UBA’s Capital Restructuring Exercise Schedule Released

Details pertinent to the schedule of the UBA capital restructuring exercise have surfaced.

Shareholders should note that the shares of UBA will be placed ontechnical suspension on January 12, 2012.

The new holding company will be listed on the 16th of January 2012, in addition to the registrars business.

01.12.11               Publish Notice of Court-Ordered Meeting in national newspapers

28.12.11               Last date for lodging proxy forms for Court-Ordered Meeting

29.12.11               Court-Ordered Meeting for the shareholders of UBA Plc

30.12.11               File returns of Court-Ordered Meeting with Corporate Affairs Commission

03.01.12               File returns of Court-Ordered Meeting with Securities & Exchange Commission’s for final Approval

04.01.12               Obtain  final Approval from Securities & Exchange Commission

04.01.12               Receive Securities & Exchange Commission’s approval letter registering the new UBA Holdings Plc and Africa Prudential Registrars Plc shares

05.01.12               File petition for Order sanctioning the Scheme of Arrangement

06.01.12               Obtain Court Order sanctioning the Scheme of Arrangement

09.01.12               Register Certified True Copy of Court-Order Sanctioning the Scheme of Arrangement with CAC

12.01.12               UBA Plc shares placed on full suspension on the Nigerian Stock Exchange

13.01.12               File Certified True Copy of Court Sanction with Securities & Exchange Commission/Nigerian Stock Exchange

13.01.12               Publish copy of Court Sanction in two national newspapers/Gazette

16.01.12               Dispatch UBA Plc, UBA Holdings Plc, Africa Prudential Registrars Plc  and Afriland Properties Plc share certificates/Credit CSCS accounts of the holders of the Scheme shares

16.01.12               List UBA Holdings Plc and Africa Prudential Registrars Plc

Post transaction    Effect and Perfect Asset Transfers