Access Holdings rewards 56 employees with 20.57m shares

Detailed summary

Access Holdings Plc has disclosed the vesting of 20.57 million shares allocated to 56 employees, more than four months after the ...

Access Holdings Plc has disclosed the vesting of 20.57 million shares allocated to 56 employees, more than four months after the shares became effective, raising questions about the timing of its employee share-award disclosures.

The notice, signed by Company Secretary Sunday Ekwochi and dated November 11, 2026, showed that the shares vested on July 1, leave a 133-day gap between the vesting date and the public disclosure.

At Access Holdings’ closing share price of N27.10 on November 11, the shares were worth approximately N557.4 million. Company Secretary Ekwochi was also among the beneficiaries, according to MoneyCentral’s report on the filing.

The disclosure is particularly interesting because it contrasts with an earlier award announced by the bank holding company.

On July 8, Access Holdings notified the market that approximately 229.8 million shares had vested in 77 employees between June 29 and June 30. That announcement came just eight days after the final vesting date.

The two disclosures relate to awards that took effect within three consecutive days, yet the market received information about them on very different timelines.

The published account does not explain the delay surrounding the July 1 tranche, and the available information does not show that the company breached any regulatory disclosure requirement.

The earlier tranche was more than 11 times larger than the 20.57 million shares disclosed in November.

Former executive director Bolaji Agbede received approximately 15.09 million shares under the earlier award, making her the largest beneficiary of that allocation. Several employees also appeared in both disclosures, according to MoneyCentral.

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