Access Holdings Plc has secured shareholder approval to raise up to ₦40 billion in additional capital through a private placement following resolutions passed at its Extraordinary General Meeting (EGM) held on Thursday, December 18, 2025.
The EGM was conducted virtually and hosted from the company’s head office in Lagos.
Shareholders approved a series of special resolutions authorising the Board of Directors to undertake the capital raise in compliance with the Companies and Allied Matters Act 2020, the Investments and Securities Act 2025, the Nigerian Exchange Limited Rulebook, and applicable Central Bank of Nigeria regulations governing financial holding companies.
As part of the approved resolutions, shareholders authorised an increase in the company’s issued share capital from ₦26.66 billion, divided into 53.32 billion ordinary shares of 50 kobo each, to ₦27.65 billion, divided into 55.29 billion ordinary shares of 50 kobo each.
The increase will be achieved through the creation of 1.98 billion new ordinary shares, which will rank pari passu with existing shares.
The Board has been empowered to allot the newly created shares at a price of ₦20.25 per share, or at such other price as may be determined, to one or more investors under the private placement arrangement.
The approval also allows the Board to structure the transaction in tranches, determine valuation and timing, and cancel any unallotted shares where necessary.
Shareholders further authorised the Board to engage professional advisers, negotiate and execute all required documentation, and obtain regulatory approvals from the CBN, Securities and Exchange Commission, and Nigerian Exchange Limited to give effect to the transaction.
The Company Secretary was also mandated to effect the required filings at the Corporate Affairs Commission, including amendments to the company’s Memorandum and Articles of Association.
The resolutions also ratified all actions already taken by the Board in connection with the proposed capital raise.
Access Holdings Plc said the private placement forms part of its broader capital management strategy as the group continues to strengthen its balance sheet and support its growth objectives across its banking and non-banking subsidiaries.