Access Holdings Plc has secured shareholder approval to raise up to N40 billion, or its equivalent in foreign currency, through a private placement.
The approval came at the company’s Extraordinary General Meeting (EGM) held on Thursday, December 18, via special resolutions.
According to a notice to the Nigerian Exchange Limited (NGX), the new ordinary shares created under the private placement will be allotted at N20.25 per share to one or more investors in tranches, with terms and conditions determined by the Board.
The Board is authorised to finalise potential investors, determine the structure, valuation, modalities, and timeline for the private placement. The move will increase Access Holdings Plc’s issued share capital from N26.658 billion to N27.646 billion, through the creation of 1,975,308,641 ordinary shares of 50 kobo each, ranking pari-passu with existing shares.
Sub Zero ✔
Godwin Okafor is the Publisher & CEO of Naija247news Media Group LLC, an independent investigative news platform delivering accurate, data-driven reporting on Nigerian and global politics, economy, finance, and business. Founded in October 2010, Naija247news specializes in developmental journalism, providing timely insights and analysis to readers across Nigeria and the diaspora.
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