Mr. Otedola Olufemi has recently acquired additional 200,000 volumes of shares at an aggregate price of N11.52 per share. This was notified by First Bank Holdings through the Nigerian Exchange Limited as is required by the NGX for quoted companies to notify the exchange and investing public of insider dealings.
Mr. Otedola, a Nigerian billionaire has been given the status of a significant shareholder following his purchase of the Tier-1 bank’s shares sometime in October which triggered enormous increase in the bank’s share price before it was revealed that the billionaire was behind the purchase of the shares.
At the time, First Bank Holdings Plc released a notice to inform investors of the newest significant shareholder of the group.
In a disclosure filed by the group on October 27th, 2021 titled “Update on Substantial shareholders of FBN Holdings Plc, Mr. Olufemi Peter Otedola was listed as a substantial shareholder with 5.07% of the total shareholdings, translating to 10,000,000 units of shares directly held and 1,808,551,625 units of shares held indirectly under Calvados Global Limited.
However, Nairametrics had earlier reported that in a letter addressed to the bank, Mr. Otedola acquired the additional shares through his proxies Calvados Global Services, Primose Global Concept, Shetland Global, Wells Properties, and Impetus Synergy. In the letter, Mr. Otedola informed the bank that he has now acquired 7.57% ownership in the bank “I have recently acquired additional shares in FBN Holdings Plc (the Company) which has brought my total stake to 7.57% percent of the issued shares capital of the Company.”
Bitcoin crash: what HOLDERs are saying
Generally, there have been mixed reactions online to the price crash, with dedicated stakeholders being more bullish the price will rise noting that there have been further flash crashes, others note that the price could drop even further.
FG says Lagos Marine Bridge rehabilitation is 66% complete
The Federal Government, on Saturday, January 22, revealed that the ongoing rehabilitation works on the Marine Bridge Apapa, Lagos, is at 66% completion stage.
According to NAN, this was made known by the Federal Controller of Works in Lagos State, Mr Olukayode Popoola, during an interview, where he said that the rehabilitation of the bridge was being done in phases.
Popoola said that 24 expansion joints and 120 bearings had been replaced in previous phases adding that the new phase of rehabilitation works that began on Monday, will have 40 additional bearings and 6 expansion joints being replaced.
What the Federal Controller of Works is saying
Popoola during the interview said, “For this particular section that we just closed, we are going to replace 40 bearings and six numbers expansion joints. Previously, we have changed 120 bearings and 24 number expansion joints. The repair is a carryover from last year.
“The contract was awarded in September 2019, and the contractor started work in October, 2019 with the rehabilitation of failed sections of the bridge. The contractor has achieved 66.19 per cent completion and so far.
“Repair works have been carried out on two sections of the bridge with the replacement of 120 bearings, 24 expansion joints and the resurfacing of 610m of asphalt.
“The partial closure of the bridge on Monday is to allow the contractor rehabilitate the damaged section, which will involve the replacement of 40 bearings and six number expansion joints.’’
Popoola explained that the repair works in the new phase would be completed by April 2022.
He appealed to motorists to obey traffic regulations around the construction zone where traffic was partially diverted to avert gridlock.
In case you missed it
Recall that a few days ago, the Lagos State Government announced that it will partially close the Marine Bridge from Monday, January 17 to Saturday, April 2, 2022, for emergency repair works on the infrastructure.
The government stated that the partial closure was to allow the Federal Government carry out routine maintenance works on the bridge infrastructure.
The rehabilitation work on Marine Bridge first began on September 29, 2021, with the diversion of traffic for a period of 12 weeks to allow the Federal Government commence emergency repair works on different sections of the bridge.
... FG says Lagos Marine Bridge rehabilitation is 66% complete Read More on ... Nairametrics.