“I have scheduled a press conference in a week followed by a couple of TV appearances. One will be on a breakfast show, and the other a business personality profile.”
“That sounds very good, thanks. My secretary will set up a meeting for tomorrow.” Edward turned to the finance director, “What are our options? If we want to buy back some shares; how will that affect our financial situation?”
“Bear in mind the acquirers won‘t negotiate a sale.”
Mr. Ogunnaike replied, “That means if we go to the market, the shares out there will be at a premium. One only needs a good look at that crucial lump ownership of seven percent. Yet the alternatives are few. We‘re currently stretched due to the recent investment in the entertainment arm last year. Only fifty million can be spared from operations and that‘s the money intended for upgrading our technology. We may have to go to the banks for a loan…”
“No, no, I wouldn‘t suggest that. We‘ll only add debt with interest to our profile…”
“I‘m listing the choices to pick or discard. Bank loans are also my last preference.”
Mr. Okereke the manager of Capital Investments continued. “I propose we go to the market with newly created stock or bonds. Like the offers we‘ve been holding off committing to. The American Fund that wants preferred stock and the Chinese buy-in through new issue.”
Edward took over from him. “This brings me to the crux of the meeting. I know we are all aware of the regulatory background. You all got the brief on the takeover process?”
Most of them nodded; others looked down and flipped through their documents.
“Things are going to move very fast from here on. We‘ll schedule an extra-ordinary general meeting for two weeks from now. All hands will be needed and nothing I say in this room gets out until then. You all signed confidentiality agreements when you joined the company, and it‘s more important now than ever before that none of you fall foul of that policy.”
**********
Just before she entered the restaurant, Gladys checked her bag to make sure she was ready, and then she sauntered in. She was dressed casually in a white shirt and jeans with a matching clutch. Chief Okrika sat alone on the far side of the room, and as she walked towards him, she ruminated silently that Ola had been right. Before she got to the table, he stood with a beaming smile on his face and pulled out a chair for her.