Airtel Africa, a leading pan-African telecommunications brand has fixed a new interim dividend currency exchange rates for its shareholders.
The new interim dividend currency exchange rates are put at 1USD = 386 Naira and 1 USD = 0.7534 GBP according to its Group Company Secretary, Simon O’Hara who noted that the default currency and options on currency election are for the interim dividend and the currency exchange rate.
O’Hara in a statement added that the new interim Dividend Exchange rates will be applicable in the determination of the interim dividend payment to any shareholders that qualify for and have elected to receive the interim dividend payment in GBP or Naira.
The statement read in parts; “Arrangements for Shareholders that hold their shares on the London Stock Exchange (LSE): Shareholders that hold their shares on the London Stock Exchange may elect to receive their entire dividend payment in GBP or USD Dollar. Partial elections are not permissible.
“Holders electing to receive a dividend should specify a choice of currency by completing the Currency Election Form and return to Computershare Investor Services Plc. Shareholders holding their shares on the LSE who do not indicate their currency of choice before 27 November 2020 will receive their dividends in USD.
“The closing date for the dividend currency election to the Company’s Registrars Computershare Investor Services plc in the UK is 27 November 2020. Currency election forms can be obtained by contacting the Company’s Registrars.
” Arrangements for Shareholders that hold their shares on the Nigerian Stock Exchange (NSE): Shareholders that hold their shares on the Nigerian Stock Exchange may elect to receive their entire dividend payment in Dollars. Partial elections are not permissible. Holders electing to receive a dividend in Dollars should complete the Currency Election Form and return to United Securities Limited.
According to Airtel, “Shareholders holding their shares on the NSE who do not indicate their currency of choice before 27 November 2020 will receive their dividends in Naira. The closing date for the dividend currency election to the Company’s Registrars United Securities Limited in Nigeria is 27 November 2020. Currency election forms can found on the website of the
“The following currency exchange rate will be applicable in the determination of the interim dividend payment to any shareholders that qualify for and have elected to receive the interim dividend payment is 1 USD = 386 Naira and 1 USD = 0.7534 GBP. The exchange rate for the Naira amounts payable was determined by reference to the exchange rates applicable to the US Dollar available from 10 November 2020.”
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