Share Capital
Authorized: N30,000,000 made up of 30 000 000 Ordinary Shares of N1.00 each Issued and Fully Paid: N16,203,131 made up of 16,203,131 as at 31st August 2009 Ordinary shares of N1.00 each Offer to Potential Investors: 30 000 000 Ordinary Shares of N1.00 NGN

Post Placement of Share Capital
Authorized: N30,000,000 made up of 30 000 000 Ordinary Shares of N1.00 each Issued and Fully Paid: N30,000,000 made up of 30 000 000 Ordinary Shares of N1.00

Purpose
This private placement is being undertaken to:

• To meet up with the demand of thousands of active poor willing to borrow under the bank micro products and services.
  
• Improve the working capital of the Bank for better service delivery.
  
• Enhance the Management Information System of the Bank.

Offer Price
N1.20 per share

Payment
Payable in full on application in favour of Ologbon Microfinance Bank Nigeria Limited.

Summary of Offer
Projected Inflow Required: N24,000,000 (Twenty Four Million Naira Only).

Unit of Placement
A minimum of 5000 units and multiples of 1000 units thereafter.

Status of Shares
The shares being offered rank pari passu with the existing shares.

Allotment
This shall be at the discretion of the Directors based on first come first served.

Application Monies
All application monies will be retained in a seperate account by the Bank. If any application is not accepted, a crossed cheque for the full amount paid will be returned while share certificate shall be issued on allotment.

Private Placement Memorandum
Click here to download our Private Placement Memorandum

Application Form
Click here to download application form