All retail investors ‘will get their MTN shares’ on Feb 18

All 126,720 retail investors who bought from the December 2021 public offer of MTN shares will get their share on February 18, 2021, TheCable has learnt.

In December 2021, MTN had promised one free share for every 20 shares bought — with maximum free shares of 250 per investor.

The company has disclosed that those free shares will not be allotted to investors until January 31, 2023 — after one year of holding, as said in the terms of the public offer.

“The promotional offer ‘1 free share for every 20 purchased’ (subject to a maximum of 250 shares) will be allotted to investors who hold their shares for 12 months till January 31, 2023,” PrimaryOffer said in a mail to investors.

TheCable also learnt that those who bought the MTN shares in December are also eligible to dividends for the 2021 fiscal year.

“MTN Nigeria announced its Audited Financial Results for the year ended December 31, 2021, and proposed a final dividend of ₦8.57k per share. All shares allotted under the Offer for Sale are eligible for the proposed dividend which will be paid on April 28, 2022.”

Therefore, for every share bought in December, N8.57k will be paid as dividend in April 2022.