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Access Holdings gets approval from shareholders to raise $1.5bn capital

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Access Bank partners MasterCard to boost cross-border payment

 

The shareholders of Access Holdings Plc at the recent Annual General Meeting (AGM) held unanimously backed the group’s plan to establish a capital raising programme of up to $1.5 billion as well as the subset initiative to raise up to N365 billion, specifically, through a Rights Issue of ordinary shares to its shareholders.

The proceeds of the Rights Issue would be used to support on-going working capital needs, including organic growth funding for its banking and other non-banking subsidiaries.

The shareholders also ratified the appointments of Aigboje Aig-Imoukhuede, Olusegun Ogbonnewo, and Ojinika Olaghere as Non-Executive Directors.

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