Access Holdings Plc has secured shareholder approval to raise ₦40 billion in fresh capital through a private placement, as the financial services group moves to strengthen its capital base and support future growth.
The approval was granted at an Extraordinary General Meeting (EGM) of the company held virtually on Thursday, December 18, 2025, in line with the provisions of the Companies and Allied Matters Act (CAMA) 2020 and relevant capital market regulations.
Under the resolution, shareholders authorised the board of directors to raise additional capital of up to ₦40 billion, or its foreign currency equivalent, through a private placement to selected investors on terms to be determined by the board.
As part of the exercise, shareholders also approved an increase in the company’s issued share capital from ₦26.66 billion to ₦27.65 billion. This will be achieved through the creation of 1.975 billion new ordinary shares of 50 kobo each, bringing the total number of issued shares to over 55.29 billion, as contained in the notice filed with the Nigerian Exchange Limited.
The board was further empowered to allot the new shares for ₦20.25 per share, or such other price as may be determined, in tranches and on conditions it considers appropriate.
In addition, directors were authorised to negotiate and finalise the list of private placement investors, determine the structure, valuation, and timeline of the transaction, and appoint professional advisers required to execute the deal.
The resolutions also mandate the board to obtain all necessary regulatory approvals, including those from the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and Nigerian Exchange Limited (NGX), while ensuring compliance with all applicable directives.
The company secretary was authorised to file the required post-transaction documentation with the Corporate Affairs Commission (CAC) and amend the company’s Memorandum and Articles of Association to reflect the new share capital structure.
Shareholders further ratified all actions already taken by the board in connection with the proposed capital raise.
The move underscores Access Holdings’ strategy to bolster its capital position amid evolving regulatory requirements and to position the group for expansion across its banking and non-banking subsidiaries.
