Directors of Fidson Healthcare Plc will put before the shareholders at the annual general meeting on Thursday, July 28, 2022, a proposal for the payment of 50 kobo dividend per 50 kobo share held by shareholders as of July 8.

The dividends will be paid electronically into the bank accounts of shareholders who qualify and whose names appear on the register on July 29, as of the closure date.

In addition, the board will at the AGM propose for approval one new share for every eight held by shareholders of that date, to enable the company “comply with the provisions of Section 124 of the Companies and Allied Matters Act 2020 and Regulation 13 of the Companies Regulations 2021 with respect to the company’s unallotted shares, a bonus issue of one new ordinary share of 50 kobo for every ten ordinary shares held as at the close of business on the 8th of July 2022, and totaling 208,636,025 ordinary shares…”

Consequently, in line with Section 430(5) of CAMA 2020, the company seeks to “capitalize the sum of N104,318,012.50 out of the total balance of N4,933,932,000 only standing to the credit of share premium account be and it is hereby applied for the bonus issue.”

The directors also want the meeting to authorize the directors to allot outstanding shares after the bonus issue either “by way of Employee Shares schemes or in any manner as they may deem fit for consideration that shall be fixed by them.”