VFD Group Plc has approved the establishment of a new Capital Market Holding Group, Anchoria Capital Group Limited, subject to regulatory approvals to retain its shares presently held in Anchoria.
This was disclosed in a document filed with the Nigeria Exchange Group and signed by the Company Secretary, Gbeminiyi Shoda on Tuesday.
The statement added that this entity will consolidate the shares currently held in Anchoria Asset Management Limited, Anchoria Investment & Securities Limited, and Kairos Capital Limited, facilitating a more strategic alignment of VFD Group’s capital market entities.
“The Board approved the creation of a Capital Market Holding Group- Anchoria Capital Group Limited subject to relevant regulatory approvals to hold its shares currently held in Anchoria Asset Management Limited, Anchoria Investment & Securities Limited, and Kairos Capital Limited. This will aid the strategic positioning of the Capital Market entities within the Group.
To optimise its investment portfolio, VFD Group has also approved the sale of a 30 per cent equity stake in Abbey Mortgage Bank Plc.
It added that to support its growth ambitions, the Group will seek shareholder approval at the upcoming Annual General Meeting for an additional capital raise of N30bn. This capital infusion will fund new initiatives and strengthen the company’s financial foundation.
The Board has also sanctioned the issuance of four new bonus shares for every existing share, based on the 2023 Audited Financial Statements.
“Subject to shareholders’ approval at the upcoming Annual General Meeting, an additional capital raise of N30bn was approved.
“A scrip (bonus) issuance of four new shares for every one share held was approved based on the 2023 Audited Financial Statements filed with The Exchange on 25 May 2024.”
PUNCH reported that VFD Group Plc plans to set up a special exchange platform to address the need for increased financing for the entertainment and media industry.