Majority shareholder of HFC bank Republic bank has urged shareholders of HFC to take advantage of its share offer.
[contextly_sidebar id=”LLne17x2DHEpGD5pKju6p8udaRevGJjR”]Republic Bank of Trinidad and Tobago which holds about 42% of shares in HFC is currently offering shareholders of the bank GHS1.60 per share as part of the mandatory takeover codes of the Securities and Exchange Commission.
An earlier approval for the offer was put on hold last year after management of HFC, initiated an action in the High Court to prevent the start of the mandatory takeover offer process.
Speaking to Citi Business News the Group General Counsel and Corporate Secretary of the Republic Bank of Trinidad and Tobago Jacqueline Quamina employed shareholders to look at the facts and take advantage of the offer which is the best they can get on the market today.
“ Republic Bank is entering into a very important part of the process which is the culminating part we have been involved in here in Ghana and it’s up to each shareholder to come to a decision on what they want to do with their HFC shares”.
According to Jacqueline Quamina she believes the offer is a good one.
“These opportunities don’t come round every day; this is where the decision gets to be made. Everybody who owns a share in HFC Bank has to decide whether they want to welcome Republic Bank or whether the situation remains the same.”
According to Republic Bank the figure ‘represents a premium of 18% above the average price of HFC Bank shares for the year to date.
The share offer will end on May 7, 2015.
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By: Norvan Acquah – Hayford/citifmonline.com/Ghana