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| Chidi Agbapu, Nneka Onyeali-Ikpe, Mustafa Chike-Obi, Ezinwa Unuigboje. |
Leading financial institution, Fidelity Bank Plc, has secured the approval of its shareholders to issue, by way of private placement, the unissued ordinary shares of the Bank.
This
was approved at the Bank’s Extra-Ordinary
General Meeting (EGM) which held at
Four Points by Sheraton Hotel, Victoria Island, Lagos on Thursday, 29 September
2022.
Addressing
shareholders at the event which had the representatives
of various regulators in attendance
including the Central Bank of Nigeria, Nigeria Exchange Group,
Securities and Exchange Commission and Corporate
Affairs Commission, Mustafa Chike-Obi, Chairman, Fidelity
Bank Plc, said the EGM was called to
ensure the Bank complies with Section 124
of the Companies and Allied Matters Act, 2020 (CAMA) and Regulation
13 of the Companies Regulations 2021 which require companies with unissued shares at the time of commencement
of CAMA 2020 to issue such shares by December 31, 2022.
“After
considering the options, the Board resolved that the Company’s outstanding
3,037,414,308 unissued Ordinary Shares of 50Kobo each should be disposed of by
way of Private Placement to strategic investors to enable the Bank generate additional capital for continued
growth in line with its objectives” explained
Chike-Obi.
“Fidelity Bank is growing in leaps and bounds and we need
to expand our capital base to take advantage of emerging opportunities.
We will also use the additional
capital to enhance our technology
infrastructure to enable us serve more customers”, explained Nneka
Onyeali-Ikpe, Managing Director/Chief Executive Officer of the Bank.
It
would be recalled that the Bank recently
paid an interim dividend of 10 Kobo per 50 Kobo ordinary share, the first interim dividend payment in the Bank’s 34 year
history, on the back of its remarkable H1 2022 results.
Fidelity
Bank is a full-fledged commercial bank operating in Nigeria with over 7 million
customers serviced across 250 business offices and digital banking channels.
The Bank was recently recognized as the
Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards.
The Bank also won the awards for “Fastest
Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at
the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
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