{"id":15653,"date":"2014-04-30T11:36:44","date_gmt":"2014-04-30T11:36:44","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=15653"},"modified":"2014-04-30T11:36:44","modified_gmt":"2014-04-30T11:36:44","slug":"republic-bank-increases-share-price-offer-for-hfc-shareholders","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/","title":{"rendered":"Republic bank increases share price offer for HFC shareholders"},"content":{"rendered":"<p>Shareholders of HFC bank who want to sell their shares in the bank to Republic bank will make some extra cash than earlier anticipated.<\/p>\n<p>Republic bank is now offering more cash for a share that is sold to them.<\/p>\n<p>Republic bank initially made an offer of 1 cedi 30 peswes per share.<\/p>\n<p>But the bank yesterday April 29<sup>th<\/sup> increased its offer to 1 cedi 60 peswes per share.<\/p>\n<p>The revised offer is at a premium of 65% over the mandatory price and 28% above the current trading price.<\/p>\n<p>HFC is currently trading at 1 cedi 25 peswes on the Ghana Stock Exchange<\/p>\n<p><a href=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2014\/04\/Hfc-bank.jpg\"><img loading=\"lazy\" class=\"aligncenter size-full wp-image-15656\" alt=\"Hfc-bank\" src=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2014\/04\/Hfc-bank.jpg\" width=\"248\" height=\"210\" \/><\/a>Meanwhile the bank has also submitted its Offeror Statement to HFC Bank and the Securities and Exchange Commission (SEC) detailing its offer to all shareholders of HFC Bank.<\/p>\n<p>This is in line with the requirements of the SEC Code on Takeovers and Mergers (the Takeover Code) and follows the Bank of Ghana\u2019s approval for Republic bank to make a mandatory offer to shareholders and its announcement on 16<sup>th<\/sup> April, 2014.<\/p>\n<p>The offer is subject at all times to the provisions of the Takeover Code and the Listing Rules of the Ghana Stock Exchange.<\/p>\n<p>Republic bank in a statement said it will continue to follow the process as detailed by the SEC; which includes a requirement that HFC Bank advice receipt of the Offeror\u2019s Statement to the SEC within 24 hours.<\/p>\n<p>Republic bank started making news some weeks back after it announced moves to take over HFC in line with SEC\u2019s Code on Takeovers and Mergers (the Takeover Code).<\/p>\n<p>The rule requires that the largest shareholder make\u00a0an offer to all shareholders.<\/p>\n<p>The move has been heavily criticised by some shareholders of HFC bank including the managing director of the bank Asare Akuffo who want the bank\u2019s Ghanaian identity among others maintained.<\/p>\n<p>By:\u00a0 Vivian Kai Mensah\/citifmonline.com\/Ghana<\/p>\n<p><a class=\"twitter-follow-button\" href=\"https:\/\/twitter.com\/Viviankaimensah\" data-show-count=\"false\">Follow @Viviankaimensah<\/a><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=\/^http:\/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+':\/\/platform.twitter.com\/widgets.js';fjs.parentNode.insertBefore(js,fjs);}}(document, 'script', 'twitter-wjs');\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shareholders of HFC bank who want to sell their shares in the bank to Republic bank will make some extra cash than earlier anticipated. Republic bank is now offering more cash for a share that is sold to them. Republic bank initially made an offer of 1 cedi 30 peswes per share. But the bank [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[4],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Republic bank increases share price offer for HFC shareholders - Citi 97.3 FM - Relevant Radio. Always<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Republic bank increases share price offer for HFC shareholders - Citi 97.3 FM - Relevant Radio. Always\" \/>\n<meta property=\"og:description\" content=\"Shareholders of HFC bank who want to sell their shares in the bank to Republic bank will make some extra cash than earlier anticipated. Republic bank is now offering more cash for a share that is sold to them. Republic bank initially made an offer of 1 cedi 30 peswes per share. But the bank [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/\" \/>\n<meta property=\"og:site_name\" content=\"Citi 97.3 FM - Relevant Radio. Always\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/citi97.3\" \/>\n<meta property=\"article:published_time\" content=\"2014-04-30T11:36:44+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2014\/04\/Hfc-bank.jpg\" \/>\n<meta name=\"author\" content=\"Kojo Akoto Boateng\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@citi973\" \/>\n<meta name=\"twitter:site\" content=\"@citi973\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kojo Akoto Boateng\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/\",\"url\":\"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/\",\"name\":\"Republic bank increases share price offer for HFC shareholders - Citi 97.3 FM - Relevant Radio. Always\",\"isPartOf\":{\"@id\":\"https:\/\/citifmonline.com\/#website\"},\"datePublished\":\"2014-04-30T11:36:44+00:00\",\"dateModified\":\"2014-04-30T11:36:44+00:00\",\"author\":{\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1\"},\"breadcrumb\":{\"@id\":\"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/citifmonline.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Republic bank increases share price offer for HFC shareholders\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/citifmonline.com\/#website\",\"url\":\"https:\/\/citifmonline.com\/\",\"name\":\"Citi 97.3 FM - Relevant Radio. Always\",\"description\":\"Ghana News | Ghana Politics | Ghana Soccer | Ghana Showbiz\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/citifmonline.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1\",\"name\":\"Kojo Akoto Boateng\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g\",\"caption\":\"Kojo Akoto Boateng\"},\"url\":\"https:\/\/citifmonline.com\/author\/kojo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Republic bank increases share price offer for HFC shareholders - Citi 97.3 FM - Relevant Radio. Always","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/","og_locale":"en_US","og_type":"article","og_title":"Republic bank increases share price offer for HFC shareholders - Citi 97.3 FM - Relevant Radio. Always","og_description":"Shareholders of HFC bank who want to sell their shares in the bank to Republic bank will make some extra cash than earlier anticipated. Republic bank is now offering more cash for a share that is sold to them. Republic bank initially made an offer of 1 cedi 30 peswes per share. But the bank [&hellip;]","og_url":"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/","og_site_name":"Citi 97.3 FM - Relevant Radio. Always","article_publisher":"https:\/\/www.facebook.com\/citi97.3","article_published_time":"2014-04-30T11:36:44+00:00","og_image":[{"url":"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2014\/04\/Hfc-bank.jpg"}],"author":"Kojo Akoto Boateng","twitter_card":"summary_large_image","twitter_creator":"@citi973","twitter_site":"@citi973","twitter_misc":{"Written by":"Kojo Akoto Boateng","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/","url":"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/","name":"Republic bank increases share price offer for HFC shareholders - Citi 97.3 FM - Relevant Radio. Always","isPartOf":{"@id":"https:\/\/citifmonline.com\/#website"},"datePublished":"2014-04-30T11:36:44+00:00","dateModified":"2014-04-30T11:36:44+00:00","author":{"@id":"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1"},"breadcrumb":{"@id":"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/citifmonline.com\/2014\/04\/republic-bank-increases-share-price-offer-for-hfc-shareholders\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/citifmonline.com\/"},{"@type":"ListItem","position":2,"name":"Republic bank increases share price offer for HFC shareholders"}]},{"@type":"WebSite","@id":"https:\/\/citifmonline.com\/#website","url":"https:\/\/citifmonline.com\/","name":"Citi 97.3 FM - Relevant Radio. Always","description":"Ghana News | Ghana Politics | Ghana Soccer | Ghana Showbiz","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/citifmonline.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1","name":"Kojo Akoto Boateng","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/citifmonline.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g","caption":"Kojo Akoto Boateng"},"url":"https:\/\/citifmonline.com\/author\/kojo\/"}]}},"_links":{"self":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts\/15653"}],"collection":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/comments?post=15653"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts\/15653\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/media?parent=15653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/categories?post=15653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/tags?post=15653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}