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How MDs of Zenith, Access spent N44.67bn to secure holding interest
How MDs of Zenith, Access spent N44.67bn to secure holding interest
The managing directors of Access Holdings Plc and Zenith Bank Plc have spent N44.67 billion to acquire more shares to ensure stake in their companies.
In separate disclosures to the investing public, Herbert Wigwe, the group managing director of Access Holdings, acquired 1,350,188,284 units of shares at an aggregated sum of N32.8 per share, totalling N44.29 billion.
Wigwe had, through the additional acquisition, raised his controlling interest in the bank to 8.74 per cent or 3,105,789,014 of the company’s total shares outstanding of 35,545,225,622.
Details of the transactions showed that Wigwe, on April 27, acquired 1,135,188,284 units at N10 per share, which amounted to N11.35 billion.
On May 5, he acquired 75,000,000 units of shares at N11.25, for N843.75 million, and on May 8, 140,000,000 units at N11.55 per share for N1.617 billion.
These transactions were done through Tengen Holdings (Mauritius) Limited.
His counterpart in Zenith Bank, Ebenezer Onyeagwu, bought 8,000,000 additional shares at N47.94, for N383.52 million, which raised his stake to 0.29 per cent or 90,176,078 units of the company’s total outstanding shares of 31,396,493,786.
By this acquisition, Onyeagwu has further secured his hold as the second largest shareholder of the company.
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According to the official disclosure released on Thursday, May 11, Onyeagwu on May 4 acquired an aggregated 3,463,461 units at N23.93 per share, of which the transaction details showed he bought 1,236 units at N23.85 per share; 1,161,608 units at N23.95 per share; and 2,300,617 units at N24 per share.
The Zenith Bank boss, on May 5, acquired additional shares of 4,536,539 units at N24.01 per share. The transaction was broken down into 283,794 units at N23.90 per share; 1,276,667 units at N24 per share; 2,376,078 units at N24.05 per share; and 600,000 units at N24.10 per share.
The company’s financial reports showed that as of December 31, 2022, Wigwe held 201,231,713 direct shares and 1,554,369,017 indirect shares of Access Holdings, while Onyeagwu held 82,176,078 units of Zenith Bank’s shares.
Wigwe’s indirect holdings relate to United Alliance Company of Nigeria Limited assets, 537,734,219 units of shares; Trust and Capital Limited, 584,056,979 units of shares; and Coronation Trustees Tengen Mauritius, 432,577,819 units of shares.
According to Zenith Bank, the board of directors, under the powers vested in it “by the provisions of section 426 of the Companies and Allied Matters Act (CAMA 2020) of Nigeria,” proposed a final dividend of N2.90 per share which, in addition to the N0.30 per share as interim dividend amounts to N3.20 per share from the retained earnings account as at 31 December 2022.
It means that Onyeagwu had about N288.56 million dividends from Zenith Bank by the end of last year.
The payment of dividends is subject to a withholding tax rate of 10 per cent in the hands of a qualified recipients.
Zenith Bank has a diverse shareholding structure, with no single ultimate individual shareholder holding more than 12 per cent of the bank’s total shares.
The bank’s chairman/non-executive director, Jim Ovia, holds 11.29 per cent of 3,546,199,395 direct shares and 1,523,928,375 indirect shares as of December 31, 2022.
The board of directors of Access Holdings also proposed a final dividend of N1.30k per ordinary share. It then means that Wigwe pocketed about N4.04 billion dividend from Access Holdings in 2022.H
How MDs of Zenith, Access spent N44.67bn to secure holding interest
ICIR with minimal editing
metro
Bandits kill nine civilian JTF members, kidnap three in Sokoto
Bandits kill nine civilian JTF members, kidnap three in Sokoto
At least nine Civilian Joint Task Force members fighting bandits in Sokoto State have been reportedly killed in an ambush, while an unspecified number sustained varying degrees of injury.
It was gathered that three CJTF members were also taken away by the bandits.
A source told our correspondent that the incident occurred last Sunday in Isa Local Government Area of the state.
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The CJTF source added that Isa LGA is a stronghold of bandits and very dangerous for security operatives.
“We lost nine members in an ambush in Isa LGA, many others were wounded and three others were abducted in the attack after our members received a distress call to support security operatives.
“We received the sad news two days ago. Since the beginning of this year, when we were asked by the state government to deploy our members to support the troops in the fight against banditry in the North-West.”
Recall that this was the second time bandits would ambush CJTF men in Sokoto State in two months.
Bandits kill nine civilian JTF members, kidnap three in Sokoto
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IPOB declares sit-at-home May 30 to honour Biafra heroes
IPOB declares sit-at-home May 30 to honour Biafra heroes
The Indigenous People of Biafra (IPOB) has declared Thursday May 30 as sit-at-home day in South East to honour those who fought in the civil war.
In a statement issued by IPOB’s Media and Publicity Secretary, Comrade Emma Powerful, said: “The sit-at-home is an annual event held on May 30th to remember the men and women who died during the Nigerian civil war between 1967 and 1970.
“IPOB leader, Mazi Nnamdi OkwuChukwu Kanu, urged all Biafrans, friends of Biafra, and residents in Biafra Land to observe the sit-at-home and reflect on the sacrifices made by the fallen heroes.
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“All schools, government offices, private offices, banks, transport unions, market unions, and private individuals are expected to shut down operations on May 30th, except for medical personnel and emergency workers.”
IPOB also called on Christians and traditional worshipers to use the day to pray for the fallen heroes and for Biafra’s independence from Nigeria.
The group warned residents to avoid loitering and stay indoors from 6 am to 6 pm to avoid any confrontation with security forces.
“IPOB members in diaspora are encouraged to organize peaceful rallies and seminars to raise awareness about the Biafran struggle and the ongoing genocide against the Biafran people.
By honoring the heroes and heroines of the Biafran struggle, IPOB hopes to keep their memory alive and continue the fight for Biafra’s freedom and independence, ” the statement added.
IPOB declares sit-at-home May 30 to honour Biafra heroes
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Court sends tenant to prison for setting landlord’s house on fire
Court sends tenant to prison for setting landlord’s house on fire
One Dickson Peter has been remanded in a correctional facility for allegedly setting his landlord’s house on fire.
An Iyaganku Chief Magistrates’ Court in Ibadan, ordered the remand of the accused on Thursday.
According to NAN, the police charged 35-year-old peter with two counts of felony and arson.
The Magistrate, Mr M. Mudashiru, who did not take the defendant’s plea due to want in jurisdiction, ordered that he should be remanded in Abolongo Correctional facility, Oyo Town.
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Mudashiru said the remand is pending legal advice from the Director of Public Prosecution, DPP.
He adjourned the matter until July 23, for mention.
Earlier, the Prosecution Counsel, Insp Femi Oluwadare informed the court that Peter on April 18, at about 12:30a.m, was alleged to have unlawfully set fire to the House of his Landlord, Cepas Okeme and destroyed properties worth N6.5 million.
Oluwadare said after he set the building on fire, it also spread to the next property belonging to Bose Ali ‘ F’ and also destroyed property worth N3.5 million.
He said the offence contravened the provisions of section 443 of the Criminal Code Laws of Oyo State 2000
Court sends tenant to prison for setting landlord’s house on fire
Bandits kill nine civilian JTF members, kidnap three in Sokoto
Yahaya Bello govt spending third term in office through Ododo – Clark
IPOB declares sit-at-home May 30 to honour Biafra heroes
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