Omatek Ventures to source capital via allotment of 4.058bn ordinary shares

Adebayo Obajemu

Omatek Ventures Plc at its recent Annual General Meeting got approval to raise capital by allotting the unissued 4, 058, 210, 528 Ordinary Shares.

According to a notice available on the website of the Nigerian Exchange, the directors have been authorized to raise capital.

This will be done by allotting the unissued 4, 058, 210, 528 Ordinary Shares through such methods as the Directors may deem fit, whether by way of Rights Issue, Public Offer, Private Placement, Issuance of other Capital or Money Market Instruments, conversion of Debt to Equity, Book Build and/or other Securities at such time, such consideration and upon such terms and conditions as the Directors may deem fit, for the purpose of strengthening the capital base of the Company.