ETERNA obtains SEC’s approval, Opens right issue of 978,108,485 shares

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• on Basis of 3/4 basis

Eterna Plc, following approval by the Securities and Exchange Commission (SEC) of its rights issue of shares to existing shareholders, has opened its rights issues for shareholders subscription.

A release on the NGX Exchange portal titled “ETERNA PLC – RIGHTS ISSUE OF 978,108,485 ORDINARY SHARES OF N0.50 EACH AT N22.00 PER SHARE” published on Monday disclosed that The Offer opened Monday, 12 January 2026, and closes on Wednesday, 18 February 2026.

The statement signed by David Edet, General Counsel/Company Secretary and obtained by our correspondent made the disclosure on the Rights Issue of 978,108,485 ordinary shares of N0.50 each at N22.00 per share (the “Offer”) and made to existing shareholders on the basis of three (3) new ordinary shares for every four (4) ordinary shares held as at 27 November 2025.

“Eterna Plc (“the Company”) is pleased to notify its esteemed shareholders and Nigerian Exchange Limited (“NGX”) that the Company has obtained the approval of the Securities and Exchange Commission (“the Commission”) to commence its Rights Issue of 978,108,485 ordinary shares of N0.50 each at N22.00 per share (the “Offer”).

The Offer is being made to existing shareholders on the basis of three (3) new ordinary shares for every four (4) ordinary shares held as at 27 November 2025. The Rights Circular will be distributed to shareholders by the Registrars to the Offer, Greenwich Registrars and Data Solutions Limited, and can also be accessed on the Company’s website.

“The Offer opens today, Monday, 12 January 2026, and closes on Wednesday, 18 February 2026.

“The Rights being offered are tradable on the floor of NGX for the duration of the Acceptance Period.

The company enjoined its Shareholders to participate through the NGX Invest platform, which can be accessed electronically via the NGX portal. Adding that Shareholders may also participate in the Rights Issue by completing the paper Participation Form. Completed Participation Forms, together with payment or evidence of payment for the full amount payable, should be submitted no later than Wednesday, 18 February 2026, to any of the Issuing Houses or Receiving Agents listed in the Rights Circular.

According to the company, the Rights Issue provides existing shareholders with the opportunity to increase their equity holdings in the Company, thereby reinforcing their participation in and support for Eterna’s long-term growth strategy.

The capital raised will be deployed to support several strategic initiatives, including the expansion of Eterna’s retail network, upgrading of its lubricant blending plant, enhancement of LPG retail assets, acquisition of commercial delivery assets, expansion of aviation fuelling operations, and investments in ESG-related projects aligned with the Company’s sustainability objectives.

Shareholders are advised to contact their stockbrokers and/or financial advisors for further information regarding the Offer.