By our reporter/ FBN Holdings Plc, the holding company of First Bank Nigeria Limited, on Wednesday confirmed Mr. Tunde Hassan-Odukale as the single-largest shareholder.
According to a filing made available to The Nigerian Exchange (NGX) by the bank, with 5.36 percent equity holding, Hassan-Odukale is its largest single-holder followed by Femi Otedola with a 5.07 percent stake in the Group.
The filling lists both Odukale and Otedola as the only two substantial shareholders, who have more 5% equity interest in FirstBank Holdings Plc.
In a letter addressed to the Director-General of the Nigerian Exchange Limited, FBN Holdings notified the Bourse that Hassan-Odukale holds a cumulative of 5.36 percent of the Group, while Otedola holds a total of 5.07 percent, of the Group’s issued share capital.
The letter by Seye Kosoko, FBN Company Secretary, was a response to the NGX’s request for clarification on the rationale for arriving at Odukale’s ownership, especially as holdings by entities like Leadway Pensure were added to its “cumulative stake” in the Group, even as Leadway Pensure is a pension fund administrator holding assets, including shares in companies, on behalf of the pension contributors, who are the ultimate beneficial owners of the assets.
FBN Holdings in the letter, defined “substantial shareholders” to mean “shareholders with 5% and above shareholdings”.
The battle for control of the country’s premier bank erupted last weekend following initial media reports that Otedola had acquired a controlling stake in the bank.
While the bank initially said it had not been informed about Otedola’s significant acquisitions in its shares, it later confirmed the reports and indicated that he had actually amassed as much as 5.07 shareholding in FBN Holdings Plc.
The shares of FBN Holdings remain one of the most active on the NGX, with a total of 75.46 million units traded at a value of N898.01 million some 28.04 percent of the total N3.20 billion value of transactions conducted on the NGX on Wednesday.
Leave a Reply