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Access Holdings Plc Receives SEC Approval for N351 Billion Rights Issue

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Lagos, Nigeria – July 8, 2024
- Access Holdings Plc, one of Africa’s premier financial services groups, has announced that it has secured approval from the Securities and Exchange Commission (SEC) for its N351 billion Rights Issue, marking a pivotal advancement in its Capital Raising Programme. This initiative is set to raise up to US$1.5 billion and aims to strengthen the Group’s financial stability and support its ongoing working capital requirements. Additionally, the funds will facilitate organic growth across Access Holdings’ banking and non-banking subsidiaries.

The approved Rights Issue comprises 17,772,612,811 ordinary shares of N0.50 each, priced at N19.75 per share. The offer will be available on the basis of one new ordinary share for every two existing ordinary shares held as of Friday, June 7, 2024. Chapel Hill Denham Advisory Limited will act as the lead issuing house for the Rights Issue, with Atlas Registrars Limited serving as the Registrars to the Offer.

The offer period will commence on Monday, July 8, 2024, and close on Wednesday, August 14, 2024. Shareholders will receive the Rights Circular from Atlas Registrars Limited, and application forms will be accessible on the following websites:

1. www.theaccesscorporation.com

2. www.chapelhilldenham.com

3. www.coronationmb.com

4. www.atlasregistrars.com

Shareholders are encouraged to contact their stockbrokers for further details regarding the Offer.

Access Holdings remains steadfast in its strategic vision to expand its reach and deliver exceptional value to all stakeholders. The successful completion of this Rights Issue will further reinforce the Group’s standing as a leading financial services provider in Africa and beyond.

About Access Holdings Plc

Access Holdings Plc is a prominent multinational financial services group headquartered in Lagos, Nigeria. It offers a wide range of services, including commercial banking, lending, payment solutions, insurance, and asset management. With a network of over 700 branches and service outlets, Access Holdings operates across three continents, 22 countries, and serves over 60 million customers.

Established in 2022, Access Holdings Plc encompasses the Access Bank Group, Access Pensions, a Payment and Switching Services Company, a Digital Lending Company, and an Insurance Brokerage Company.

For more information, please visit [www.theaccesscorporation.com](http://www.theaccesscorporation.com).

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