FBN Holdings Notifies of a New Investor With Over 5% Stake

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Sunday October 24, 2021 / 09:50 AM / by Proshare Research/ Header Image Credit:  FBNH & EcoGraphics


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The management of FBN Holdings Plc has written officially to the Nigerian Exchange notifying of the acquisition of substantial shareholdings in the Holding Company by a new investor.

 

According to the released dated October 23, 2021 and published on the Exchange website, FBN Holdings Plc stated that it received a notification from APT Securities and Funds Limited, that their Client, Mr. Otedola Olufemi Peter and his nominee, Calvados Global Services Limited have acquired a total of 1,818,551,625 units of shares from the Company's issued share capital of 35,895,292,791.

 

Furthermore, it stated that the equity stake of Mr. Otedola Olufemi Peter and his nominee in the Company is now 5.07%.

 

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The above press release follows the earlier release from FBN Holdings Plc where  it stated that it is yet to get a notification from any individual  mentioned in the series of media reports that a certain individual has acquired significant shareholding interest in FBN Holdings Plc therefore making him the majority shareholder in the Company.

 

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It will be recalled that Proshare had released a commentary on October 17th, 2021 titled FBNH Investors Chase Value - Understanding the Holdco's 34.78% Share Price Rise in 2 Weeks wherein it was stated that the shares of FBN Holdings has risen by 34.78% in 2 weeks and that the huge FBNH share purchases in recent weeks represent a strategic move by an experienced power broker. The commentary can be accessed in the link above in this paragraph.

 

Proshare's commentary on the substantial share acquisition will follow...


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PDF - 100 Days After CBN's Board Removal: First Bank's Shaky House of Cards Report (PDF)

1.      Executive Summary: 100 Days After CBN's Board Removal: First Bank's Shaky House of Cards -  September 19, 2021

2.      Full Report: 100 Days After CBN's Board Removal: First Bank's Shaky House of Cards  -  September 19, 2021

 


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Related Articles/References

1.      FBNH Investors Chase Value - Understanding the Holdco's 34.78% Share Price Rise in 2 Weeks - Oct 17, 2021

2.      100 Days After CBN's Board Removal: First Bank's Shaky House of Cards. -Sept. 19, 2021

3.      Of First Bank and Bad Debtors; A System's Throbbing Headache - Apr 30, 2021 - Proshare Editorial

4.      CBN Removes Boards of First Bank of Nigeria, FBN Holdings; Appoints New Chairmen - Apr 29, 2021 - Proshare News

5.      Analyzing the H1 2017 Performance of FBNHoldings Plc - A Comprehensive Report/Review on the Company - Oct 23, 2017, Proshare Research

6.      FBNHoldings Plc Q1' 2017 Performance Assessment Report Updated - Sep 25, 2017, Proshare Research

7.      Bank NPLs (23) - The Case for a New Approach - Jun 07, 2020 - Debtors Africa

8.      W. Chan Kim and Renee Mauborgne (2004) "Blue Ocean Strategy" 

9.      Board Governance: A Thin Line Between Oversight and Operations - Sep 28, 2020 - IoD Centre for Corporate Governance

10.   Leadership, Change and Corporate Transformation - The Nigerian Experience  Nov 07, 2017, Olufemi AWOYEMI - Proshare

11.   CEO Remuneration 2021 Report: From COVID to Collaboration - Aug 01, 2021, Proshare Research

12.   Memo to the Market - The NSE, Oscar Onyema Foundation and Corporate Governance - Aug 20, 2018, Olufemi Awoyemi, Proshare

13.   FBN Holdings Plc - IR Page on Proshare Markets - Proshare Research

14.   Annual Accounts - IR Page in Proshare - Proshare Research

15.   Bernard Longe wins suit against First Bank Plc, Supreme Court decides today - Mar 05, 2010, Proshare

 

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

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