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Federal High Court directs meeting to consider the transfer of GTBank into a Holding Company

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A Federal High Court has coordinated that a gathering of the holders of GTBank Plc, be assembled to consider the exchange of the bank to a holding organization.

The Board of Directors and the executives of Guaranty Trust Bank has unveiled that the Federal High Court of Nigeria on November 6, 2020, coordinated that a gathering of the holders of the completely paid normal portions of GTBank Plc, be assembled on December 4, 2020 to consider the exchange of the bank to a holding organization.

This data was passed on through a Notice of Court-Ordered Meeting by the bank, and distributed on the site of the NSE. It was endorsed by the bank’s secretary, Erhi Obebeduo, and the Nigerian lawful insight to the bank, Aluko and Oyebode.

As per the data contained in the exposure, the court-requested gathering of the holders of the completely paid customary portions of Guaranty Trust Bank Plc to be met to consider and whenever thought fit, endorsing, with or without alteration, a Scheme of Arrangement according to Section 715 of the Companies and Allied Matters Act, 2020 between the bank and the holders of the completely paid normal portions of 50 Kobo each in the bank.

The gathering will be held at the Oriental Hotel, 3, Lekki Road, Victoria Island, Lagos, Nigeria, at 10:00 a.m. or then again before long, at which spot and time the Holders are mentioned to join in.

Goals to be proposed at the gathering

Coming up next are a portion of the sub-joined goals that will be proposed, and whenever thought fit, passed as unique goal at the gathering:

The Scheme of Arrangement dated November 4, 2020, a printed duplicate of which has been delivered for the gathering and, endorsed by the Chairman be and is thusly affirmed.

As per the Scheme, the 29,431,179,224 common portions of 50 Kobo each in the gave and settled up share capital of the Bank held by the investors be and are therefore moved to Guaranty Trust Holding Company Plc (the Holdco) in return for the apportioning of 29,431,179,224 standard portions of 50 Kobo each in the offer capital of the Holdco to the investors in a similar extent to their shareholding in the Bank credited as completely paid with no further demonstration or deed.

As per the Scheme and compliant with the outline gave by the Holdco, each current holder of the Global Depositary Receipts gave by the Bank (the Existing GDRs) get, as thought for each current GDR held, one new Global Depositary Receipt gave by JP Morgan Chase Bank N.A. (JP Morgan Chase), the Depositary Bank for the Holdco GDR program (the Holdco GDRs).

The Board of Directors of the Bank be and is thusly approved to make all fundamental moves to delist the portions of the Bank from the official rundown of The Nigerian Stock Exchange.

What you should know

Review that we revealed before that Guaranty Trust Bank Plc had gotten an endorsement on a fundamental level from the Central bank of Nigeria (CBN) to work as a monetary holding organization.

Under the rebuilding, it is suggested that the gave portions of the bank will be traded on a one-for-one reason for the offers in a budgetary holding organization. The bank’s current Global Depositary Receipts (GDRs) are additionally proposed to be traded on a one-for-one reason for new GDRs to be given by the budgetary holding organization.

Subject to the endorsement of the Scheme by the Bank’s investors, the applicable administrative specialists, and the Federal High Court of Nigeria, the holding organization will have a hierarchical structure that is utilized by countless major money related foundations all around the world.

In any case, remarking on the improvement in March was Segun Agbaje, the Chief Executive official of GTB. He said that a holding organization structure would empower the bank to stay aware of the most recent patterns in the Nigerian budgetary administrations industry.

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Rage as Fela Kuti is not among the inductees into the Rock and Roll Hall of Fame 2021 class

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Godfather of Afrobeat, Fela Anikulapo Kuti who received the posthumous honour to be among those vying to be inducted into the Rock and Roll Hall of Fame 2021 some few months back, sadly failed to secure a spot despite being top two on the voting polls.

Fela Kuti gets shunned from the inductees despite being top two.

Today, May 12, the committee announced the inductees by means of a 3-minute video through president and CEO, Gregg Harris. Fela was nominated in the Performers Category, amassing a total of 545,000+ votes, making him the second most voted act after Tina Turner (548,000+ votes) but to the surprise of the masses, Fela was not included in the list of inductees.

Shockingly included are performers like rap icon and mogul – JAY-Z and LL Cool J who failed to secure a top five spot on the poll, infact, they were the least voted acts when voting concluded.

Although, quite frankly there is a disclaimer on the website were the poll was conducted, stating that votes do not guarantee induction but for a Top 2 voted act in Fela Anikulapo Kuti, that should not even be the case and Nigerians have taken to Twitter to express their disappointment at the ‘rigging’, ‘clout chasing’ and inconsiderate conduct regarding how the Rock and Roll Hall of Fame committee unjustly treated the voting polls and Fela Kuti.

On what might have transpired regarding the voting stage and selection of inductees, Fela’s first son, Femi Kuti had this to say:

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Video: Mojisola Oduola -Kabiyesi

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At last the long awaited video is out . KABIYESI The unquestionable God.

watch and make sure you subscribe to my YouTube channel. May God bless you as you do so.

This will surely serve as my birthday gift from my love ones.
Click on the link below

CLICK TO DOWNLOAD

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Funny tweets, memes and videos from Twitter NG for “Happy 420”

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Today’s date, April 20, stylised as 4/20 is a day worldwide commemorated by stoners or smokers of weed to celebrate marijuana. In short, it is treated as a public holiday for weed/marijuana and termed—Happy 420.

Twitter NG i.e users of Twitter in Nigeria, as it is the yearly custom are trending “Happy 420” as the number one topic in the country. While many really used the medium to share their unwavering love for weed, others have taken it upon themselves to make funny tweets, memes, skits and share several videos in relation to weed smoking and “Happy 420” as an entity.

While some tweeps take jab at those who don’t smoke weed but indulge in the “woke” culture by wishing stoners a “Happy 420”, others in their own way intentionally misinterpret certain scriptural verses for comedic purpose in order to aid and bait their smoking habits, still others take it upon themselves to disperse various memes which for sure will bring a smile upon your face. That’s not all, though, for we have some tweeps who did brainstorm to form some of the best puns concerning weed and stoners jokes ever. Well we can say irrespective of the way they passed their message regarding “Happy 420”, they all ended on a high note. Enjoy!

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