Imperial Logistics Increases Stake in MDS Logistics Limited.

UAC of Nigeria (“UAC or the Company”) wishes to inform The Nigerian Stock Exchange (The Exchange), its shareholders and stakeholders that the Company has entered into an agreement with Imperial Logistics Limited (“Imperial Logistics”), under which Imperial Logistics proposes to increase its shareholding in MDS Logistics Limited (“MDS” or the “Company”) from 49% to 57%, by acquiring an additional 8% shareholding from UAC (the “Transaction”).The Transaction is subject to relevant regulatory approvals.

Under the terms of the Transaction, Imperial Logistics will transfer selected profitable contracts to MDS and pay USD 2.4 million in cash. The Transaction is based on a USD 40 million equity value for MDS.

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