RT Briscoe has launched a flexible investment plan aimed at supporting its 43,000 shareholders, mostly retired individuals, to invest in the company by making installment payments over 18 to 24 months. This initiative allows investors to accumulate shares by saving N100,000 over the specified period, with the option for larger investors to make a one-time payment.
The investment funds will be managed by a trustee approved by the SEC, who will hold the funds with interest until calling a meeting of all subscribers to decide whether to convert their savings into Briscoe shares. Onajide emphasized that this initiative provides an opportunity for interested parties to grow their funds, with additional benefits for those who choose to purchase Briscoe shares.
Additionally, the company accused the Manufacturers Association of Nigeria (MAN) of unlawful interference with its business, citing factors such as the removal of electricity subsidies and fluctuations in macroeconomic indices for increased electricity tariffs. RT Briscoe stated that MAN’s actions unfairly burdened the company and other Band A customers, as they were directed to disregard new tariff rates approved by regulators, exacerbating losses for the company.
Source: Daily Trust