Zenith Bank shareholders approved its restructuring to a holding company at a court-ordered virtual EGM.
Zenith Bank shareholders unanimously approved its restructuring to a holding company during a court-ordered virtual Extraordinary General Meeting (EGM). The restructuring, in accordance with the Scheme of Arrangement dated March 28, involves transferring 31.396bn ordinary shares from Zenith Bank Plc to Zenith Bank Holding Company Plc (HoldCo) and is expected to be exchanged for an equivalent number of ordinary shares in the HoldCo. Each existing Global Depository Receipt (GDR) holder will also receive one new HoldCo GDR for each existing GDR held.
April 28, 2024
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