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GTCO PLC Launches Public Offer To Raise N400.5Billion

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Guaranty Trust Holding Company plc (“GTCO PLC” or the “Issuer”) (NGX: GTCO) today announced the opening of its Offer for Subscription of 9,000,000,000 Ordinary Shares of 50 kobo each at N44.50 per Ordinary Share (the “Offer”) following the clearance of the Offer Prospectus and registration of the Offer Shares by the Securities and Exchange Commission, Nigeria (SEC Nigeria). Net proceeds of the Offer will be applied toward the recapitalisation of GTCO PLC’s principal banking subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria) as well as support Group-wide growth and expansion initiatives.

Application List for the Offer opens on Monday, July 15, 2024, and closes on Monday, August 12, 2024.

The Prospectus incorporating the Application Form is available in physical format at all GTBank Nigeria branches nationwide and in electronic format from www.gtcoplc.com. The Prospectus and Application Forms can also be obtained in physical and electronic formats at the offices and websites of the Issuing Houses to the Offer.

Issuing Houses:

  • Stanbic IBTC Capital Limited (Lead Issuing House).
  • ABSA Capital Markets Nigeria Limited.
  • FCMB Capital Markets Limited.
  • Vetiva Advisory Services Limited.

Websites:

  • stanbicibtccapital.com
  • cib.absa.africa
  • fcmbcapitalmarketsng.com
  • Vetiva.com

The Prospectus and Application Forms are also available from the Stockbrokers to the Offer and other Receiving Agents nationwide.

Commenting on the launch of the Public Offer, the Group Chief Executive Officer of Guaranty Trust Holding Company plc, Segun Agbaje, said: “This equity capital raise is timely and marks a significant milestone in our strategic plan to pivot the organisation for transformational growth across the Banking businesses in and outside Nigeria, and the non-banking businesses; differentiating it as a leading Financial Services Group in Africa. Over the last three years, we have diversified the earnings of the Group beyond pure banking play, through the creation of a Payments subsidiary and selective acquisitions in the Funds Management and Pension Fund Administration sectors; delivering exceptional value to our stakeholders whilst also enriching the lives of people in every community where we operate”.

GTCO is the most capitalised Banking stock on the Nigerian Stock Exchange and has consistently outperformed its peers in terms of key profitability indicators and other financial metrics. Widely regarded as a first-rate financial institution, GTCO’s leadership in the Nigerian financial services industry and continuing efforts at empowering people and communities across Africa has earned it many prestigious awards over the years.

Before subscribing, please read the Offer Prospectus and where in doubt, consult your stockbroker, fund/portfolio managers, accountant, banker, solicitor, tax consultant or an independent adviser registered by the SEC for guidance. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About GTCO PLC

Guaranty Trust Holding Company Plc is the ultimate holding company of the GTCOPLC Group.

The GTCOPLC Group is one of the largest financial services institutions in Africa. Headquartered in Lagos, Nigeria, Guaranty Trust Holding Company Plc maintains direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom. Within these regions, the operating entities provide a comprehensive range of commercial banking and related financial services to millions of retail, institutional, private banking and wealth management customers, in addition to asset management, pension fund administration and payment technology businesses.

More information on the Offer can be found at www.gtcoplc.com.

 

For enquiries, please contact:

Investor Relations:

+234 2012714580

[email protected]

BIG STORY

Popular Islamic Singer Ibraheem Labaeka Resigns As Kwara Governor’s Special Assistant

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  • Laments Collecting Salaries “For Doing Nothing”

 

Ibraheem Abdulhameed, popularly known as Labaeka, has formally resigned as Special Assistant, Artiste to Kwara State Governor AbdulRahman AbdulRazaq.

Abdulhameed’s resignation was confirmed in a letter dated September 12, 2023.

In the letter, he expressed frustration with his role, citing the lack of a clear schedule of duties and inadequate opportunities to fulfill his responsibilities.

“I cannot continue to break that trust by taking a salary for doing nothing,” he wrote, signalling his disappointment with the lack of clarity surrounding his position.

The letter reads, “I am writing this letter with all sense of humility and gratitude for giving me the opportunity to serve as the Special Assistant, Artiste, in your cabinet.

“Having served in this capacity for a period of 1 year and 7 months, I wish to respectfully tender my resignation.”

He continues, “Your Excellency, as you may recall, I was offered an appointment to serve as your Special Assistant, Artist, on 6th January 2023. I accepted the offer because I saw it as a call to service and an opportunity to showcase my talents.

“Regrettably, I have not been able to achieve any of these things. Aside from the fact that I don’t have a specific schedule of duty, circumstances have not availed me the opportunity to perform my responsibilities maximally.”

He added “since my appointment is based on public trust, I cannot continue to break that trust by taking a salary, for doing nothing”.

“As an Islamic cleric. it is against my beliefs, and I haven’t been at peace with myself. So, I want my salary to be stopped immediately,” he said.

“I am grateful for the confidence reposed in me, and I hope that one day, I will be able to fully utilize my talents for the development of our state.”

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BIG STORY

King Charles III Receives President Tinubu At Buckingham Palace

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In a historic meeting, King Charles III welcomed Nigerian President Bola Ahmed Tinubu to Buckingham Palace in London on September 11.

The Royal Family announced the meeting on its verified X handle, @RoyalFamily, stating, “Yesterday, The President of the Federal Republic of Nigeria visited His Majesty at Buckingham Palace.”

This significant encounter marks a milestone in UK-Nigeria diplomatic relations, with the two leaders discussing matters of mutual interest and importance.

While specific details of the meeting remain undisclosed, it is anticipated that key issues such as trade, security, and bilateral cooperation were addressed.

President Tinubu’s visit to Buckingham Palace underscores the strong ties between Nigeria and the UK, as both countries continue to foster a strong and lasting relationship.

According to another tweet on his verified X handle, Special Adviser to the President on Information and Strategy, Bayo Onanuga, recalled that Wednesday’s meeting was the second between both leaders in the last one year.

“President Tinubu visits King Charles in London. They first met in Dubai last November, on the sideline of the COP 28 Climate Summit”, Onanuga said.

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BIG STORY

Husband Dismembers, Blends 38-Yr-Old Model With Blender In Switzerland

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Kristina Joksimovic, a 38-year-old former Miss Switzerland finalist, was allegedly strangled and dismembered by her 41-year-old husband.

According to reports, the husband used a jigsaw and garden shears to dismember Joksimovic, and then allegedly pureed her remains in a blender, as stated by the Daily Mail.

The couple, who married in 2017, resided in a spacious semi-detached house in an affluent area of Basel, and had two children together.

Kristina’s body was found in February in Binningen, near Basel, Switzerland.

Kristina had posted pictures of a ‘couple’s getaway’ on her Instagram account four weeks before her death.

Her husband, identified only by the pseudonym Thomas in local media, had his appeal for release from custody rejected on Thursday by the Federal Court in Lausanne after admitting to killing his wife.

An ongoing investigation has revealed ‘concrete indications of mental illness’ underlying the case.

Kristina’s husband is reported to have claimed he killed her in self-defence after she allegedly came at him with a knife, before later admitting he dismembered the former model.

Kristina’s body was found on the evening of February 13.

Investigators determined she had been strangled before dying.

The verdict states the suspect confessed to strangling his wife.

An autopsy concluded that the body was then dismembered in the laundry room with a jigsaw, knife, and garden shears.

Body parts were then chopped up with a hand blender, ‘pureed’, and dissolved in a chemical solution, local outlet Blick reported.

A medical-forensic report also ‘contradicts his description of self-defence’, according to Swiss outlet FM1 Today.

Thomas, a Swiss national, was reportedly arrested a day after her remains were found.

Investigators have said Thomas, a businessman, displayed a ‘conspicuously high level of criminal energy’ in their assessment.

They cited a ‘lack of empathy and cold-bloodedness after killing his wife’, and his efforts to cover up her death, adding that the defendant exhibited ‘sadistic-sociopathic traits’.

The deceased won the Miss Northwest Switzerland pageant in 2003 and was a finalist in the 2008 Miss Switzerland competition.

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