JULY 21, 2018: CORPORATE NEWS FROM BOTSWANA, GHANA, NIGERIA.

BOTSWANA:

A-CAP RESOURCES LTD WITHDRAWS RIGHTS ISSUE.

A-cap resources ltd, one of the companies quoted on the Botswana Stock Exchange has withdrawn its non renounceable rights issue announced on April 30 2018.

The rights was intended to raise As4m through 66,657,864 new shares to be allocated to existing shareholders in the ratio of 1 new for 13.08 old ones held.

It was to close on July 24 this month with hopes for the deployment of the funds in the company's Uranium project, energy strategy and to beef up working capital.

The Rights had to be cancelled because the underwriter which was a Chinese company, for procedural reasons could not obtain certificate of foreign investment on time.

A-cap promises to refund all monies got so far on the Rights as soon as possible and it does not expect the cancellation to adversely affect its operations and plans.

BOARD CHANGES AT WILDERNESS HOLDINGS LTD

The revolving door at the boardroom of Wilderness Holdings ltd has revolved to exit 2 non executive directors, Jachen Zeitz and Christophe Vinsonneau and admit 4 new ones.

According to Group company secretary, Lu-Anne Alexander, in a release dated July 18, the four new directors were Babajide Olanrewaju; Akinyemi Lalude, Michael Stone and Nick Stone.

Babajide is a partner in Africa team at TPG Growth and leads anglophone Africa operations.

He joined TPG in 2015 and prior to that he was partner at Satya Capital for 6 years after spending another 6 years at Morgan Stanley.

He also worked with Golden Sachs and Shell International at different times.

He holds Masters in mechanical engineering specialising in reactor technology from Imperial College London.

Aknyemi, on the other hand, is Managing Partner TPG Growth and leads TPG's Africa investments.

Before TPG, he was founder and managing partner, Adlevo Capital.

He holds Bsc and Msc in Mechanical engineering from the University of Lagos and Standford University plus an MBA from Harvard.

Michael Stone was the founder and managing partner of FS Investors and currently serves as senior adviser and partner at TPG.

Hitherto, he was founder and chairman of JH Whitney Investment Management LLC and retired as managing partner and president of JH Whitney & co, USA.

He holds a BA from Duke University and an MBA from Harvard.

Lastly, Nike Stone is a partner at FS Investors and Vice President TPG Capital.

He is a graduate of Harvard University and also holds MBA from Standford University.

BRIGHTER PROSPECTS FOR SEFALANA HOLDINGS CO LTD.

Sefalana Holdings co ltd has issued cautionary statement about its April 30 2018 year end reports.

According to the caution, issued by Mohammed Osman, Chief Finance Officer said the Group net income will be significantly higher than its year 2017 figures.

In view of this, shareholders should be careful how they deal in the company's shares before the formal release of the report.

NIGERIAN STOCK EXCHANGE:

NEW CEO FOR ECOBANK NIGERIA.

A new CEO has been formally appointed for Ecobank Nigeria to replace its outgoing Charles Kie.

According to the company secretary, Madibinet Cisse, the new CEO is Patrick Akinwuntan but the appointment is still subject to formal approval by the Central Bank.

He is currently the Group executive consumer banking and leads Ecobank's global consumer operations in 40 countries.

Earlier he had served on the board of Ecobank Transnational and as an executive director Ecobank Nigeria.

He joined Ecobank in 1996 and since then has served in various capacities.

He is a fellow of the Institute of Chartered Accountants , Associate of the Chartered Institute of Taxation of Nigeria.

GODSMART LTD BUYS INTO NAHCO

Godsmart Nigeria ltd has purchased 16.7% of the issued shares of Nigerian Civil Aviation Cargo Handling co (NAHCO) thus becoming its major shareholder.

According to Bello A Abdullahi, the company secretary, the shares were bought officially through the Nigerian stock market and consequently, major changes have occurred on the board if NAHCO.

The 2 directors representating the erstwhile shareholder who sold the shares resigned from the board and in their place Godsmart nominated new directors.

They are Engr Mohammed Gambo Umar and Mr Akinwunmi Godson Fanimokun. They were nominated at the board meeting held on July 19 this year.

Akinwunmi has over 35 years experience spanning stints as COO of First Bank of Nigeria, and CEO of First Pension Custodian.

He currently the chairman of Pay Attitude, Pridal; Blue Print Business Technologies and Xpress Payment Solutions.

He has Bsc Economics from Obafemi Awolowo University, Ile I've and an MBA from Helen Management College, UK.

Mohammed Umar brings to bear over 36 years experience serving in various companies and organisations including as CEO Kapital Insurance co Ltd and Federal Airports Authority of Nigeria plus as Executive Director of Nigerian Security and Minting company.

He holds Bsc industrial Engineering, Kansas State University, Michigan, Masters in finance and banking Michigan state university Baltimore and is a member of the Council for the Regulation of Engineering in Nigeria (COREN).

GHANA:

NEW DIRECTOR FOR GHANA COMMERCIAL BANK.

A new non executive director has been appointed to the board of Ghana Commercial Bank in the person of Alhaji Alhassan Yakubu.

He is currently a private business man but brings to bear experience in banking that started in 1991 with the Merchant Bank of Ghana ltd and also covers 13 years with the Bank of Ghana.

He holds Bsc from the University of Ghana. Legon.