…to close operation of Epic International in UAE, raise N15bn equity, debt capital
Shareholders of C&I Leasing Plc at the company’s 34th Annual General Meeting held virtually on September 8 authorised the directors to invest in Leasafric Logistics Limited and purchase a direct ownership of 71.15 percent (representing 711,500 units of ordinary shares) of the shares in Leasafric Logistics Limited.
The investment in Leasafric Logistics Limited, according to the company will be funded from C&I Leasing Plc portion of the dividend declared by Leasafric Ghana Plc for the financial year ended 2023.
At the meeting, the Board of Directors were authorised by shareholders to consolidate all finance lease operations and financial services activities of the Company into C & I Finance Company Limited.
Also, the shareholders also authorised the Board of Directors to take all necessary actions to close the operations of Epic International FZE in the United Arab Emirates (UAE) and to redomicile the Company to any other jurisdiction.
In a related disclosure, the Board of Directors of C & I Leasing were also authorised by shareholders to take all necessary actions to raise N15 billion in corporate bond for business expansion and debt refinancing. The shareholders also authorised that the Board of Directors should take all necessary actions to raise N15 billion in equity for business expansion and debt refinancing.
The consolidated and separate statements of cash flows for C&I Leasing Plc for the period ended June 30, 2025 shows that the group reported profit after tax (PAT) of N1.082billion in H1’2025 as against N986.95million profit in H1’24.
on September 8, C& I Leasing paid a final dividend of 10kobo, subject to appropriate withholding tax. The dividend was paid to shareholders whose names appeared in the Register of Members as at the close of business on August 5. The share price at N6.5 per share remains below its 52-week high of N9.64 but above its 52-week low of N3.16.