Article Summary
- The acquisition of 150 million shares represents 0.43% of the company’s total outstanding shares of the company.
- Wigwe’s indirect holdings now stand at 1,924,369.017 units of shares from 1,554,369,017 as of December 31, 2022, while his direct holdings remained at 201,231,713 units of shares.
- Access Holdings closed its last trading day (Tuesday, May 16, 2023) at N10.15 per share on the Nigerian Stock Exchange (NGX), recording a 1.5% gain over its previous closing price of N10.00.
Tengen Holdings (Mauritius) Limited, a company related to the Group Chief Executive of Access Holdings Plc, Dr. Herbert Wigwe, has again acquired additional 150 million shares worth N1.49 billion in the company.
This is contained in a notice of share dealing by an insider to the Nigerian Exchange Limited obtained by Nairametrics.
The acquisition of 150 million shares represents 0.43% of the company’s total outstanding shares of the company.
With the acquisition, Tengen Holdings has increased its number of shares from 432,577,819 units of shares as of December 31, 2022, to N802,577,819 units.
Consequently, Wigwe’s indirect holdings now stand at 1,924,369,017 units of shares from 1,554,369,017 as of December 31, 2022, while his direct holdings remained at 201,231,713 units of shares.
The notice signed by Sunday Ekwochi, Company Secretary indicated that Tengen Holdings on May 12th, 2023, purchased 75,000,000 units of Access Holdings Plc at N9.9 per share valued at N742.5 million.
Additionally, on a separate deal. on the 12th of May 2023, the company also bought shares 75,000,000 units of shares at N9.9 per share valued at N742.5 million. This brings the total value of shares purchased to N1.49 billion.
According to details of the transactions made available by NGX Limited, Wigwe owns the investment as an indirect shareholding through Tengen Holding (Mauritius) Limited.
Wigwe remained the bank’s single largest shareholder with about 5.98% of its total shareholding structure. With the latest acquisition.
Access Holdings closed its last trading day (Tuesday, May 16, 2023) at N10.15 per share on the Nigerian Stock Exchange (NGX), recording a 1.5% gain over its previous closing price of N10.00. Access began the year with a share price of N8.50 and has since gained 19.4% on the price valuation.
What you should know
According to the results presented on the floor of the Nigerian Exchange Limited (NGX), the bank reported N15 trillion in total assets, representing an increase of 28% from N11.73 trillion reported in the corresponding period of 2021.
The Group’s gross earnings rose by 43% to hit N1.388 trillion, as against the N971.9 billion it recorded the previous year, while interest income was up by 19% to N359.4 billion from N301.5 billion recorded in 2021.
Additionally, deposits from its customers increased to N9.25 trillion, higher than N6.955 trillion in 2021, while loans and advances to customers also went up to N5.557 trillion, from N4.446 trillion as of the full year, of 2021.
The management, however, proposed a final dividend of N46.21 billion, representing N1.30 per share to its shareholders for the year ended December 31, 2022.
