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FOR IMMEDIATE RELEASE

13 JUNE 2012

SECURITIES AFRICA LIMITED COMPLETES ACQUISITION OF SKYE STOCKBROKERS

JOHANNESBURG, SOUTH AFRICA. Securities Africa Limited has successfully completed its acquisition of Skye Stockbrokers Limited, the stockbroking and financial services arm of Skye Bank Plc. Skye Stockbrokers delivers a wide spectrum of capital markets and investment banking services to state governments, pension fund administrators, insurance companies, multinational conglomerates, and institutional investors throughout Nigeria. The Company has served as lead manager on numerous capital market transactions with leading companies and institutions, notably IHS Nigeria Plc, Tanalizers Plc, Law Union and Rock Insurance Plc, and Lagos State among others.

“Nigeria is a key market for institutional investors looking towards Africa,” according to Michael Barnes, Managing Director of Securities Africa. “We are currently one of the largest participants on the Nigerian Stock Exchange and this will provide us with an on-the-ground presence which should further cement our position. Our international client base will benefit enormously from this acquisition and we hope to play a more meaningful role in the ongoing development and continued evolution of the Nigerian capital markets.”

In accordance with the new ownership, both the shareholders and board of directors for Skye Stockbrokers have agreed to change the Company’s name to Securities Africa (Nigeria) Limited. The Company remains fully capitalized and licensed to conduct business by The Nigerian Stock Exchange.

contacts
  • Bermuda +1 441 278 7620
  • South Africa +27 11 243 9030

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