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

Business a.m. - - FINANCE & INVESTMENT -

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.

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