Commission to commence its Rights Issue of 978,108,485 ordinary shares of ₦0.50 each at ₦22.00 per share.

The Offer is being made to existing shareholders on the basis of three (3) new ordinary shares for every four (4) ordinary shares held as at 27 November 2025. The Rights Circular will be distributed to shareholders by the Registrars to the Offer, Greenwich Registrars and Data Solutions Limited, and can also be accessed on the Company’s website at: https://eternaplc.com/eterna-plc-rights-circular-december-2-2025/

The Offer opens today, Monday, 12 January 2026, and closes on Wednesday, 18 February 2026. The Rights being offered are tradable on the floor of NGX for the duration of the Acceptance Period.

Shareholders are encouraged to participate through the NGX Invest platform, which can be accessed at https://invest.ngxgroup.com. Shareholders may also participate in the Rights Issue by completing the paper Participation Form. Completed Participation Forms, together with payment or evidence of payment for the full amount payable, should be submitted no later than Wednesday, 18 February 2026, to any of the Issuing Houses or Receiving Agents listed in the Rights Circular.

The Rights Issue provides existing shareholders with the opportunity to increase their equity holdings in the Company, thereby reinforcing their participation in and support for Eterna’s long-term growth strategy. The capital raised will be deployed to support several strategic initiatives, including the expansion of Eterna’s retail network, upgrading of its lubricant blending plant, enhancement of LPG retail assets, acquisition of commercial delivery assets, expansion of aviation fueling operations, and investments in ESG-related projects aligned with the Company’s sustainability objectives.