Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result

Press Release: FBN Insurance Completes Takeover of Oasis Insurance

Nairametrics by Nairametrics
January 7, 2015
in Uncategorized
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Afreximbank disburses $150 million to FirstBank to support businesses affected by covid-19 pandemic

Most valuable banks in Nigeria as of December 2021

  • FBN Insurance Limited, a subsidiary of FBN Holdings Plc, has concluded the takeover of Oasis Insurance Plc having acquired 71.2% equity interest through a block divestment in February 2014.
  • In accordance with Rules of the Securities & Exchange Commission, FBN Insurance Limited made a mandatory takeover bid for the remaining 28.8% equity interest in Oasis Insurance Plc.
  • By the close of the takeover bid on 31 July 2014, FBN Insurance Limited received a total of 1,289,493,953 ordinary shares bringing its shareholding in Oasis Insurance Plc to approximately 91.1%. FBN Insurance Limited elected to exercise its rights under Section 146(2) of the Investments and Securities Act to compulsorily acquire shares belonging to the minority shareholders having crossed the 90% threshold. At the end of the 20-day statutory notice period FBN Insurance Limited increased its holdings by an additional 22,603,617 shares bringing its holdings in Oasis Insurance Plc to approximately 91.4%.
  • FBN Insurance Limited thereafter transferred the sum of N310,649,730 to FBN Registrars (as   consideration for the outstanding  560,808,895 shares or  8.6%) to keep in trust for shareholders who are yet to tender their share certificates. By this action, FBN Insurance Limited hold 100% equity interest in Oasis Insurance Plc.
  • At the close of trading on December 31, 2014 and in furtherance to the application from Oasis Insurance Plc for voluntary delisting, The Exchange delisted the company and its entire ordinary shares from the Daily Official List.
  • Press Release

Related

Tags: fbn holdingsFinancial Services

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Brent falls below $100 for the first time since April 2022
    • The emergence of a Third Force…
    • Nigeria losing 20% of daily crude production to oil thieves – Wale Tinubu

    Follow us on social media:

    Recent News

    sanctions against Russia

    Brent falls below $100 for the first time since April 2022

    July 6, 2022
    2023 Presidency: Meet the men who want Buhari’s job

    The emergence of a Third Force…

    July 6, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com