Tuesday, August 18 2015 7:22 PM / Press Release
Announces the result of the Rights Issue of 7,627,639,636 Ordinary Shares of 50 Kobo each on the basis of One (1) New Ordinary Share for every Three (3) Ordinary Shares at
N6.90 Kobo per share
Following Access Bank Plc.’s (“Access Bank” or “the Bank”) Rights Issue of 7,627,639,636 ordinary Shares of 50 Kobo each on the basis of one (1) ordinary share for every three (3) ordinary shares held as at October 23, 2014 at
N6.90 per share which closed on Wednesday, March 18, 2015, a total of 24,016 acceptances for 6,792,619,568 units valued at N46,869,075,019.20 were received in connection with the Rights Issue.
The Central Bank of Nigeria (“CBN”) verification process began on April 23, 2015. Following the verification process, the CBN advised that 34 names representing a total of 747,566,845 Ordinary Shares valued at
N5,158,211,230.50 have been rejected.
Consequent to the conclusion of CBN’s verification, a total of 23,982 acceptances for 6,045,052,723 units valued at
N41,710,863,788.70 were received and processed successfully in connection with the Rights Issue.
A summary of the Rights Issue is outlined below:
► 23.982 Acceptance Forms for 6,045,052,723 units of the Rights received were found to be valid under the terms of the Rights and were processed accordingly. The Rights Issue was therefore 79.3% subscribed.
A total of 1,582,586,913 ordinary shares were unallotted. These unallotted shares will be reverted to the unissued share capital of the Bank.
The above stated basis of allotment, as well as this announcement has been cleared by the Securities & Exchange Commission.
The Registrars to the Offer, United Securities Registrars Limited of 10 Amodu Ojikutu Street, Victoria Island Lagos, will credit the shares allotted to the CSCS accounts of applicants who have indicated their CSCS account numbers on their respective application forms with the shares allotted not later than September 7, 2015; and will dispatch share certificates in the name of the successful allottees by registered post by the same date.
The returned money plus accrued interest for the rejected applications will be dispatched to the affected shareholders not later than August 24, 2015 by the registrars.