Connect with us

Business

Living Trust Mortgage Bank debunks media claim on acquisition of substantial equity stake by foreign investor

Published

on

Living Trust Mortgage Bank debunks media claim on acquisition of substantial equity stake by foreign investor

Living Trust Mortgage Bank Plc has debunked a recently published news that a foreign investor is about to acquire 7% equity stake in the Company.

In a notice to the Nigerian Exchange Limited , the Mortgage Bank stated thus:

“The attention of Living Trust Mortgage Bank Plc has been drawn to an online media reports dated the 13th of March, 2024 with the caption “foreign investor eyes stake in Living Trust Bank”. We wish to notify the Nigerian Exchange Limited and members of the public, particularly the shareholders of Living Trust Mortgage Bank Plc that the publication was neither sponsored nor authorized by the Bank.

News continues after this Advertisement

While it is true that we are currently making efforts to recapitalize the Bank and that we are engaging a plethora of local and foreign prospective investors in furtherance of our recapitalization objectives, we have not reached any agreement with anyone.

As a listed Bank operating in a regulatory environment, we wish to assure the regulators, the Exchange and members of the public, particularly the shareholders of the Bank that we will file necessary formal notifications and publish detailed announcements if and when we confirm and accept a formal offer from a significant investor”.

News continues after this Advertisement
News continues after this Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.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