An Independent Non-Executive Director in BUA Cement Plc, Mr. Shehu Abubakar, has purchased additional 1 million units of the firm’s shares worth N74.25 million.
This is according to a notification signed by the firm’s secretary, Ahmed Aliyu and sent to the Nigerian Exchange Group Limited, as seen by Nairametrics.
The disclosure revealed that the transaction took place on the 21st of May, 2021 at Lagos, with the Director purchasing an additional 1 million units of the firm’s share at N74.25 per share. This put the total consideration for the shares purchased by the Independent Non-Executive Director at N74, 250,000.
It is pertinent to note that the disclosure is in line with the statutory requirements pre-specified by the Exchange and needed to entrench transparency and confidence in the system. Trade by insiders, particularly purchases, often demonstrates confidence in the financial performance of the companies that they run.
BUA Cement Plc closed trading today 12th of July, 2021 with a share price of N71.