Business a.m.
Access Holdings Plc has extended the acceptance period for its ongoing N351 billion rights issue, following approval by the Securities & Exchange Commission (SEC), providing existing shareholders and other investors with a longer period to invest in the new capital raising.
Access Holdings is offering 17.772 billion ordinary shares of 50 kobo each at a price of N19.75 per share to existing shareholders. The offer, which opened on Monday, July 08, 2024, was initially scheduled to close on August 14, 2024. However, in response to the recent nationwide protest that disrupted businesses and individual operations across the country, Access Holdings, in a regulatory filing at the Nigerian Exchange (NGX), has extended the offer period to August 23, 2024.
The extension, disclosed in a statement, signed by Sunday Ekwochi, the group’s company secretary, explained, “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.
Aigboje Aig-Imoukhuede, chairman of Access Holdings Plc, recently highlighted the group’s commitment to creating value for its shareholders. He explained that the group decided on a rights issue as a way of upholding this commitment which is expected to strengthen the relationship between Access Holdings and its shareholders.
Speaking at a session on the Access Holdings’ rights issue at the Nigerian Exchange (NGX), Chairman Aigboje Aig-Imoukhuede assured shareholders that the group is entering a new era of exceptional growth, with an opportunity for them to enjoy significant returns on their investments.
Aig-Imoukhuede further implored shareholders to take advantage of their rights by participating in the rights issue, emphasising that the group’s investments will yield even greater returns in the future.
