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FBN Holdings confirms Otedola’s acquisition of 5.07% equity stake

Barely 24 hours after denying notification of possible acquisition of shares by Mr Femi Otedola, FBN Holdings (FBNH) Plc on Saturday have confirmed that the business mogul had acquired 5.07 per cent equity stake in the company.

FBNH’s Company Secretary, Mr Seye Kosoko, in another statement on Saturday posted on the website of the Nigerian Exchange (NGX) Ltd. Confirmed that Otedola and his nominee now own 5.07 per cent equity stake in the company.

“We refer to our communication to the market dated October 22, on the above subject wherein we stated that we would inform the public of any substantial acquisition, upon receipt of notification from the Shareholder.

“This morning, Oct. 23, 2021, FBN Holdings Plc received a notification from APT Securities and Funds Ltd., that their client, Mr Otedola Olufemi Peter and his nominee, Calvados Global Services Ltd. have acquired a total of 1,818,551,625 units of shares from the company’s issued share capital of 35,895,292,791.

“Based on the foregoing, the equity stake of Mr Otedola Olufemi Peter and his nominee in the company is now 5.07 per cent,” said the statement.

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