UBA Nominees exits Ikeja Hotel, sells all stakes to OMA Investments

UBA NOMI NEES LTD., a subsidiary of United Bank for Africa (UBA) has sold its entire investments in Ikeja Hotels to OMA Investments Ltd.

This was disclosed by Olayiwola Osituwo, the compliance officer for Ikeja Hotel Plc in a statement released Friday to the Nigerian Stock Exchange (NSE), responding to rumours circulating on an alleged departure of a key shareholder of the company.

According to Osituwo, 279,104,878 shares of Ikeja Hotel Plc from UBA Nominees Ltd were purchased by OMA Investments thus increasing its stake in the company to about 26 percent.

“Ikeja Hotel Plc wishes to bring to the attention of the investing public, that we recently became aware of publications in various online media outlets of the possible departure of a key investor; due to a significant purchase of 279,110,328 shares valued at N572 million which was allegedly sold at a price of N2.05.

“We confirm that on November 16, 2018, one of the Company’s majority shareholders, OMA Investments Ltd., purchased 279,104,878 shares (Two Hundred and Seventy-Nine Million, One Hundred and Four Thousand, Eight Hundred and Seventy-Eight Shares) of Ikeja Hotel PLC from UBA Nominees Ltd.

Trading, with the consummation of this transaction, OMA Investments ‘Ltd’s total shareholdings in Ikeja Hotel Plc., is now 538,109,194 shares representing 25.89 percent.

Also, the resultant shareholdings of UBA Nominees Ltd., the selling shareholder in Ikeja Hotel PLC now amounts to zero shares,” the statement said.