Access holdings vests 23.8million units of shares on senior executives

In line with the disclosure requirements of the Securities and Exchange Commission and the Nigerian Exchange Limited, Access Holdings Plc, has announced 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 acting Group Chief Executive Officer of Access Holdings, Bolaji Agbede; the Managing Director/Chief Executive Officer of Access Bank, Roosevelt Ogbonna, and six others were vested with 23,883,790 units of the group’s shares, worth a combined N427.13m.

This was disclosed via notices duly filed with the Nigerian Exchange Limited.According to 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, who had shares vested on them 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.

Her vested shares are valued at N30.36m, and ChizomaOkoli, Access Bank’s Deputy Managing Director, Retail South, who got 1,728,395 units valued at N30.85m.

Also, Dr Gregory Jobome, Executive Director, Risk Management, and HadizaAmbursa, Executive Director, Commercial Banking, were each vested with 1,728,395 valued at N30.85mand N31.02m respectively. Access Holdings’ Company Secretary, Sunday Ekwochi, was vested with 1,210,058 units of the Group’s shares worth N21.72m.

The shares were vested 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.

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