Oct 03, 2014/NSE

Ecobank Transnational Incorporated (ETI) notified The Nigerian Stock Exchange that by a resolution passed on the 14th September 2011 the Board of Directors of Ecobank Transnational Incorporated (ETI) approved the acquisition of Oceanic Bank International Plc (Oceanic).

In line with the Terms on Conversion of Preference shares recommended to Oceanic shareholders by the Oceanic Board as were stated in the Scheme of Arrangement documents and approved by Oceanic shareholders “The holders of the Preference shares shall have right, exercisable at any time between the third anniversary of the Issue Date and the fifth anniversary thereof, to convert their Preference Shares into Ordinary Shares in the Company. Each Preference Share, upon conversion, shall convert into 0.76923 Ordinary Shares”.

ETI hereby informs that the conversion of the preference shares may be done at any time between October 31, 2014 and October 31, 2016. Any holder who wishes to convert his/her Preference shares should forward the following to the Registrars – EDC Registrars’ Limited:

1. CSCS Clearing House number (CHN)

2. The Preference Share Certificate

3. Valid means of Identification