Securities Matters

We deal with a broad range of transactional, compliance and regulatory matters and regularly advise our clients on all aspects of securities laws.

We frequently act as counsel in connection with public offerings, private placements and other transactions relating to obtaining capital through the securities markets. We are experienced counsel to issuers, as well as to underwriters of public offerings and placement agents for private transactions and other securitizations.

Our familiarity with the securities and exchange commission and other regulatory bodies, including the stock exchanges, enables us to effectively assist clients in their dealings with these agencies. In this connection, we have been involved as solicitors in the issue of corporate securities by a number of public companies on different occasions. These include:

  • Savannah Bank of Nigeria Plc – we acted as solicitor to the public issue of the Bank’s shares.
  • Trans International Bank Plc – we acted as solicitors to the two public issues of shares by the Bank.
  • Oyo State Development Bond – we acted as solicitors to the issue.
  • Highland Bank of Nigeria Plc – we acted as solicitors to the public issue of the Bank’s shares on two different occasions.
  • N30 Million National Insurance Corporation of Nigeria – we acted as joint solicitors to the issue.
  • N30 Million UTC Debenture Stock – we acted as solicitors to UTC Nigeria Plc.
  • Nigerian Textile Mills Plc – we acted as solicitors for the lenders in the syndicated financing of its equipment modernisation and expansion programme.
  • Delta Glass Nigeria Plc – we acted as solicitors to the public issue of shares.
    Nigerian Sewing Machine Manufacturing Nigeria Limited – we acted as solicitors to the public issue of the shares.
  • First Bank of Nigeria Plc – we acted as solicitors to the Bank in the public issue of 2,000,000,000 ordinary shares in 1997.
  • Rights issue of 42,000,000 shares and public offer for subscription of 58,000,000 shares by UNIC Insurance Plc in 1997. We acted as solicitors to the issue.
  • Offer for subscription of 700,000,000 shares by Trans International Bank in 1997. We acted as solicitors to the Company.
  • Offer for subscription of 160,000,000 shares by Amicable Assurance Plc in 1998 where we acted as solicitors to the Company.
  • Offer for subscription of 200,000,000 ordinary shares of First Bank of Nigeria Plc in 1997. We acted as solicitors to the Company.
  • Offer for subscription of N2,000,000,000 IMB Energy Master fund in 2000. We acted as solicitors to the trustees with functions including preparing the trust deed and reviewing the prospectus in line with Nigerian corporate law.
  • Offer for subscription of 234,903,398 ordinary shares and rights issue of 353,019,320 ordinary shares of Trans International Bank Plc in 2001. We acted as solicitors to the Bank.
  • The rights issue of 1,090,831,848 and private placement of 1,000,000,000 ordinary shares of Oasis Insurance Plc in 2006. We acted as the solicitors to the issue and private placement.
  • Public offer of 3,000,000,000 ordinary shares of Acen Insurance Plc in 2006 where we acted as the solicitors to the offer.
  • Osun State N30,000,000,000.00 14.75% fixed rate development bond due 2019 tranche 1 under the N60,000,000,000.00 debt issuance programme in 2012 – we acted as solicitors to the trustees to the bond.