Skip to content

Ova News NG

Ova News NG feed V2

Primary Menu
  • HOME
  • NEWS
  • ENTERTAINMENT
  • SPORTS
  • POLITICS
  • WORLD NEWS
  • LIVE FOOTBALL SCORES
  • Home
  • NEWS
  • Fidelity Bank Secures Shareholders Approval To Increase Share Capital To N36.7bn
  • NEWS

Fidelity Bank Secures Shareholders Approval To Increase Share Capital To N36.7bn

ovanews 5 months ago 2 min read
Share:

Fidelity Bank Plc has secured shareholder approval to increase its issued share capital from N26.7bn to N36.7bn, marking a significant step in its strategic expansion plans.

The decision was made during the bank’s Extraordinary General Meeting, which was held virtually on February 6, 2025 according to a notice to the Nigerian Exchange Limited seen by THE WHISTLER.

Under the approved resolutions, the bank will create an additional 20 billion ordinary shares of 50 kobo each, ensuring that the newly issued shares rank pari passu with existing shares. The Board of Directors has also been granted authority to adjust the share capital as necessary to facilitate future capital-raising transactions.

In addition to the share capital increase, shareholders authorized the Board to raise additional capital through various methods, including private placements, rights issues, and public offers, subject to regulatory approvals.

The capital-raising initiative may be underwritten under terms set by the Board.

To support its growth objectives, the bank received approval to issue up to 20 billion ordinary shares, not exceeding 30 per cent of its existing issued shares and paid-up capital, through private placements. These placements will be carried out in compliance with regulatory requirements, and the shares will be listed on the Nigerian Exchange Limited to maintain liquidity and transparency.

As part of the corporate restructuring, shareholders approved amendments to Clause six of the Memorandum of Association and Clause five of the Articles of Association to reflect the newly approved share capital.

The revised Memorandum and Articles of Association, as presented during the meeting, were formally adopted.

To ensure a smooth execution of these resolutions, the Board has been authorized to take necessary steps, including engaging professional advisers, securing regulatory approvals from the Securities and Exchange Commission, the Central Bank of Nigeria, and the Corporate Affairs Commission, and fulfilling all required filings and compliance directives.

Fidelity Bank Secures Shareholders Approval To Increase Share Capital To N36.7bn is first published on The Whistler Newspaper

Facebook Comments Box
Share:

Related:

  • cropped-fb_img_15824808200841041-1.jpg
    Only Peter Obi Can Defeat Tinubu In 2027— Yunusa Tanko
    NEWS
  • Oando Eyes Growth With Newly Acquired Assets
    Oando Eyes Growth With Newly Acquired Assets
    NEWS
  • Imo’s poor VAT performance sign of irrelevant economic policies – PDP
    Imo’s poor VAT performance sign of irrelevant…
    SPORTS
  • cropped-fb_img_15824808200841041-1.jpg
    NPFL Approves Insurance Scheme For Players, Officials
    NEWS
  • UBA Chairman Tony Elumelu Expands Ownership with N43.9bn Worth of Shares 
    UBA Chairman Tony Elumelu Expands Ownership with…
    NEWS

Continue Reading

Previous: I did it for the culture – Kendrick Lamar says on making Drake diss ‘Not Like Us’
Next: Rivers Commissioner Slams Owners Of Gas Stations For Ignoring Approvals
  • Recent
  • Peter Obi vows not to serve as Petroleum Minister if elected in 2027
    • NEWS

    Peter Obi vows not to serve as Petroleum Minister if elected in 2027

  • Cassano urges Napoli to Sign Ademola Lookman
    • NEWS

    Cassano urges Napoli to Sign Ademola Lookman

  • Kun Khalifat FC coach Uzoho explains defensive approach in victory over Crown FC
    • NEWS

    Kun Khalifat FC coach Uzoho explains defensive approach in victory over Crown FC

  • Doma United chairman urges players to secure win against Yobe Desert Stars
    • NEWS

    Doma United chairman urges players to secure win against Yobe Desert Stars

  • Kano governor appoints Emir of Lafia as Chancellor of Northwest university
    • NEWS

    Kano governor appoints Emir of Lafia as Chancellor of Northwest university

  • I’m afraid of returning to Liverpool – Salah reacts to Jota’s death
    • SPORTS

    I’m afraid of returning to Liverpool – Salah reacts to Jota’s death

  • Reekado Banks raises concerns over music executive exploiting upcoming artists
    • ENTERTAINMENT

    Reekado Banks raises concerns over music executive exploiting upcoming artists

  • Breaking: Court Convicts Natasha Uduaghan Of Contempt, Ordered To Pay N5m
    • NEWS

    Breaking: Court Convicts Natasha Uduaghan Of Contempt, Ordered To Pay N5m

  • I’m no longer sure of marrying my babymama – Singer Reekado Banks makes U-turn
    • ENTERTAINMENT

    I’m no longer sure of marrying my babymama – Singer Reekado Banks makes U-turn

  • Breaking: Court Orders Senate To Recall Suspended Senator Natasha
    • NEWS

    Breaking: Court Orders Senate To Recall Suspended Senator Natasha

  • Peter Obi vows not to serve as Petroleum Minister if elected in 2027
    • NEWS

    Peter Obi vows not to serve as Petroleum Minister if elected in 2027

  • Cassano urges Napoli to Sign Ademola Lookman
    • NEWS

    Cassano urges Napoli to Sign Ademola Lookman

  • Kun Khalifat FC coach Uzoho explains defensive approach in victory over Crown FC
    • NEWS

    Kun Khalifat FC coach Uzoho explains defensive approach in victory over Crown FC

  • Doma United chairman urges players to secure win against Yobe Desert Stars
    • NEWS

    Doma United chairman urges players to secure win against Yobe Desert Stars

  • Kano governor appoints Emir of Lafia as Chancellor of Northwest university
    • NEWS

    Kano governor appoints Emir of Lafia as Chancellor of Northwest university

SECTIONS

  • ENTERTAINMENT
  • NEWS
  • POLITICS
  • SPORTS
  • WORLD NEWS

Get all Latest Ova News Feeds on the Go! 👋

Sign up to receive all Our latest News content Recap in your inbox every weekend.

We don’t spam! Read our privacy policy for more info.

Check your inbox or spam folder to confirm your subscription.

Quick Links

  • News
  • Entertainment
  • Live Football Scores
  • Premier League Scores

Legal

  • Terms of Use
  • Privacy Policy

Connect with Us

  • Contact Us
  • Advertise
Copyright © 2025 Ova News Network | Created by Ben Ova O. | All Rights Reserved.
pixel