eTranzact International Plc has introduced changes to the composition of its Board of Directors following the completion of a shareholding transaction that resulted in a change within the Company’s majority ownership construction.
In a notification to Nigerian Exchange Limited (NGX) and the investing public, the Company disclosed that Access Bank Plc, Meristem Trustees Limited (as Trustee for Accelerex Holdings), and eTranzact Global Limited transferred an mixture of 5,168,921,170 bizarre shares, representing 56.18 % of the Company’s issued bizarre shares, to Trademarks Global Concepts Limited.
Following the completion of the transaction, administrators representing the exiting shareholders resigned from the Board alongside two Independent Non-Executive Directors. The Company has additionally appointed new Directors, together with nominees of Trademarks Global Concepts Limited and two Independent Non-Executive Directors, bringing further expertise and experience to the Board.
Board Resignations
The following Directors have resigned from the Board:
- Chuma Ajene – Non-Executive Director
- Benjamin Dabra – Non-Executive Director
- Afolabi Oladele – Non-Executive Director
- Binta Max-Gbinije – Independent Non-Executive Director
- Maj Gen Emeka Onwuamaegbu (rtd). – Independent Non-Executive Director
The Board expresses its appreciation to the outgoing Directors for his or her service, contributions and dedication to the expansion and growth of the Company throughout their tenure.
Board Appointments
The following people have been appointed to the Board:
- Akinwunmi (Akin) Akinfemiwa – Non-Executive Director
- Olatunde Akande – Non-Executive Director
- Doron Grupper – Non-Executive Director
- Omobola Hollist – Independent Non-Executive Director
- Mustapha Ajenifuja, SAN – Independent Non-Executive Director
Collectively, the brand new appointees convey important expertise throughout company management, banking, growth finance, governance, authorized advisory, infrastructure, power, funding administration and enterprise transformation. Their appointments are anticipated to strengthen the Board’s capability to supply strategic oversight and assist the Company’s long-term aims.
The Company has obtained the approval of the Central Bank of Nigeria (CBN) for the appointments and is updating its data with the Corporate Affairs Commission (CAC) in accordance with relevant regulatory necessities.
eTranzact stays dedicated to sturdy company governance, operational excellence and sustainable worth creation for shareholders and different stakeholders. The Company will proceed to advance its strategic priorities whereas strengthening its place inside Nigeria’s evolving digital funds ecosystem
This announcement is issued for the knowledge of Nigerian Exchange Limited, shareholders, stakeholders and the investing public.
