A consideration of a proposed Merger & Acquisition is on the Agenda of the upcoming meeting of the Board of Directors of Learn Africa Plc (NGX: LEARNAFRCA).
This is contained in a notice of the Board of Director’s meeting published on the Nigerian Exchange Limited and signed by DCSL Corporate Services Ltd, the Company Secretaries.
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According to the notification, the Board of Directors of Learn Africa Plc will meet via Zoom Teleconference on Tuesday, 8th March 2022 at 10.00am to transact the following business among others;
- To consider and approve the issuance of Rights of Shares.
- To consider and approve the appointment of Financial and Legal Advisers to the Rights Issue.
- To consider matters regarding a proposed Merger & Acquisition.
- To consider the proposed increase in Retainership Fees for the Company Secretaries.
- To consider and approve the 2022/2023 Board Meeting Calendar.
- To consider any other business; and
- Closing
In compliance with the provisions of Rule 17.18(a): Closed Period, Rulebook of the Exchange, 2015 (Issuers’ Rule) the Company will commence a Closed Period from Tuesday, 22 February 2022 until twenty-four hours after the release of the decisions taken at the Board Meeting.
During the closed period, no Director, person discharging managerial responsibilities, employees and advisers of the Company or persons closely related to them may directly or indirectly deal in the shares of the Company.
About the Company
Learn Africa Plc is a leading learning resource business in Nigeria, with a history spanning over 50 years. The company was established in 1961 as Longman Nigeria – a book publishing firm wholly owned by Longman Group UK Limited, now Pearson Education.
On July 23, 1996, the shares of Longman Nigeria Plc were listed on the Nigerian Stock Exchange. In 2008, the company became a subsidiary of Pearson Plc following the latter’s increase in its shareholding from 29 to 51 percent.
In 2011, however, Pearson and Longman Nigeria mutually agreed to become separate corporate entities in Nigeria. The main business of Learn Africa Plc is the publication and marketing of textbooks for the entire gamut of the educational system – nursery, primary, secondary and tertiary.
The registered office is located at 52, Oba Akran Avenue, Ikeja, Lagos in Nigeria.
Learn Africa has 771,450,000 Outstanding shares and a market capitalization of N1.86 billion.
Emerging from the disruptions of the Covid-19, LEARNAFRCA reported a N161.08 million Profit after tax for the year ended 31 March 2021 (31 March 2021: N79.99 million).
The share price of the company closed today at N2.42 as it achieved its maximum possible gain on the day. The Share price has risen 165.93% from its 52 week low price of N0.91.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
