Access Holdings Plc (BFX: ACCESSCORP) has announced an Extraordinary General Meeting (EGM) scheduled for December 18, 2025. The meeting, according to the official notice signed by Company Secretary Sunday Ekwochi, will be held virtually in line with the Business Facilitation Act to pass the following resolutions:
₦40bn Capital Raise Through Private Placement
At the centre of the resolutions is the Board’s request for shareholder approval to raise up to ₦40 billion through a private placement. This method of capital injection allows the company to issue new shares directly to selected institutional or high-net-worth investors, rather than to the public.
What is a Private Placement?
A private placement is a form of capital raising in which a company sells its shares or securities directly to a specific group of investors—such as pension funds, private equity firms, or high-net-worth individuals—instead of offering them to the general public.
Access Holdings intends to create 1.975 billion new ordinary shares at a proposed issue price of ₦20.25 per share, or any other price the Board later approves. These shares will rank pari passu with existing shares, meaning they will carry the same rights and privileges.
The share price of ACCESSCORP closed at N21 per share on the floor of the Nigerian Exchange on Thursday.
Share Capital to Increase
To facilitate the capital raise, the company is seeking approval to increase its issued share capital from ₦26.66 billion to ₦27.65 billion, representing the creation of nearly 2 billion additional shares. The Board may also cancel any unallotted shares or further increase the share capital if required to support future equity transactions.
Board Empowered to Select Investors and Finalise Terms
The proposed resolutions grant the Board wide authority to:
- Determine the structure and valuation of the private placement
- Finalise the list of potential investors
- Negotiate and approve all related agreements
- Appoint professional advisers
- Seek mandatory approvals from regulators including the CBN, SEC, and NGX
Shareholders are also being asked to ratify all steps previously taken by the Board in connection with the capital raise.
The company disclosed that the register of members will close on December 11, 2025, ahead of the EGM. Shareholders unable to attend may appoint proxies, while those wishing to submit questions can do so up to seven days before the meeting. The livestream link will be made available on the company’s website.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
