ATLAS Mara Limited Statement re Atlas Mara Increases Stake in UBN (8499B)
January 15 2018 - 1:57AM
UK Regulatory
TIDMATMA
RNS Number : 8499B
ATLAS Mara Limited
15 January 2018
15 January 2018
Atlas Mara Increases Stake in Union Bank of Nigeria to 48.0%
Atlas Mara Limited ("Atlas Mara" or the "Company") announces
that, following completion of the previously announced rights
offering in Union Bank of Nigeria ("UBN"), Atlas Mara's aggregate
direct and indirect shareholding in UBN has increased from 44.5% to
48.0%. UBN completed a 49.7 billion Naira (approximately USD$163
million) rights offering on the Nigerian Stock Exchange at a price
of 4.10 Naira per share. Atlas Mara fully subscribed to the rights
related to its pre-existing 44.5% shareholding, and acquired
through the rights issue, additional shares representing a 3.5%
shareholding, at a combined cost of $75 million.
Bob Diamond, Chairman of the Board of Atlas Mara said: "We are
very pleased to have increased our stake in UBN at a time when
leading indicators for Nigeria's macroeconomic performance continue
to show improvement. We remain tremendously excited about the
prospects for UBN and committed to building a premier financial
services platform in Africa."
Contact Details
Investors
Kojo Dufu, +1 212 883 4330
Media
Teneo Blue Rubicon, +44 (20) 7260 2700
Anthony Silverman
About Atlas Mara
Atlas Mara Limited (LON: ATMA) is a financial services
institution listed on the London Stock Exchange. Its vision is to
create sub-Saharan Africa's premier financial services institution
through organic and inorganic growth by combining the best of
global institutional knowledge with extensive local insights. With
a presence in seven sub-Saharan Africa countries, Atlas Mara aims
to be a positive disruptive force in the markets in which we
operate by leveraging technology to provide innovative and
differentiated product offerings, excellent customer service and
accelerate financial inclusion in the countries in which the
Company operates. For more information, visit
www.atlasmara.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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