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Dfcu Reveals Top Shareholder Is Quitting, Warns On Share Price

Dfcu limited has revealed that one of its significant minority shareholders will exit the company.

In a customary statement dated 13th December 2019, dfcu informs shareholders and the general public thus: “dfcu Limited (“the Company”) advises its shareholders and the general public that a significant minority shareholder has received and accepted an expression of interest for the purchase of its shareholding in the Company by another investor which, if successfully concluded may have a material effect on the price of the Company’s shares.”

The announcement adds that the transaction   remains subject to obtainment of regulatory approvals and satisfaction of all conditions precedent.

Due to expected sell of shares by the unnamed minority shareholder, the company has therefore advised shareholders and potential investors to be cautions when transacting in the company’s shares. “Shareholders and potential investors are advised to exercise caution when dealing in the Company’s shares until a further announcement is made,” the announcement reads in part.

dfcu’s cautionary announcement

However, reports indicate that the unnamed significant minority shareholder is Commonwealth Development Corporation (CDC) Group of the United Kingdom that own 9.97% of the shares in Dfcu limited.

Currently, dfcu Ltd’s key shareholders  include Arise BV-58.71%, CDC Group of the United Kingdom- 9.97%,  National Social Security Fund (Uganda)- 7.69%, Kimberlite Frontier Africa Naster Fund- 6.15%, 2 undisclosed Institutional Investors- 3.22 %, SSB-Conrad N. Hilton Foundation- 0.98%, Vanderbilt University- 0.87%, Blakeney Management-0.63%, Retail investors-11.19% and BoU Staff Retirement Benefit Scheme-0.59%.

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