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GSE Trading Results

ETI Shareholders Approve Share Split
SAS Research+ | Industry Report

Shareholders of Ecobank Transnational Incorporated (ETI) approved a share split at an Extraordinary General Meeting. The nominal value of the ordinary shares of the company will thus be reduced from $0.25 per share to $0.125 cents per share by splitting each ordinary share into two equal parts.

Consequently, all share certificates held will be replaced with new ones reflecting the split. Shareholders also approved the increase in issued share capital of the company by not more than $300 million by the issue(s) of such number ordinary shares at a price to be determined by the directors at the time of issue through an offer to the general public. The directors are thereby authorised to determine modalities and duration of a rights issue, the duration of the offer, basis of allotment and the use of funds from the issue.

Source: SAS

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