Barely 24 hours after denying notification of possible acquisition of shares by Femi Otedola, the management of FBN Holdings (FBNH) Plc on Saturday confirmed that the business mogul had acquired a 5.07 percent equity stake in the company.
FBNHs Company Secretary, Seye Kosoko, in another statement issued on Saturday, posted on the website of the Nigerian Exchange (NGX) Ltd. affirmed that Otedola and his nominee now own 5.07% 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 companys 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 percent, the statement said.
Commenting on the issue, the Managing Director, APT Securities and Funds Ltd., Garba Kurfi, told newsmen in Lagos that Otedola is now the largest single shareholder in the company.
Kurfi, who dispelled the rumours that Otedola had acquired FBN Holdings said he was only the largest single shareholder.
He noted that 95 percent of the FBNH shares were still in the hands of other shareholders, comprising Pension Fund Administrators, (PFAs) and other individuals.
Kurfi explained that Otedola started buying into the company in July when the opportunity arose.
However, a reliable source told newsmen that it was Oba Otudeko that sold all his stakes due to the issues he had with the Central Bank of Nigeria, (CBN).
