Access Holdings extends Rights Issue exercise till Aug 23
Access Holdings Plc has extended its Rights Issue exercise till August 23, 2024, in response to recent nationwide protest that disrupted operations of businesses.
The Pan-African financial institution seeks to raise 17,772,612,811 ordinary shares of N0.50 each at a price of N19.75 per share through Rights Issue offers.
The offer will be issued on the basis of one (1) new ordinary share for every two (2) existing ordinary shares held as of Friday, June 7, 2024.
This marks a significant milestone in the Group’s previously announced Capital Raising Programme, which aims to generate up to $1.5 billion.
The Company Secretary, Access Holdings, Mr. Sunday Ekwochi in a signed statement on Tuesday posted on the Nigerian Exchange Limited (NGX) stated that period of the acceptance list for its Rights Issues that opened on July, 8 2024, to close on August 14, 2024 has been extended to August 23, 2024 following the approval of the Commission.
Ekwochi, added that the decision to extend the offer is in response to recent nationwide protest that disrupted operations of businesses and individuals across Nigeria and to provide shareholders with ample opportunity to subscribe to their rights.
“During the extended period of the issue, dealing by the company’s insides on the Company’s insiders on the company’s shares will continue to be strictly limited to participation in the Rights Issue as earlier approved by the Exchange in respect of the non-dealing period on the company’s audited interim financial statements for the period ended June 30, 2024, until 24 hours after the publication of the interim financial statements,” the statement added.
