As the war for the manage of First Bank of Nigeria Holdings Plc intensifies, Oba Otudeko’s Honeywell Group remaining Thursday sold 4,770,269,843 stocks of the corporation in a pass deal really well worth N87.eight billion.
These stocks which Otudeko offered at N19 consistent with unit are the biggest quantity of First Bank stocks traded in a unmarried day because 2012, while the inventory trade commenced publishing data. The acquisitions takes his shareholding to fourteen percentage of the financial institution’s incredible marketplace value.
A “disclosure of shareholding” despatched to the Company Secretary, FBN Holdings Plc and dated July 7, 2023, with the aid of using Honeywell Group Limited stated: “We write on behalf of Barbican Capital Limited, an associate of Honeywell Group Limited and talk to the provisions of Sections 119 and one hundred twenty of the Companies and Allied Matters Act 2020 (as amended).
“In addition to the formerly disclosed pursuits via way of means of Honeywell Group Limited’s affiliates, kindly take this as notification that, as at seventh July 2023, Barbican Capital Limited has obtained an combination of 4,770,269,843 stocks in FBN Holdings Plc. Kindly be given the assurances of our maximum regards. Yours faithfully, Yewande Giwa Head, Governance & Sustainability.”
On the identical day, FBN Holdings Plc mentioned Honeywell Group Limited’s acquisitions. In a letter signed via way of means of Adewale Arogundade, Acting Company Secretary, it stated: “This is to tell the general public and our stakeholders that the Company acquired a notification dated July 7, 2023 from Honeywell Group Limited that its associate, Barbican Capital Limited has received an mixture of 4,770,269,843 devices of stocks from the Company’s issued percentage capital of 35,895,292,791, as on the above referenced date. Based at the foregoing, the fairness stake of Barbican Capital Limited withinside the Company is 13.3%.”
Otudeko, who turned into chairman of First Bank till 2019, is creating a fast comeback to end up the unmarried biggest shareholder of the financial institution.
Billionaire Femi Otedola have become the financial institution’s unmarried biggest shareholder in 2021 after a tussle with Hassan Odukale who turned into additionally vying for manipulate of the financial institution after a management hole emerged from Otudeko’s exit.
“Otudeko is flush with coins from the sale of Honeywell and is shopping for again the financial institution’s stocks via entities connected to him,” a supply acquainted with the problem said.
With Otudeko now main the struggle for the manipulate of First Bank of Nigeria Holdings Plc with 14 percentage shareholding, Otedola drops to 2nd with 9 percentage shareholding. Hassan Odukale and Mike Adenuga are joint third, every with seven percentage shareholding. Saheed Arisekole is fourth with 5 percentage shareholding.
Honeywell Group’s Barbican Capital Limited turned into included at the ninth of March 2023 – RC 6900918. Persons with large manage of the organization are Otudeko’s children – Oyeleye Foluke of Oladipo Diya Street, Abacha Estate, second Avenue, Ikoyi, Lagos and Otudeko Obafemi Adedamola of Mekunwen Street, Ikoyi, Lagos.
The 4,770,269,843 stocks offered have been moved from 26 unique accounts. They are Dogonyaro Investments Limited, Home Securities Limited, Skyview Estates Limited, Thames Investments & Sec Ltd, ESBI(WA) Limited, Fistful Securities Limited, Zanfara Packages, Row Park Limited, Edenvale Limited, Mansion House Limited, Bethlehem Properties Limited, Musa Haruna Foods, Yazidu Zakari Ventures Limited, Thornbull Securities Limited, Moore House Limited, Impressario Limited, Mahmoud Alheri Limited, Timothy Banfield Limited, The WhitBread Limited and Penrose Securities Limited.
Flour Mills, Nigeria’s largest miller with the aid of using marketplace value, snapped up Otudeko’s Honeywell Flour Mills Plc closing yr in a deal really well worth N82 billion.
