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Access Holdings Plc (“the Group”) has announced a significant extension to the acceptance period for its current Rights Issue. Originally scheduled to close on August 14, 2024, the deadline has been extended to August 23, 2024, following approval from the Securities & Exchange Commission (SEC).
This decision, communicated by the Group’s Company Secretary, Sunday Ekwochi, is a direct response to recent nationwide protests that have disrupted business operations across Nigeria. The extension aims to afford shareholders additional time to subscribe to their allocated rights amidst these challenging conditions.
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Ekwochi elaborated, “The extension of the acceptance period is designed to ensure that all shareholders have sufficient opportunity to participate in the Rights Issue. We recognize the impact that the recent unrest has had on our stakeholders and wish to provide a fair chance for all involved.”
Furthermore, during this extended acceptance period, transactions involving the Company’s shares by its insiders will remain strictly regulated. They are permitted only to participate in the Rights Issue as previously authorized by the Exchange, adhering to the Non-Dealing Period stipulated in connection with the Company’s Audited Interim Financial Statements for the period ended June 30, 2024. This restriction will be in effect until 24 hours following the publication of the Interim Financial Statements.
