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Home » Otedola is yet to notify us on share acquisition – First Bank

Otedola is yet to notify us on share acquisition – First Bank

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Otedola is yet to notify us on share acquisition – First Bank

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By Dedeigbo Ayodeji

FBN Holdings (FBNH) Plc has said it is yet to receive any notification from Femi Otedola on the reported new share ownership acquisitions.

This was disclosed by FBNH’s Company Secretary, Mr Seyi Kosoko, in a statement on Friday.

He added that the company always notifies the appropriate agencies and authorities whenever it received any notice of significant shareholding by the shareholders and its registrars.

The statement read, “The attention of FBNH has been drawn to media reports of today, Oct. 22, purporting that a certain individual has acquired significant shareholding interest in FBN Holdings, making him the majority shareholder in the company.

“As a listed company, the shares of FBN Holdings are publicly traded, and sale and acquisition of shares is expected in the normal course of business,” said the statement.

“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions.

“FBN Holdings Plc will always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholding by the shareholders and the company’s registrars.”

Our correspondent reported earlier that Mr Otedola, through his proxies and investing vehicles, now owns over 5% of the bank, setting himself up to be the single largest shareholder of the bank.

According to our sources, shares of FBNH have been mopped up over the course of the last 6 months when the share price traded at just above N7. However, rumours of an imminent takeover started to make the rounds among traders pushing up the share price of the bank to breach the N8 ceiling by end of September.


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