LAGOS – Lafarge Africa Plc has announced the commencement of the tender offer for Ashaka Cement Plc. It opened Wednesday, May 11 and will close on Friday, June 10.
According to the terms of the offer, the exchange ratio will be 202 ordinary shares of Ashaka Cement Plc for 57 ordinary shares in Lafarge Africa Plc i.e. 1 unit of Lafarge Africa Plc for every 3.54 units of Ashaka Cement Plc held.
According to a letter sent to the Nigerian Stock Exchange, shareholders will receive N2.00 for every unit of Ashaka Cement Plc that is tendered.