Access holdings awards 23.8million units of shares to senior executives

By Clement Alphonsus

Following the disclosure requirements of the Securities and Exchange Commission and the Nigerian Exchange Limited, Access Holdings Plc, has presented the award of 23.8 million ordinary shares to some of its senior executives and executives of Access Bank, its flagship subsidiary. This is in pursuant of the terms of its shareholders approved Employees Performance Share Plan.

The receivers of the shares include; The acting Group Chief Executive Officer of Access Holdings, Bolaji Agbede; the Managing Director/Chief Executive Officer of Access Bank, Roosevelt Ogbonna, and six others, each with 23,883,790 units of the group’s shares, worth a combined N427.13m.

This was revealed via notices duly filed with the Nigerian Exchange Limited. In the filings, Ogbonna got the highest amount of shares totalling 12,345,679 units, worth N220.37m, having been traded at N17.85 per share.

Agbedewas vested with 2,216,992 units of shares, valued at N39.795m.

Other directors, with the shares include SeyiKumapayi, Executive Director, African Subsidiaries, Access Bank, with 1,234,568 units, worth N22.16m; Iyabo Soji-Okusanya, Executive Director, Commercial and Investment Banking Division, Access Bank, with 1,691,308 units at N17.95 per share..

The shares were awarded to senior executives on May 3 and May 6. The vesting of the shares is not a purchase or sale transaction in the context of the exchange’s rules.