September 29, 2011 / 1229hours
First City Monument Bank Plc (FCMB Plc) has just approved Merger and Acquisition Deal with Finbank Plc. Against the backdrop of the distraction created about whether the EGM’s of FCMB Plc and Finbank Plc will hold or not, Shareholders of FCMB Plc vote in favour of the M&A.
In the votes just counted, 99.97 per cent or 7.9 billion unit holders of FCMB Plc shareholders vote in favour of merger deal with troubled FinBank Plc while only 1.8 million unit holders voted against the merger deal.
Finbank Plc will remain as a separate entity in FCMB Plc and will benefit from the balance of FCMB Plc.
Stay tuned for updates.
Report Filled by MBC team in Abuja and the Proshare team in Lagos