Wema Bank Is Ready For Acquisition And Merger

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Wema Bank plc yesterday sought shareholders approval to enter into discussions, negotiations, and or agreement with any bank, financial or non-financial institution locally or internationally for the purpose of acquisition, merger, and equity investment in such bank or institution or undertake any business combination beneficial to the bank.

The bank also sought the approval of its shareholders to raise additional capital of such amount as shall be appropriate for the business of the bank either locally or internationally through the issuance of tenured bonds, irredeemable preference shares, notes, equity or debts (or a combination of both) loans in any currency, whether or not convertible to shares, or any other methods in one or more tranches and at such interest rates, pricing and terms to be determined by the directors as they deem appropriate.