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Shareholders back GTBank’s planned HoldCo structure

The shareholders of Guaranty Trust Bank Plc. (GTBank) have approved the holding company (HoldCo) structure for the bank, as they expressed excitement over the benefits they would gain from the new structure.

 

The shareholders, in a statement yesterday, gave the approval to transfer 29,431,179,224 ordinary shares of 50 kobo each in the issued and paid-up share capital held by investors to Guaranty Trust Holding Company Plc.

 

This, in exchange for the allotment of 29,431,179,224 ordinary shares of 50 kobo each to the shareholders in the same proportion to their shareholding in the bank credited as fully paid without any further act or deed.

This came after a Court Ordered Meeting held on Friday, December 4, 2020. Sir Sunny Nwosu, Founder, Independent Shareholders’ Association of Nigeria (ISAN), spoke on behalf of members.

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