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Monday, November 12, 2018 06:32PM / By Proshare Research/ NSE
Reference: Why Diamond Bank Opted For A CBN-Managed Acquisition By Access Bank Over The Carlyle Group
Access Bank Plc and Diamond Bank Plc have
this evening, both denied the media reports (not Proshare) earlier
released today on purported talks on acquisition.
The leeway provided them was offered by the news
release published and given a wide circulation (not including this medium).
We can discountenance the media release after the
denials below but we cannot discountenance that Diamond Bank Pc is in a serious
trouble.
The bank asked The Carlyle Group for more funds
before now, but Carlyle said NO and did in fact asked for their shares/position
in Diamond Bank to be liquidated, apart from other demands and exercise of
control over collaterals; which precipitated the reaction of the banks
management to hit a panic button.
Access Bank Plc is aware of this information and
others and knows its limits/limitations as regards the deal. The CBN equally
does and so do the SEC/NSE on this development.
We will await further pronouncements.
The notification published below
by the firms in a synchronised manner reflects a response to this:
Find below the releases issued by the
aforementioned entities via NSE:
Purported Talks For Access Bank Plc To Acquire Diamond Bank Plc
The attention of Diamond Bank Plc (“the Bank”) has
been drawn to the rumour in the media stating that the Bank is purportedly in
discussions with Access Bank Plc to acquire the Bank.
We wish to state categorically that the Bank is not
in discussions with any financial institution at the moment on any form of
merger or acquisition. We trust that the above clarifies the position of the
Bank with regards to the rumour on the various media platforms.
Recent Rumour On Business Combination With Diamond Bank Plc
Our attention has been drawn to newspaper report on
Access Bank Plc (“the bank”) being engaged in merger and acquisition talks with
Diamond Bank Plc.
We wish to notify the Nigerian Stock exchange and
the general public that the bank has not entered into any such discussions with
Diamond Bank or any other institution.
As a publicly quoted company built on best
practice, the bank is fully cognisant of its disclosure obligations in respect
of any such corporate action and will always discharge its obligations in the
most preferred manner.
Consequently, any statement regarding any such
corporate action that is not issued by the bank should be disregarded.
Financials
· Visit Diamond Bank Plc IR Page on Proshare MARKETS
· Visit Access Bank Plc IR Page on Proshare MARKETS
Contact Proshare via research@proshareng.com
News Platforms That Carried Development Nov 12, 2018
1. Talks on for Access Bank to acquire Diamond Bank - The Nation – Nov 12, 2018
2. Diamond Bank received no cash offer from investor, says board - Daily Trust – Nov 12, 2018
Related News on Access Bank Plc
1.
Why Diamond Bank Opted For A CBN-Managed Acquisition By
Access Bank Over The Carlyle Group
2.
Access Bank Plc 2018- 2022
Strategy – Presentation
3.
2018-2022 Transformational
Strategy: Access Bank targets 30ml customers
4.
Access Bank Launches New
Five-Year Strategy – to Become Africa’s Gateway to the World
5.
Access Bank Plc IR Page on
Proshare MARKETS
6.
ACCESS declares N62.91bn PAT in
Q3 2018 Results,(SP:N8.0k)
7.
ACCESS Declares N39.63bn PAT in
Q2 2018 Results;Propose 25k Interim Dividend,(SP:N9.50k)
8.
ACCESS Declares N22.12bn PAT in
Q1 2018 Results,(SP:N11.35k)
9.
ACCESS declares N61.99 bn PAT
in Q4 2017 Results, Proposes N0.40k Dividend Per share(SP:N11.75k)
Related News on Diamond Bank Plc
10. Why Diamond Bank Opted For A CBN-Managed Acquisition By Access Bank Over The Carlyle Group
11. Diamond Bank Plc IR Page on Proshare MARKETS
12. Nigerian Diamond Bank Downgraded On Weaker-Than-Expected Asset Quality; Outlook Negative
13. Diamond Bank Plc Postpones 9M 2018 Conference Call Due to Unforeseen Circumstances
14. DIAMONDBNK Declares N1.65bn PAT in Q3 2018 Result,(SP:N1.44k)
15. Diamond Bank Plc 9M 2018 - Underlying Pressures Persist
16. Diamond Bank Plc Refutes Recent Speculations On Capital Injection
17. Diamond Bank Plc Announces The Resignation of Board Chairman and Three Non-Executive Directors
18. Diamond Bank Issues Notice on CBN Levy on London Stock Exchange – Sep 07, 2018
19. CBN Debits Diamond Bank’s Accounts for the Full Amount of the Fine Levied Against It
20. One Week After CBN Fines –MTN Share Price Drops by 31.06%; DIAMONDBNK and STANBIC Also Drop
21. CBN Debits the Account of Stanbic IBTC Bank In Respect of N1.886bn Regulatory Fine
22. Banks, MTN Engage CBN Over $8.1b Fine; Factually Incorrect Premises Highlighted
23. MTN Nigeria, Banks and CBN Action – An Update and Initial Commentary
24. MTN Replies Nigeria’s CBN – You Approved The Funds Repatriated
25. CBN Clamps Down on Four Banks; Writes MTN to Refund $8bn
26. DIAMONDBNK Declares N1.79bn Profit in Q2 2018 Results,(SP:N1.40k)
27. Diamond Bank Plc Appoints Mr Oluseyi Bickersieih as a Director andChairman of its Board
28. Diamond Bank Plc Announces Its Closed Period and Board meeting
29. Diamond Bank Plc Announces The retirement of Prof. Chris Ogbechie from its Board
30. Nigeria-Based Diamond Bank 'B- and B' And 'ngBB and ngB' Ratings Affirmed; Outlook Negative
32. Diamond Bank Plc FY 2017 and Q1 2018 Conference Call and Earnings Presentation - The Key Takeaways
33. Diamond Bank Plc Releases FY2017 and Q1 2018 Results After Delay in Filing
34. Q1 2018 Results Summary – 97 Quoted Companies Filed Quarterly Financial Statements
35. Why These Listed Companies Have Delayed Filing Results As At March 31, 2018
36. Diamond Bank Seeks Extension For 2017 And Q1’ 2018 Accounts To May 2018
37. Diamond Bank Divests Its 100% Holding in Diamond Bank UK; To Focus on Nigeria
38. Diamond Bank Plc Announces Planned Divestment from Diamond ... Nov 3, 2017
39. Diamond Bank Plc Announces Delay in Filing FY 2017 Financial ...