Business Vitafoam shareholders inject funds into business

jeff juwana

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During the Extra Ordinary General Meeting Of Vitafoam, the Shareholders of the Company approved the raising the sum of N4 billion Naira to enhance its operations. They said the sum can be raised by issuing securities such as equities or debt via public offering, rights issue, debenture, special placing and other options or combination of any of these methods and offering same for sale on such terms and conditions as the directors may deem fit in the interest of the company subject to the approval of the relevant regulatory authorities.
The Shareholders also approved that the directors be authorised to enter into and execute that the directors be further authorised to enter into and execute any agreements, deeds, instruments, notices, appointment of professionals parties.
Me Joel Ajiga who spoke to the Press said , Vitafoam, Mr. Joel Ajiga, who spoke to newsmen said, he is delighted that the shareholders gave their approval for the company to raise additional fund. They understand the potentials inherent in the company and ripple effect it will have in the future.
The Chairman of Vitafoam, Dr. Bamidele Makanjuola, assured shareholders at the EGM that the company will strive to improve on its dividend payment. According to him,
 
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