Lagos, May 25, 2023 – HH Capital Limited has acquired additional 19.338,220 million shares worth N162.44 million in UBA.
HH Capital Limited is owned by Tony Elumelu, the Chairman of the Board of UBA.
This was disclosed by a notice of shares dealing on the Nigerian Exchange Limited.
The acquisition of 19,338,220 million shares represents 0.06% of the company’s total outstanding shares of the company.
With the acquisition, HH Capital has increased its number of shares from 140,843,816 units of shares as of December 31, 2022, to 230,182, 036 units.
HH Capital Limited has earlier acquired 70 million shares worth N560 million in UBA, representing 0.2% of the company’s total outstanding shares of the company.
Elumelu’s indirect holdings now stand at 2,275,272,404 units of shares, from 2,185,934,184 as of December 31, 2022, while his direct holdings remained at 194,669,555 units of shares.
The notice signed by Bili A. Odum, Group Company Secretary/Legal Counsel, indicated that HH Capital Limited on May 24th, 2023, purchased 19,338,220 units of UBA Plc at an average price of N8.40 per share valued at N162,441,048 million.
According to details of the transactions made available by NGX Limited, Elumelu owns the investment as an indirect shareholding through HH Capital Limited.
Elumelu is the largest shareholder in UBA with his shares accounting for about 7.22% of UBA’s total shareholding structure.
UBA recorded N201 billion as profit before tax in 2022. (GBN)
