Access Holdings Plc has called an Extraordinary General Meeting (EGM) for December 18, 2025, as the Board seeks shareholder approval to proceed with a ₦40 billion private placement aimed at strengthening the Group’s capital position and supporting its long-term growth strategy.
The virtual meeting will begin at 10:00 a.m. in line with provisions of the Business Facilitation Act, which permits electronic general meetings for public companies.
According to the notice signed by Company Secretary Sunday Ekwochi, the Board is requesting authorisation to raise up to ₦40 billion or an equivalent amount in foreign currency through a private placement to selected investors.
The capital raise is part of the Group’s broader balance sheet enhancement plan as a licensed financial holding company operating under Central Bank of Nigeria regulations.
To accommodate the proposed transaction, Access Holdings is also seeking approval to increase its issued share capital from ₦26.66 billion to ₦27.65 billion, through the creation of 1,975,308,641 new ordinary shares of 50 kobo each.
The new shares will rank equally with existing shares and may be allotted at ₦20.25 per share or any other price determined by the Board.
The directors will also be empowered to identify and negotiate with potential private placement investors, determine the structure and valuation of the offer, and appoint all necessary professional parties required for the execution of the transaction.
In addition, shareholders will vote to ratify all preliminary steps already taken by the Board in connection with the capital raise. If approved, the Board will proceed to secure regulatory clearances from the Central Bank of Nigeria, the Securities and Exchange Commission, and the Nigerian Exchange Limited.
The notice further states that the Company Secretary has been authorised to update the Corporate Affairs Commission records to reflect changes in share capital and amend the memorandum and articles of association accordingly.
Access Holdings also noted that its register of members will be closed on December 11, 2025, ahead of the EGM.
Shareholders unable to attend can appoint a proxy in accordance with regulatory requirements. Questions may be submitted in advance to the Group Company Secretariat no later than seven days before the meeting.
With this planned capital raise, Access Holdings aims to strengthen its funding base as it continues to expand across banking, lending, payments, insurance, and pensions under its multi-business financial services model.
