Learn Africa Plc has created an additional 96,431,250 ordinary shares at N0.50k each to increase its share capital to N867.88m from N771.45m.
That was a fallout of the firm’s recent board of directors meeting.
The development was disclosed in a document filed with the Nigerian Exchange Limited on Friday.
“The increase in the share capital of the company from 771,450,000.00 to 867,881,250 by the creation of 96,431,250 units of Ordinary Shares of N0.50k at N0.50k per share,” it stated.
To reflect this change, Clause 6 of the company’s Memorandum of Association has been amended.
The updated clause states, “The share capital of the company is N433,940,625 divided into 867,881,250 ordinary shares of N0.50k each.”
According to the firm, the adjustment ensures the company’s legal framework aligns with the new share capital structure.
It added that the strategic decision not only rewarded current shareholders but also aimed to enhance investor confidence and support the company’s long-term growth objectives.