Tag: Fidelity Bank Plc

The Nigerian Exchange Group (NGX) has announced the successful listing of Fidelity Bank’s 10-year subordinated unsecured fixed rate series 1 bond worth N41.2 billion, on its platform.

This is according to a notification by the NGX Group which reads; ” This is to inform the General Public that Fidelity Bank Plc’s N41,213,000,000 10 year  8.5% Subordinated Unsecured Fixed Rate Series 1 Bonds due 2031, issued on January 7th, 2021 under Fidelity Bank’s N100,000,000,000 Debt Issuance Programme were listed on the Daily Official List of NGX on Tuesday, 20 April 2021.”

The successful issuance of the bond demonstrates strong investors confidence in the brand, and highlights the capability of the bank to expand its funding sources. In light of this, the proceeds from the bond issuance will be used to fund key activities which will ultimately translate in the development of the banking sector and the Nigerian economy at large.

What you should know:

• Nairametrics had earlier reported the listing of Fidelity’s N41.2 billion series 1 bond on FMDQ Securities Exchange.
• This is in addition to a N30 billion series 1 bond earlier issued on the same platform in 2015. The bond had a face value of N1000, tenor of 7 years and a coupon rate of 16.48%.

For more information about the disclosure, click HERE.

Fidelity Bank Plc has announced that it will be hosting its 33rd Annual General Meeting on the 30th of April, 2021.

According to a notice sent to the Nigerian Stock Exchange platform, the meeting will hold at the Africa-Asia Meeting Room at Eko Hotels & Suites, Lagos at 10:00 am. The following will be discussed;

• The audited financial statements of the company for the year ended 31st December 2020.
• The proposed final dividend for the aforementioned period will be formally declared and subsequently paid.
• Appointment into the company’s Board will be duly scrutinized and ratified.
• The remuneration of board members in FY 2021 will be discussed and ratified. A proposal to pay Non-Executive Directors N20 million each and the Chairman of the Board N27.5 million was muted.
• The remuneration of the company’s managers and auditors will also be considered and discussed.

What you should know:

• Fidelity Bank Plc had earlier reported a profit after tax of N26.7 billion for the year ended 31st of December, 2020. Sequel to this, it declared a dividend of 92 kobo per share.
• In line with CAC guidelines, attendance of the AGM will be by proxy only.

For more information about the AGM, click HERE.

Fidelity Bank Plc has announced that it will be hosting its Board of Directors meeting on the 26th of April, 2021.

This is according to a disclosure signed by the Company’s secretary, Ezinwa Unuigboje and sent to the Nigerian Stock Exchange.

The meeting is scheduled to consider among other things, the unaudited financial statements of the company for the quarter ended 31st of March, 2021 (Q1, 2021). Sequel to this, the bank will be observing a close period from 6th of April, 2021 until 24 hours after the unaudited financial statements have been filled with The Exchange.

What you should know:

• During the close period, no insider of Fidelity Bank Plc will be able to deal with its shares, whether directly or indirectly.
• Fidelity Bank Plc had earlier reported a Profit after tax of N26.7 billion in FY 2020. Sequel to this, the bank proposed a final dividend of 22 kobo.

For more information about the notice, click HERE.