Access Holdings Shareholders Rally Behind N351 Billion Rights Issue
L-R: Morounke Olufemi, Group Chief Financial Officer, Access Holdings Plc; Temi Popoola, Group CEO, Nigerian Exchange Group (NGX Group); Bolaji Agbede, Acting Group Managing Director /Chief Executive Officer, Access Holdings Plc; Umaru Kwairanga, Group Chairman, NGX Group; Aigboje Aig-Imoukhuede, Chairman, Access Holdings Plc; Ahonsi Unuigbe, Chairman, Nigerian Exchange Limited; and Roosevelt Ogbonna, Group Managing Director/CEO, Access Bank Plc, during the Facts Behind the Rights Issue Presentation by Access Holdings Plc, at the NGX in Lagos, yesterday.
Shareholders of Access Holdings PLC demonstrated resounding support for the company’s ambitious growth plans during a recent presentation at the Nigerian Exchange (NGX) office in Lagos. The event, titled “Facts Behind the Rights Issue,” saw shareholders express overwhelming confidence in Access Holdings’ strategic direction, particularly endorsing the ongoing N351 billion rights issue.
Access Holdings, known for its robust track record and consistent dividend payments, has garnered steadfast loyalty from shareholders. “Since Access Bank first traded at N0.65, we’ve witnessed remarkable growth, with the stock now at N19.35,” remarked Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, reflecting on the company’s evolution and shareholder value creation.
The sentiment was echoed by other shareholder groups, reaffirming their commitment to Access Holdings’ capitalization plans and future prospects. Aigboje Aig-Imoukhuede, Chairman of Access Holdings, reiterated confidence in the success of the rights issue, emphasizing its pivotal role in propelling the company toward its goal of becoming one of Africa’s top five financial institutions by 2027.
The rights issue, offering 17,772,612,811 ordinary shares at N19.75 per share, forms the initial phase of a broader capital raising program targeting up to US$1.5 billion. Funds raised will fortify Access Holdings’ financial position, support working capital needs, and foster organic growth across its banking and non-banking subsidiaries.
“We are grateful for our shareholders’ unwavering support,” stated Aig-Imoukhuede. “Having consistently delivered on promises since our recapitalization in 2002, we remain committed to achieving our strategic milestones under the adept leadership of Bolaji Agbede and Roosevelt Ogbonna.”
Roosevelt Ogbonna, CEO of Access Bank, emphasized the institution’s global ambitions, aiming to expand its customer base to 125 million by 2027 and secure a position among the top five banks worldwide. “Our journey from local roots to global influence underscores our commitment to sustainable growth,” Ogbonna affirmed. “By 2027, we envision Access Bank as a leading force in African banking, facilitating trade and delivering exceptional customer service.”
The rights issue opened on July 8 and will conclude on August 14, 2024, encouraging active participation from shareholders and prospective investors alike. Access Holdings remains steadfast in its mission to deliver enduring value and solidify its stature as a premier global financial institution.
For further information on the rights issue and investment opportunities, shareholders are encouraged to engage actively with Access Holdings.
