Guaranty Trust is transitioning to a Holding Company Structure in view of the trends in financial services and in line with our vision of creating more value beyond banking for our customers, the communities in which we operate, and all our stakeholders. The Holding Company Structure will enable our organization to operate a corporate centre known as Guaranty Trust Holding Company Plc that will be responsible for setting strategic direction, providing group-wide oversight, and aligning corporate governance and management roles for all our businesses which will extend beyond banking to include other financial services.
Guaranty Trust Holding Company Plc (GTCO Plc) is a legal entity domiciled in Nigeria and the new parent company of Guaranty Trust Bank Nigeria Ltd, Guaranty Trust Bank Ghana, Guaranty Trust Bank Uganda, Guaranty Trust Bank Kenya, Guaranty Trust Bank Rwanda, Guaranty Trust Bank Liberia, Guaranty Trust Bank Gambia, Guaranty Trust Bank Cote D’Ivoire, Guaranty Trust Bank Sierra Leone, Guaranty Trust Bank Tanzania, and Guaranty Trust Bank United Kingdom. GTCO Plc is also the parent company of every non-banking business that may be established following this transition.
All existing subsidiaries of Guaranty Trust Bank Plc will become a subsidiary of Guaranty Trust Holding Company Plc. Guaranty Trust Bank Plc will become a Limited Liability Company (Guaranty Trust Bank Ltd) and a subsidiary of Guaranty Trust Holding Company Plc, also known as GTCO Plc.
The transition will result in no change to the rights and ownership of existing shareholders of Guaranty Trust Bank Plc. Your shareholding is simply being migrated to Guaranty Trust Holding Company Plc in a 1:1 share transfer. Shareholders with CSCS accounts will have their shareholdings in Guaranty Trust Bank Plc replaced with that of Guaranty Trust Holding Company Plc, while those without CSCS accounts will be sent the physical share certificates of Guaranty Trust Holding Company Plc in replacement of share certificates of Guaranty Trust Bank Plc to the address in the database of the registrar. Shareholders with shares partially held at the CSCS and physically held will have their entire shares updated in their CSCS account.
Yes, a lot. First, you will continue to receive your dividends and all benefits as previously enjoyed. Secondly, as a shareholder of the holding company, you will benefit from the entire businesses in the Group. The holding company structure will enable our organization to drive value from new businesses whilst consolidating on the strengths of existing businesses. We will create multiple lines of income and enter into new growth whilst extracting more value from our international banking subsidiaries and increasing our core banking growth in Nigeria.
Ultimately, this Holding Company structure will enable us to enhance the growth potential of the entire group, thereby ensuring increased and sustainable returns for you and all our shareholders in the long-term.
DataMax Registrars Limited remains the registrar of Guaranty Trust Holding Company Plc.
No. The registrar will contact all shareholders appropriately if need be.
No. The value of your shareholdings remains exactly what it would have been if it were Guaranty Trust Bank Plc.
No. You do not need to complete any form. Your share certificate will be sent to you.
Yes. You will continue to receive your dividends and all benefits as previously enjoyed.
No. You do not need to complete another bank mandate form as the restructuring will not affect your mandate instructions.
New share certificates with the new name – Guaranty Trust Holding Company Plc, will be reissued to you. As a result, all existing share certificates in your custody will automatically become void.
Your existing shares with the CSCS will remain the same but under a new name – Guaranty Trust Holding Company Plc.
Yes, you will be issued a new share certificate for the number of units you have; however, for the shareholders whose holdings are already with the CSCS, the units will be sent to the CSCS instead.
No worries. A new share certificate with the new name – Guaranty Trust Holding Company Plc will be issued and sent to you.
No, your shareholdings remain the same.
You can still claim your dividends by requesting a re-issuance or revalidation. Contact DataMax Registrars Limited for further information.
Once Guaranty Trust Bank Plc is delisted on the stock exchange, you will only be able to trade with Guaranty Trust Holding Company Plc shares.
There is no bonus issue associated with this transition process.
You do not need to complete another bank mandate form as the restructuring will not affect your mandate instructions.
None. The market capitalization of Guaranty Trust Bank Plc will not be adversely affected by the change in the legal structure.
Guaranty Trust Holding Company Plc will be listed on The NGX under the “other financial services” sector as a non-operating holding company.
Guaranty Trust Holding Company Plc will be regulated primarily by:
There will be no change to the regulators at the subsidiary level. For instance, Guaranty Trust Bank Nigeria Ltd will continue to be regulated by the Central Bank of Nigeria as a commercial bank.