MTN Nigeria awards over 3.9 million incentive shares to 120,359 shareholders — The allotment was confirmed in a corporate notice signed by the Company Secretary on Wednesday.

MTN Nigeria awards over 3.9 million incentive shares to 120,359 shareholders

Telecommunications giant, MTN Nigeria, has successfully granted over 3.9 million incentive shares to a total of 120,359 eligible shareholders.

The allotment was confirmed in a corporate notice signed by Ufo Ukpanat, the Company Secretary on Wednesday. The offer was initiated in December 2021 and became effective on January 31, 2023, after the Securities & Exchange Commission cleared the allotment.

The incentive offer provided an additional ordinary share for every 20 ordinary shares purchased by eligible shareholders. The shareholders who qualified for this incentive were those who had purchased and were allotted a minimum of 20 ordinary shares in the offer.

Additionally, these shareholders were required to hold some or all of the shares allotted as of January 31, 2023, and their names must have appeared in the register of members at the qualification date.

A total of 120,359 investors, which represent 94.77% of all participants in the offer, have qualified for the incentive shares, which amount to 3,977,418 ordinary shares of MTN Nigeria.