By Chinwendu Obienyi
The Board of Directors of Neimeth Pharmaceuticals has disclosed that the company is set to raise N5 billion in additional equity upon approval by shareholders of the company.
This information was made public knowledge in a notification issued by the Company Secretary, Mrs. Florence Onyenekwe, and published on the website of the Nigerian Stock Exchange (NSE).
The disclosure is part of the resolutions reached at its Board of Directors meeting of January 15, 2021. The notification stated that at the end of the meeting, it was resolved that the company would raise additional equity to the tune of N5 billion.
In line with this development, a board resolution proposing to raise equity will be presented at the Annual General Meeting of the Company scheduled to hold on 9th March 2021.
According to analysts, the fund will help the company’s management to execute key strategies that will reposition the company as a leader in the healthcare industry, with the hope to deliver better returns on investment to shareholders.