iDeemlawfulTrading in the shares of Access Bank Plc was suspended last Thursday, March 24 to prevent trading in the shares of the bank in preparation for the eventual delisting of Access Bank Plc from the daily official list of Nigerian Exchange Limited (the Exchange) and listing of the Holding Company, Access Holdings Plc, on the Exchange.
As a result of the new development, the entire 35,545,225,622 issued shares of Access Bank were delisted from the daily official list of Nigerian Exchange Limited (NGX) on Monday, while Access HoldCo’s entire issued share capital of 35,545,225,622 ordinary shares of 50 kobo each were on the same day, listed on the daily official list of NGX at N9.95 per share.
The delisting of Access Bank and listing of Access HoldCo on NGX is further to the scheme of arrangement between Access Bank Plc and the holders of its fully paid ordinary shares of 50 kobo each as approved by the Securities and Exchange Commission (SEC) and sanctioned by the court.
This means that Access Bank Plc will now be referred to as Access Holdings (Accesscorp) Plc to the investing community. Also, the shareholders of Access Bank Plc have approved a total dividend payment of N35.5 billion for the financial year ended December 31, 2021