Punch Metro
  • Home
  • Banditry
  • Boko Haram
  • City news
  • Crime
  • Insurgency
  • IPOB
  • Police brutality
  • Sports
  • Video
  • Sports
No Result
View All Result
  • Home
  • Banditry
  • Boko Haram
  • City news
  • Crime
  • Insurgency
  • IPOB
  • Police brutality
  • Sports
  • Video
  • Sports
No Result
View All Result
Punch Metro
Home News

Titan Trust completes takeover of Union Bank 

by Marcus Amudipe
June 2, 2022
in News
Reading Time: 1 min read
0
Titan Trust completes takeover of Union Bank 
Share on FacebookShare on Twitter

You might also like

Naira/fuel crisis: Soldiers shoot, kill Ibadan protester

Building collapse: Arrest FHA officials, developer, Minister orders police

2023: Yobe declares holiday for students

Union Bank Plc has announced the completion of core investors’ sale of a majority shareholding to Titan Trust Bank Limited, a subsidiary of TGI Group.

The bank also announced board changes that resulted from the resignation and subsequent retirement of the Directors from the Board of Union Bank and the appointment of new directors.

According to a statement signed by bank’s company secretary, Somuyiwa Sonubi, he stated, “Following Union Bank of Nigeria Plc’s notification in December 2021 of the execution of a Share Sale and Purchase Agreement between the Bank’s majority shareholders – Union Global Partners Limited, Atlas Mara Limited, et al. – and Titan Trust Bank Limited, and the subsequent receipt of all necessary regulatory approvals, Union Bank hereby notifies Nigerian Exchange Limited, the Securities & Exchange Commission and members of the public of the completion of the transaction under the SSPA, which effectively transfers 93.41% of Union Bank’s issued share capital to TTB.

“Consequently, in compliance with NGX, Rulebook and the Amendments to the Listing Rules, Union Bank hereby notifies NGX, our esteemed stakeholders and the investing public of the following: ‘Union Bank hereby notifies NGX that with the completion of the transaction, TGI Group, parent of TTB, now becomes the majority shareholder and core investor in Union Bank.

“Union Bank hereby notifies NGX of the completion of the divestment of the Bank’s entire shareholding interest (direct and indirect) in its subsidiary, Union Bank (UK) Plc (“UBUK”), to all the shareholders in the Bank’s records as of 4th March 2022, pro rata to their existing shareholding interests in the Bank. Consequently, UBUK is not included in the transaction with Titan Trust Bank”.

Tags: Union Bank

Recommended For You

Ibadan protest soldier naira fuel scarcity

Naira/fuel crisis: Soldiers shoot, kill Ibadan protester

February 4, 2023
Building collapse: Arrest FHA officials, developer, Minister orders

Building collapse: Arrest FHA officials, developer, Minister orders police

February 4, 2023
2023: Yobe declares holiday for students

2023: Yobe declares holiday for students

February 4, 2023
Akeredolu swears in Odusola as Ondo's 12th chief judge

Akeredolu swears in Odusola as Ondo’s 12th chief judge

February 4, 2023
New naira: Sanwo-Olu urges Lagosians to stay calm

New naira: Sanwo-Olu urges Lagosians to stay calm

February 4, 2023
Yakubu Gowon

NYSC trust fund to enhance SAED training – Gowon

February 3, 2023
Next Post
Nigerians seek justice for lady assaulted at Eko Hotels

Nigerians seek justice for lady assaulted at Eko Hotels

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Home
  • Banditry
  • Boko Haram
  • City news
  • Crime
  • Insurgency
  • IPOB
  • Police brutality
  • Sports
  • Video
  • Sports

© 2023 punch metro

No Result
View All Result
  • Home
  • Banditry
  • Big Cities
  • Boko Haram
  • Celeb
  • City news
  • City Rounds
  • Commuting
  • Courts
  • Crime
  • Gunmen
  • Cultism
  • Customs
  • Farmers-herders clashes
  • Fraud
  • Gambling
  • Grassroots
  • Insurgency
  • IPOB
    • Sit-at-Home
  • Landlord and tenants
  • Markets
  • Movies
  • NCDSC
  • News
  • Personal Finance
  • Podcast
  • Police
  • Police brutality
  • Recharge Card
  • Renting
  • Ritual killings/kidnappings
  • Showbiz
  • Sports
  • Trending
  • Video

© 2023 punch metro

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?