SundayOctober 24, 2021 / 09:50 AM / by Proshare Research/ Header ImageCredit:  FBNH & EcoGraphics

The management of FBN Holdings Plchas written officially to the Nigerian Exchange notifying of the acquisition ofsubstantial shareholdings in the Holding Company by a new investor.

Accordingto the released dated October 23, 2021 and published on the Exchange website,FBN Holdings Plc stated that it received a notification from APT Securities andFunds Limited, that their Client, Mr. Otedola Olufemi Peter and his nominee,Calvados Global Services Limited have acquired a total of 1,818,551,625 unitsof shares from the Company's issued share capital of 35,895,292,791.

Furthermore,it stated that the equity stake of Mr. Otedola Olufemi Peter and his nominee inthe Company is now 5.07%.

The above press release follows the earlier releasefrom FBN Holdings Plc where  it stated that it is yet to get anotification from any individual  mentioned in the series of media reportsthat a certain individual has acquired significant shareholding interest in FBNHoldings Plc therefore making him the majority shareholder in the Company.

It willbe recalled that Proshare had released a commentary on October 17^th,2021 titled FBNHInvestors Chase Value - Understanding the Holdco's 34.78% Share Price Rise in 2Weeks wherein it was stated that the shares of FBN Holdings has risenby 34.78% in 2 weeks and that the huge FBNHshare purchases in recent weeks represent a strategic move by an experiencedpower broker. The commentary can be accessed in the link above in thisparagraph.

Proshare'scommentary on the substantial share acquisition will follow...

PDF - 100 Days After CBN's Board Removal: First Bank'sShaky House of Cards Report (PDF)

1.      Executive Summary: 100 Days After CBN's Board Removal: First Bank's ShakyHouse of Cards - September 19, 2021

2.      Full Report: 100 Days After CBN's Board Removal: First Bank's Shaky House ofCards  - September 19, 2021

Related Articles/References

1.      FBNHInvestors Chase Value - Understanding the Holdco's 34.78% Share Price Rise in 2Weeks - Oct 17, 2021

2.      100Days After CBN's Board Removal: First Bank's Shaky House of Cards. -Sept. 19, 2021

3.      Of First Bank and Bad Debtors; A System's ThrobbingHeadache - Apr 30, 2021 - Proshare Editorial

4.      CBN Removes Boards of First Bank of Nigeria, FBNHoldings; Appoints New Chairmen - Apr 29, 2021 - Proshare News

5.      Analyzing the H1 2017 Performance of FBNHoldings Plc- A Comprehensive Report/Review onthe Company - Oct 23, 2017, Proshare Research

6.      FBNHoldings Plc Q1' 2017 Performance AssessmentReport Updated - Sep 25, 2017, Proshare Research

7.      Bank NPLs (23) - The Case for a New Approach - Jun07, 2020 - Debtors Africa

8.      W. Chan Kim and Renee Mauborgne (2004) "Blue Ocean Strategy" 

9.      Board Governance: A Thin Line Between Oversight andOperations - Sep 28, 2020 - IoDCentre for Corporate Governance

10.   Leadership, Change and Corporate Transformation - TheNigerian Experience  Nov07, 2017, Olufemi AWOYEMI - Proshare

11.   CEO Remuneration 2021 Report: From COVID to Collaboration - Aug01, 2021, Proshare Research

12.   Memo to the Market - The NSE, Oscar Onyema Foundationand Corporate Governance - Aug 20, 2018, Olufemi Awoyemi, Proshare

13.   FBN Holdings Plc - IR Page on Proshare Markets - Proshare Research

14.   Annual Accounts - IR Page in Proshare - Proshare Research

15.   Bernard Longe wins suit against First Bank Plc,Supreme Court decides today - Mar 05, 2010, Proshare