Ghana’s V&A transfers 29% of its ordinary shares in EGL to GSVL

Ghana’s V&A transfers 29% of its ordinary shares in EGL to GSVL

Databank Brokerage Limited announces that Ventures and Acquisitions Limited (V&A), holder of 34.84% (46,628,740) of the ordinary shares in Enterprise Group Limited (EGL), has completed an Internal Transfer of 29% of its holdings (38,808,040 ordinary shares) to Grace Strategic Ventures Limited (GSVL).

Grace Strategic Ventures Limited is a Ghanaian registered company limited by shares incorporated by Ventures and Acquisitions Limited.

Enterprise Group is a pioneering Ghanaian insurance company. They are listed on the stock index of the Ghana Stock Exchange, the GSE All-Share Index. It has been in operation since 1924, when Ghana was the British Gold Coast, under the name Enterprise Insurance Company.

The transfer has been approved by the National Insurance Commission and the Ghana Stock Exchange. As a result of the transfer, V&A’s direct shareholding in EGL has decreased to 5.84%. However, its aggregate direct and indirect shareholding in EGL is still 34.84%.