WorldStage Newsonline– The board of directors of Resort Savings & Loan Plc has notified the Nigerian Stock Exchange (NSE) about an update on its recapitalisation exercise, saying it had executed a share purchase agreement with Camey & Rock Business Consulting Limited to the tune of N4,300,00,00 following its strategic equity investment in the bank.
The notification issued on Wednesday said cash will be injected into the bank in tranches.
It said in order to inject the next tranche of cash into the bank and kick-start full operations, the partners had requested for extension from the Central Bank of Nigeria (CBN) to enable it conclude the recapitalisation exercise outside the 31 December 2020 to June 30, 2021.
“The request is premised on the need to resolve some administrative and basic regulatory issues,” the partners said.
Resort Savings said the investor had assisted in resolving some legal and operational issues in order to come to operation soon.
It also said the investor had assisted in motivating the staff, resolution and arrangement of some critical financial obligations, action towards filing of outstanding financial statements and relocation of the head office to 12 Boyle Street, Lagos.
It said waiting for the response of the CBN to Camey request, it believed that the strategic investment will change the face of the bank, reposition in the comity of financial services providers in Nigeria,grow capacity with consequential effect in increasing the wealth of stakeholders.
WorldStage search showed that Camey & Rock Business Consulting Limited with Registration Number 1135319 was incorporated in Abuja on 15 Aug 2013
The Lead Partner/CEO & Founder of Camey & Rock, Peter Adejoh is said to be an experienced Chief Executive Officer with a demonstrated history of working in the financial services and consulting industry. Skilled in Investment Banking, Insurance, Microfinance, Financial Advisory, Commercial Real Estate, Project Portfolio Management, Private Equity and Financial Inclusion. Strong entrepreneurship professional with educational background in Computer Science, History and Project Management.
