Hahaha – the men are “talking” and the words are “cash. cash. cash”, totally different from what Hamlet said in ages past. Lord Polonius in Shakespeare’s Hamlet would have wondered and said, “what an answer!”, hearing something better than the “words, words, words” from the mouth of Hamlet.
The play is in the Nigerian stock exchange and the actors are Tony Elumelu (my mentor in business and a man who opened his heart to guide a village boy, and his company provided the first support which enabled my breakthrough) and Femi Otedola, a business icon. On the script, the words are “cash” and the stage is Transnational Corporation Plc (Transcorp).
Otedola has been buying this company and was close to 6.5% – and a little more, he would become the dominant shareholder, controlling the company. But today, Elumelu, upped the game, pushing all the way to 25.58% of the company’s total shares: “The acquisition of 9,697,189,984 units of shares brings HH Capital’s total holdings in Transcorp to 9,991,173,177 units, representing 25.58% of the company’s total shares.”
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Femi Otedola has taken his stake in Transcorp to 6.3%: ‘“We write to inform you that our client Femi Otedola (C4430272AP) has acquired additional unit of Transcorps shares that brings his percentage holdings with us to 5.8…Stanbic IBTC Stockbrokers Limited, in its own letter, informed Africa Prudential the energy magnate procured shares… That takes his entire holding in Transcorp to 6.3 per cent or 2.6 billion shares’.
We will wait for how Otedola will respond. Investors in Transcorp, rejoice because it will turn out good. I am liking it because I bought this company during the IPO, circa 2007, and I also got it for Ifeoma for her birthday! (village man who buys shares as birthday gifts instead of gold and silver for his wife).
If Otedola responds with 50% interest, Elumelu may just go for the 100% and that means they will pay us a premium as ordinary investors. #louder, do not stop this play; I am liking it.
“In compliance with Chapter 17, Rule 17.13 of the NGX Issuers Rules, Transnational Corporation Plc (the Company) hereby informs the Nigerian Exchange Limited (NGX) and the investing public of the below new acquisition of shares in the Company. With this new acquisition, HH Capital Limited now holds a total of 9,991,173,177 units, representing 25.58% of the Company’s total shares.”
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The moneymen are hosting a Challenge Game, we cannot interfere.