IBTC Chartered Bank plc |News|

Zenith Bank Rights Issue and Offer for Subscription are now open

IBTC is acting as Joint Issuing House/Underwriter and Joint Receiving Banker to the N128 billion combined Rights Issue and Offer for Subscription by Zenith Bank Plc (“Zenith” or “the Bank”). The combined Offer/Rights Issue which opened on Thursday, 06 December 2007 is scheduled to close on Thursday, 17 January 2008 . The shares are being offered to shareholders of First Bank at N36.90 and to the general public at N38.90 per share, representing discounts of 20% and 16% respectively, to the current quoted price of N46.09.

Zenith Bank is engaged in the provision of universal banking services to corporate, commercial and individual customers. The Bank provides such banking services as savings and current account, treasury and financing services, investment banking, equipment leasing, trade financing, funds management, import and export finance, amongst others, to the wholesale and retail market with a special focus on top tier customers. The Bank professionalism combined with its conservative banking posture has enabled it to achieve significant success since its inception. Zenith Bank has maintained a steadily rising profit trend over the past five years

Copies of the Prospectus and Abridged Prospectus for the Offer are available at all banks and Receiving Agents nationwide and can be downloaded below. The Rights Circular for the Rights Issue, which contains a Provisional Allotment Letter and the Acceptance/Renunciation Form, has been mailed directly to shareholders. Any shareholder who has not received a copy of the Rights Circular by 21 December 2007 is advised to contact any of the following:

Registrars to the Offer:

Meristem Registrars Limited
305 Herbert Macaulay Way
Yaba
Lagos
Tel: 8920491-2, 5854020-1
E-mail: info@meristemregistrars.com

Joint Issuing House:

IBTC Chartered Bank Plc
I.B.T.C. Place
Walter Carrington Crescent
Victoria Island
Lagos
Tel: 01-2626520 ext 1117 (Funso), 1109 (Lolade) or 1222 (Funke)
Fax: 01-2626541/2
Email: IBTC@IBTC.com

Procedure for Application

• The general investing public is hereby invited to apply for the shares through any of the Receiving Agents listed in the Prospectus and Abridged Particulars of the Prospectus .

• Applications for the shares must be made in accordance with the instructions set out at the back of the Application Form (Offer) or Acceptance/Renunciation Form (Rights Issue). Care must be taken to follow these instructions, as applications which do not comply will be rejected.

• The Application List for the shares opened on Thursday , 06 December 2007 and is scheduled to close on Thursday, 17 January 2008 . Applications in respect of the Offer must be for a minimum of 1000 shares and in multiples of 100 thereafter. The number of shares for which an application is made and the value of the cheque or bank draft attached should be entered in the boxes provided.

• To subscribe to the Zenith Bank Offer, prospective investors can download and complete the Application Form in accordance with the Instructions for completing the Application Form . Completed Application Forms should be lodged at any IBTC or Zenith Bank branch or any of the other Receiving Agents listed in the Prospectus.

• Foreign currency subscribers or overseas subscribers can make payment in US dollars by transferring the US dollar equivalent of the full amount payable for credit to “IBTC Chartered Bank Plc” account number 04087393 at Deutsche Bank Trust Company Americas (SWIFT BIC: BKTRUS33), Church Street Station, New York, N.Y. 10015, USA, (CHIPS UID 288019). The Transferring Bank should request that the Receiving Bank advise IBTC of the payment by SWIFT and quote the full details of the transfer, i.e. your full name, address and purpose of transfer (i.e. Zenith Bank Offer or Zenith Bank Rights).

• Foreign currency subscribers should contact IBTC for the applicable autonomous foreign exchange rate on the day the foreign exchange remittance is being effected. A Certificate of Capital Importation will be issued by IBTC to foreign currency subscribers, which will enable subsequent repatriation of proceeds (in foreign currency) from the sale or any dividend paid by Zenith Bank in future.

Application Form

Abridged Prospectus

Prospectus

Afribank Nigeria Plc N100 billion public offer is now open

IBTC is acting as Joint Issuing House and Joint Receiving Banker to the Offer for Subscription by Afribank Nigeria Plc (“Afribank” or “the Bank”), which opened on 1 November 2007 and is scheduled to close on Monday, 10 December 2007. The shares are being offered to the general public at =N= 25.00 per share, representing a discount of 18% to the current quoted price of =N= 30.49.

Afribank (formerly known as West Africa Limited IBWA) was licensed to carry on banking business on 20 October 2007 and commenced operations on 04 January 1960 . The Bank changed its name to Afribank Nigeria Limited on 01 January 1990 and became a public limited liability company on 07 October 1992 and had its shares listed on the floor of The Nigerian Stock Exchange.

The purpose of this Offer is to finance the expansion and upgrade of Afribank's branch network in Nigeria, to strengthen its subsidiaries' capital base, to implement the bank's strategic business developmental objectives, to upgrade the bank's ICT infrastructure and to provide additional working capital to support its enlarged operations.

Copies of the Prospectus and Abridged Prospectus for the Offer will be available at all banks and Receiving Agents nationwide and can be downloaded below.

Procedure for Application

1. The general investing public is hereby invited to apply for the shares through any of the Receiving Agents listed in the Prospectus and Abridged Particulars of the Prospectus .

2. Applications for the shares must be made in accordance with the instructions set out at the back of the Application Form . Care must be taken to follow these instructions, as applications which do not comply will be rejected.

3. The Application List for the shares opened on Thursday, 1 November 2007 and is scheduled to close on Monday, 10 December 2007. Applications in respect of the Offer must be for a minimum of 1,000 shares and in multiples of 100 thereafter. The number of shares for which an application is made and the value of the cheque or bank draft attached should be entered in the boxes provided.

4. To subscribe to the Afribank Offer, prospective investors can download and complete the Application Form in accordance with the Instructions for completing the Application Form . Completed Application Forms should be lodged at any IBTC or Afribank branch or any of the other Receiving Agents listed in the Prospectus.

5. Foreign currency subscribers or overseas subscribers can make payment in US dollars by transferring the US dollar equivalent of the full amount payable for credit to “IBTC Chartered Bank Plc” account number 04087393 at Deutsche Bank Trust Company Americas (SWIFT BIC: BKTRUS33), Church Street Station, New York, N.Y. 10015, USA, (CHIPS UID 288019). The Transferring Bank should request that the Receiving Bank advise IBTC of the payment by SWIFT and quote the full details of the transfer, i.e. your full name, address and purpose of transfer (i.e. Afribank Offer).

6. Foreign currency subscribers should contact IBTC for the applicable autonomous foreign exchange rate on the day the foreign exchange remittance is being effected. A Certificate of Capital Importation will be issued by IBTC to foreign currency subscribers, which will enable subsequent repatriation of proceeds (in foreign currency) from the sale or any dividend paid by Afribank in the future.

Application Form

Abridged Prospectus

GTB GDR Conversion

The GDR certificate can be converted to local GTBank shares and lodged into your CSCS account by completing the "GDR Cancellation/Conversion Instruction Form". Should you wish to convert the GTB GDR into local GTBank shares, kindly download and execute the GTB GDR cancellation /conversion instruction form. The new GTBank shares will subsequently be lodged into your CSCS account with IBTC Asset Management Limited.

Please note that you are required to pay $5.00 (Naira equivalent of N640.00) for every 100 GTB GDRs you are converting to local GTBank shares. Cheques (in Naira) should be made payable to IBTC Asset Management Limited. Please feel free to contact Yinka Johnson on 01-2626520 ext 1116 or Idris Toriola on 01-2626520 ext 1112, should you require further clarification on the above.

Download the GTB GDR Conversion form here

Fidelity Bank Rights Issue and Offer for Subscription are now open

IBTC is acting as Joint Issuing House and Joint Receiving Banker to the =N=48 billion combined Rights Issue and Offer for Subscription by Fidelity Bank Plc (“Fidelity Bank” or “the Bank”). The combined Offer/Rights Issue which opened on Thursday, 27 September 2007 and is scheduled to close on Friday, 09 November 2007. The shares are being offered to shareholders of Fidelity Bank and the general public at =N=8.00 per share, representing a discount of 33% to the current quoted price of =N=11.99.

Fidelity Bank was incorporated on 19 November 1987 as Fidelity Union Merchant Bank Limited to provide merchant banking services. The Bank was converted to a commercial bank on 16 July 1999 and re-registered as a public limited liability company and had its name changed to Fidelity Bank Plc on 10 August 1999. Following its merger with FSB International Plc and Manny Bank Plc, Fidelity Bank has increased its provision of a wide range of products and services. The Bank has acquired varied experience in both merchant and commercial banking activities and has constantly been restructuring and repositioning its operations as new challenges arise to withstand the dynamism and competitiveness of the banking industry in order to meet the needs of customers and increase returns to shareholders

Copies of the Prospectus and Abridged Prospectus for the Offer will be available at all banks and Receiving Agents nationwide and can be downloaded below. The Rights Circular for the Rights Issue, which contains a Provisional Allotment Letter and the Acceptance/Renunciation Form, has been mailed directly to shareholders. Any shareholder who has not received a copy of the Rights Circular by 28 May 2007 is advised to contact any of the following:

Registrars to the Bank:

First Registrars Nigeria Limited
Plot 2 Abebe Village Road
Iganmu
Lagos
Tel: 01-2701078-9
Email: info@firstregistrars.com

Prospective investors and shareholders of Fidelity Bank can also subscribe to the Offer or Rights Issue online at www.fidelitybankplc.com.

Procedure for Application

1. The general investing public is hereby invited to apply for the shares through any of the Receiving Agents listed in the Abridged Particulars of the Prospectus .

2. Applications for the shares must be made in accordance with the instructions set out at the back of the Application Form (Offer) or Acceptance/Renunciation Form (Rights Issue). Care must be taken to follow these instructions, as applications which do not comply will be rejected.

3. The Application List for the shares opened on Thursday , 27 September 2007 and is scheduled to close on Friday, 09 September 2007 . Applications in respect of the Offer must be for a minimum of 1000 shares and in multiples of 100 thereafter. The number of shares for which an application is made and the value of the cheque or bank draft attached should be entered in the boxes provided.

4. To subscribe to the Fidelity Bank Offer, prospective investors can download and complete the Application Form in accordance with the Instructions for completing the Application Form . Completed Application Forms should be lodged at any IBTC or Fidelity Bank branch or any of the other Receiving Agents listed in the Prospectus.

Application Form

Abridged Prospectus

THE IBTC NIGERIAN EQUITY FUND - CLOSURE OF REGISTER & TRANSFER BOOKS

NOTICE IS HEREBY GIVEN THAT the Register of Unit holders and Transfer Books of The IBTC Nigerian Equity Fund (“The Fund”) will be closed from Wednesday 30 January 2008 to Friday 01 February 2008 (both dates inclusive) for the purpose of ascertaining the Unit holders that qualify for the proposed distribution for the year ended 31 December 2007 which distribution will be payable to all Unit holders registered in the Books of The Fund as at the close of business on Tuesday 29 January 2008.

BY THE ORDER OF THE TRUSTEES
PHB CAPITAL & TRUST LIMITED

IBTC's latest Fitch and Global Credit rating(GCR) report.

"IBTC has consistently earned good industry ratings issued by Fitch Ratings, global leaders in bank risk analysis and Global Credit Rating Company, a locally registered rating agency. The ratings reflect “its reputation as Nigeria 's premier investment Bank as well as increased diversification and improvement of earnings..." and "its outstanding short-term liquidity and enhanced competitive position in the Nigerian banking industry". In their most recent ratings, Fitch Ratings gave IBTC a long term “A” rating and a short term “F1” rating. Global Credit Rating Company gave IBTC a long term "AA-" and a short term "A1+" rating.

FITCH ratings' 2007 Press Release on IBTC Chartered Bank

GCR ratings' 2007 Press Release on IBTC Chartered Bank

The IBTC Mutual Fund TeleFund Manager

We are pleased to advise that you can now make enquiries and access information on your IBTC Mutual Fund accounts (i.e. your investments in The IBTC Nigerian Equity Fund and /or The IBTC Ethical Fund) via telephone. To access this service simply dial 01-2626520 or 01-2712400, press 5 for Mutual Fund Telephone Services and follow the tele prompts designed to guide you in this regard.

Please note that to obtain the Net Asset Value of your account(s), you will be required to provide your e-account number (i.e. the number you used to register on – line). Please do not use the account number that appears on your certificate unless it clearly specifies that it is an e-account number. You will also be required to choose a four-digit pin number, which you will use each time you want to access information on the Net Asset Value of your account (s) by phone.

Kindly let us know if you experience any challenges when using this telephone service by contacting us on 01-2626520 or 01-2712400 Ext 1165, 1220, 1170, and 1215 or by e - mail on ibtcnef@ibtc.com or ethicalfund@ibtc.com

We thank you for giving us the opportunity to enhance the services offered to the Unitholders of our Mutual Funds and look forward to a long and mutually beneficial relationship.

Best Regards

The Fund Manager

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