FBN Holdings denies reports of Significant Share Acquisition by Otedola - Daily Trust

FBH Holdings Plc says it is yet to receive any notice of a significant share acquisition in the company by any shareholder.

10/23/2021 11:45:00 PM

FBH Holdings Plc, the parent holding company of First Bank of Nigeria, says it is yet to receive any notice of a significant share acquisition in the company by any shareholder.

FBH Holdings Plc says it is yet to receive any notice of a significant share acquisition in the company by any shareholder.

But in a statement on Saturday, Seye Kosoko, company secretary, FBN Holdings, dismissed the reports.“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.”

“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read.

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FBN Holdings denies Otedola’s acquisitionFBN Holdings (FBNH) Plc has denied the purported acquisition of a majority stake in the company by Mr Femi Otedola.

We’re unaware of Otedola’s share acquisitions – FBN Holdings - Punch NewspapersThe most widely read newspaper in Nigeria You mean you were not informed too? These are the criminals that destroyed Nigeria with their father’s help. Nigeria have been destroyed a long time ago. Greed

We’re Yet To Receive Notice Of Otedola’s Majority Shares – FBNHFollowing the report of the founder and chairman of the Geregu Energy Group, Femi Otedola, acquiring the majority shares of FBN Holdings (FBNH) Plc, the

Femi Otedola Acquires Majority Shares Of First Bank HoldingsThere are strong indications that the founder and chairman of the Geregu Energy Group, Femi Otedola, has acquired the majority shares of FBN Holdings So, this means that otedola now owns firstbank...These people know how and when to move...I d like to learn eziokwum

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First Bank Holding says not aware of bank's takeover by OtedolaThe company did not deny the possibility of an acquisition; it said the firm had not received a notification of any such holding. Lmao this is so funny. We don hear Wahala

The reports said he had acquired over two billion ordinary shares of the company. But in a statement on Saturday, Seye Kosoko, company secretary, FBN Holdings, dismissed the reports. “The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice significant shareholding by the shareholders and the company’s Registrars.” “We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the statement read. FBN shares have witnessed large volumes of trading on the NGX Exchange this month. On October 7, for instance, a total of 573million units of the shares were traded, mainly due to an off-market trade of 473million units of the stock, or 1.33% of the total outstanding shares of 35.9billion units, at N16.00 per share, an unusual trade done at 65% premium to the market, as market sources noted. Trading activity on the stock represented some 60% of total trade done on the NGX for that day. More Stories