First HoldCo Denies Share Sale Claims

First HoldCo Denies Share Sale Claims

First HoldCo Plc has debunked reports in certain media outlets about the sale and ownership of its shares in a recent off-market transaction.

The clarification relates to ownership of shares exchanged in the reported off-market deal that has drawn public speculation.

In a disclosure to the Nigerian Exchange Ltd., the company said some media outlets wrongly claimed that Mr Femi Otedola or the Federal Government purchased the shares.

First HoldCo clarified that Barbican Capital Ltd. and its affiliates, as well as Leadway Group and its affiliates, were the actual sellers.

RC Investment Management Ltd. was identified as the sole buyer of the shares involved in the transaction.

The firm urged the public and stakeholders to ignore the rumours and depend only on its official communications for verified information.

The firm said: “First HoldCo Plc’s attention has been drawn to media rumours regarding recent share sales involving the company.

“We affirm that the Chairman, Mr Femi Otedola, did not purchase the shares in question, nor did the Federal Government or any of its agencies.

“The shares were sold by Barbican Capital Ltd. and affiliates, and Leadway Group and affiliates. The buyer was RC Investment Management Ltd.” #First HoldCo Denies Share Sale Claims#

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