WED AUG 14 2024-theGBJournal| Access Holdings Plc has announced an extension of the acceptance period for its ongoing Rights Issue, initially set to close on August 14, 2024.
The Issue period has now been extended to August 23, 2024, following the approval of the Securities & Exchange Commission (SEC).
The statement, signed by the Group’s Company Secretary, Sunday Ekwochi, confirmed that, “The decision is in response to the 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, dealings by 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.”
Access Holdings, a leading multinational financial services group plans to N351 billion through the rights issue to strategically bolster its financial position and support ongoing working capital needs.
The bank said when the rights issue received SEC approval in July, 20924, that it will also provide funding for organic growth across its banking and non-banking subsidiaries.
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