eTranzact Revamps Board After Ownership Change

eTranzact International Plc announced significant changes to its Board of Directors after completing a shareholding transaction that changed its majority ownership structure. The transaction involved the transfer of 5,168,921,170 ordinary shares, representing 56.18 percent of the company’s issued ordinary shares, from Access Bank Plc, Meristem Trustees Limited, and eTranzact Global Limited to Trademarks Global Concepts Limited.

Following this, several directors representing the exiting shareholders, including Non-Executive Directors Chuma Ajene, Benjamin Dabra, and Afolabi Oladele, along with Independent Non-Executive Directors Binta Max-Gbinije and Maj Gen Emeka Onwuamaegbu (rtd.), resigned from the Board. Five new directors were appointed: Non-Executive Directors Akinwunmi Akinfemiwa, Olatunde Akande, and Doron Grupper, as well as Independent Non-Executive Directors Omobola Hollist and Mustapha Ajenifuja.

The company stated that these new appointees bring significant experience across various sectors. eTranzact has received approval from the Central Bank of Nigeria for these appointments and is updating its records with the Corporate Affairs Commission. The company emphasized its commitment to strong corporate governance and sustainable value creation.