HH Capital Limited has acquired 1,493,477,786 ordinary shares of Transnational Corporation Plc at a weighted average price of N3.12k per share, increasing its direct and indirect cumulative shareholdings (including related parties like Tony O. Elumelu CFR, Dr. Awele Vivien Elumelu OFR, and Heirs Holdings Limited) to 35.94% of Transcorp’s share capital.
This acquisition has triggered the mandatory tender offer requirements under the Investment and Securities Act, 2007, and the Securities and Exchange Commission (SEC) Rules and Regulations, 2013.
According to the notification signed by the Group Company Secretary Atinuke Kolade, the statement reads: “Following this development, we wish to announce to the Nigerian Exchange Limited and the general public that HH Capital has obtained the necessary approvals from the Securities and Exchange Commission to make the tender offer of up to 2,032,399 fully paid and issued ordinary shares equivalent to 0.02% of the issued and fully paid ordinary shares in Transcorp to other shareholders at 0.25% premium to the opening price of the ordinary shares of Transcorp as of the opening date, for each unit of ordinary shares tendered”.
This aligns with HH Capital’s disclosure obligations and reinforces its commitment to regulatory compliance.
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