Mr. Herbert Wigwe, the Group Chief Executive Officer of Access Holdings Plc (NGX: ACCESSCORP) spent N1.57 billion in the month of June acquiring shares of the company.
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Regulatory fillings by the company on Friday and Tuesday showed that Mr. Wigwe through Tengen Hodings (Mauritius) Limited acquired 101.2 million units of shares of Access Holdings in two transactions.
On Tuesday, June 27, a notification filed with The NGX showed that Tengen Holdings bought 50 million shares at a price of N15.80 per share, totaling N762.50mn.
On Friday, June 30, the notifications filed by ACCESSCORP showed that Tengen bought 51.2 million shares at a price of N15.80 per share, totaling N808.96mn.
The consolidated and separate financial statements of the financial holding company for the 2022 financial year showed that Hebert Wigwe indirectly held 1,554,369,017 shares and directly held 201,231,713 shares of the company as at 31 December, 2022.
His direct and indirect shareholding totaled 1,755,600,730 representing 4.93% of the company’s 35.45 billion outstanding ordinary shares.
Wigwe’s indirect shares were held by United Alliance Company of Nig Ltd, Trust and Capital Limited, and Coronation Trustees Tengen Mauritius, each holding 537.73mn, 584.05mn and 432.57mn shares respectively.
Since the release of the financial statements, Mr. Wigwe has been acquiring large chunks of the company’s ordinary shares.
- On April 28, Tengen Holdings acquired 1,135,188,284 shares of ACCESSCORP at N10.00 per share.
- On May 10, Tengen also acquired 70,000,000 share at N11.55 per share.
- On May 12, a further 75,000,000 shares at N10.20 per share was acquired.
The total acquisitions since the release of the financial statements at the time of this report stood at 1,381,388,284 ordinary shares.
Herbert Wigwe’s total shareholding, direct and indirect now stands at 2,935,757,301 representing 4.82% stake in the company.
As at 31 December 2022, only Stanbic Nominees Nigeria Limited held more than 5% of ACCESSCORP’s ordinary shares, holding 3.91bn shares, 11.01% of the company’s outstanding shares.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
