Transnational Corporation Plc (Transcorp) has informed the Nigerian Exchange Limited (NGX) and the investing public of the acquisition of new shares by HH Capital Limited.
Gatekeepers News reports that HH Capital Limited acquired 9,697,189,984 units of shares, bringing their total holdings in Transcorp to 9,991,173,177 units, representing 25.58% of the Company’s total shares.
HH Capital is a company (Special Purpose Vehicle) owned by billionaire investor Tony Elumelu and appears to be an acronym for Heirs Holdings, according to Nairametrics. The directors of the company are Tony Elumelu, Awele Vivien Elumelu, Obinna Ufudo (former MD/CEO of Transcorp Plc), Samuel Nwanze, and Matthew Isonanjo.
The statement by the company read in part: “In compliance with Chapter 17, Rule 17.13 of the NGX Issuers Rules, Transnational Corporation Plc (the Company) hereby informs the Nigerian Exchange Limited (NGX) and the investing public of the below new acquisition of shares in the Company. With this new acquisition, HH Capital Limited now holds a total of 9,991,173,177 units, representing 25.58% of the Company’s total shares.”
Transcorp Plc, in a press release posted on the website of the NGX, stated that HH Capital purchased 1,843,008,604 units @ N1.85 6,552, another 167,522 units @N2.45.
It also stated that purchases of 16,738,209 units @ N2.69, 1,039,399,057 units @N2.95, and 245,876,592 @various prices all totalling 9,697,189,979 were part of the transactions consummated between April 19 to April 25, 2023.
It is however not clear if UBA Nominees, which was the erstwhile majority shareholder of Transcorp Plc still retains its shareholding or if part of it was crossed to HH Capital Ltd.
Meanwhile, Femi Otedola, chairman of Geregu Power, has increased his interest in the conglomerate Transnational Corporation Plc (Transcorp) from 5.52 percent to 6.3 percent.
