Access Bank vests 24.8 million units of Shares Top Executives, Subsidiaries

In furtherance of the disclosure requirements of Security and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX), Access Holdings Plc, Africa’s leading Group, has announced the vesting of 23.8 million ordinary shares on some of its senior executives and the arrow- heads of its subsidiaries .

This was in accordance with terms of shareholders approved Employees Performance plan.

The Acting Group Managing Director and Chief Executive Officer, Bolaji Agbede of Access Holdings, Managing Director and Chief Executive of Access Bank, Roosevelt Ogbonna and six other top officers were awarded 23,883,790 units of the group’s shares, worth a combined N427.13 million.
This was vide the notices duly filed with the the NGX limited, Tuesday in Lagos.

Based on the fillings, Ogbonna got the highest number of shares totaling 12,345,679 worth N220.37million traded at N17.85 per share.
In the same vein, Agbede chalked up N39.795million from the 2,216,982 units of shares.

Other directors who benefit from the share award include Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank with 1 234 568 worth N22.16million; Iyabo Soji-Okusanya, Executive Director, Commercial and Investment Banking Division ,Access Bank 1, 691,308 at N17.95 per share valued at N30.36 million and Chizoma Okoli, Access Banks DMD , Retail South 1,729,395 units valued at.N30.85.

Similarly, the Executive Director, Risk Management, Dr Gregory Jobome and Executive Director Commercial Banking, Hadiza Ambursa; were awarded 1,728,385 valued at N30.85,and N31.02million respectively.

Also Access Holdings’ Company Secretary, Sunday Ekwochi got 1,210,058 units of the Group’s shares valued at N21.72m.

Going by the SEC rules, the vesting of is not a purchase or sale transaction.