The Custodian Investment Plc has signed a binding agreement with UAC of Nigeria Plc to purchase 51 per cent equity interest in UACN Property Development Company (UPDC) Plc. Oshin said the company had signed a binding agreement with UAC for Custodian to purchase a 51-per cent equity interest in UPDC from UAC. He said the agreement marked the beginning of a partnership between Custodian and UAC that would achieve both companies’ respective objectives in the real estate industry. Oshin said a total of 9,465,584,668 UPDC Ordinary shares (Sale Shares) held by UAC, representing 51 per cent of UPDC’s issued share capital, would be sold to Custodian. ALSO READ: Buhari mourns as leader of Tijjaniyya Islamic movement in Africa diesOshin, however, advised the shareholders to exercise caution when dealing in the securities of Custodian, UAC, and UPDC until requisite approvals are obtained.

Source: Nigerian Tribune August 03, 2020 19:41 UTC