Access Bank CEO Drops N297m Shares
UMORU ABDULKADIR
The Chief Executive Officer, Access Bank Plc, Mr Herbert Wigwe, Tuesday, relinquished an additional 2.33 per cent of his shareholding in the bank by selling shares worth N297m.
The bank disclosed this in a notification statement filed to the Nigerian Stock Exchange (NSE) Tuesday, January 21, 2020.
According to the statement, the bank CEO, through Trust Capital Limited, sold 28.86 million shares worth N297.82m having already sold out 55.6 million ordinary shares, representing 4.48 per cent of his stake in the bank on Friday.
In a notification of Insider Dealing filed at the NSE on Friday, the bank stated that its CEO sold 55.6 million shares ordinary shares, which he held indirectly. The statement added that as of April 2019, the CEO held a total of 1.24 billion indirect shares.
The indirect shares were made up of 537.73 million shares owned by United Alliance Company of Nigeria Limited and 702.56 million shares owned by Trust and Capital Limited.
The statement said the 55.6 million shares sold were from Wigwe’s indirect holding through Trust and Capital Limited
It noted that the number of shares sold was an aggregation of sales made on four different instances ― 3.61 million shares on January 10, 20.14 million shares on January 13, 9.24 million shares on January 14 and 22.63 million shares on January 15, 2020.
Wigwe sold the shares at a price of N10.80 on January 10, N10.70 on January 13, N10.56 on January 14 and N10.22 on January 15, 2020.
He owns 201.23 million shares directly and 1.24 billion shares indirectly, giving him the highest stake in the bank more than of the 15 members of Access Bank’s board of directors.
The additional 28.86 million shares were sold at N10.32 on January 16, 2020.
Comments are closed.