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[XNSA]>> EXTENSION FOR TRADING IN RIGHTS ISSUE
(Source: NSE, Date: 16-Dec-2025)
  

MARKET BULLETIN


16 December 2025						                      NGXREG/IRD/MB101/25/12/16



The Initiates Plc: Extension for Trading in Rights Issue

We refer to our market bulletin of 01 August 2025 with reference number: NGXREG/IRD/MB56/25/08/01 wherein the market was notified that trading in The Initiates Plc?s Rights Issue of 177,996,310 ordinary shares of 50 Kobo each at N7.00 per share on the basis of one (1) new ordinary share for every existing five (5) ordinary shares held as at the close of business on Friday, 01 August 2025 opened on Wednesday, 5 November 2025.

Trading Licence Holders are hereby notified that The Initiates Plc (the Company) has obtained the approval of the Securities and Exchange Commission (SEC) to extend the period of the Rights Issue.

Consequently, trading in the Company?s Rights will now close on Monday, 12 January 2026. 

Below are details of the Rights:
Issuer	The Initiates Plc
Name	THE INITIATES PLC 2025 RIGHTS
Quantum offered	177,996,310 ordinary shares of 50 Kobo
Rights Issue Price	N7.00
Symbol Code	RR25TIP
ISIN	NGRR25TIP009
Ratio	one (1) new share for every five (5) ordinary shares held
Opening date	05 November 2025
Initial closing date	12 December 2025
New Closing Date	12 January 2026
Registrar	Apel Capital Registrar Limited

This is for your information please.
 
Godstime Iwenekhai
Head, Issuer Regulation Department
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