Shareholders approve new capital raising for Custodian Investment

Written by on April 11, 2022

Shareholders of Custodian Investment Plc have authorised the board of the company to raise additional capital as part of its strategic growth.

At the annual general meeting in Lagos at the weekend, shareholders approved resolutions empowering directors of the company to raise new capital through any of the multiple options available to the company.

According to the resolutions, the company can issue debt instruments, preference shares or ordinary shares, or a combination of any of these options whether by way of private placement, rights issue, offer for subscription or any staff share scheme.

Shareholders also authorised the board to take steps to comply with Section 124 of the Companies and Allied Matters Act (CAMA) 2020 and Regulation 13 of the Companies Regulations 2021 relating to unissued shares of the company.

Addressing the shareholders, the Chairman, Custodian Investment Plc, Dr. Omobola Johnson, said  despite economic conditions that characterised the 2021 financial year, the company successfully grew its revenue by 14 per cent for the year ended December 31, 2021.

She stated that the gross revenue grew from N75.06 billion in 2020 to N85.74 billion in 2021.

According to her, the total asset base of the company rose to N184.47 billion during the year under review, indicating a five percent increase from the previous year.

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