Month: September 2021

Guinness Nigeria set to hold Board Meeting on October 19.

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Guinness Nigeria Plc has notified shareholders, the Nigerian Exchange Limited (NGX), the investing public and other stakeholders that it will be hosting a Board of Directors Meeting on the 19th day of October, 2021.

This is according to a recent notice issued by the brewing giant and filed with the Nigerian Exchange Limited (NGX), as seen by Nairametrics.

According to the disclosure, the Board meeting was scheduled to enable the company consider and approve its financial results for the quarter ending 30th of September 2021, amongst other issues. If approved, the company’s result for the period is expected to be published on the NGX website on or before 20th of October, 2021.

Consequently, the Company will commence a closed period from 30th of September, 2021 until 24 hours after the outcome of the Board Meeting is announced to the investing public. During the closed period, no director, person discharging managerial responsibility and adviser of the Issuer and their connected persons shall deal in the securities of the Company.

 

See link to notice.

 

Prestige Assurance Plc gets new Director.

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Prestige Assurance Plc has announced the appointment of Mrs Rekha Gopalkrishnan into its Board as a Non-Executive Director, with effect from September 13, 2021. The appointment has been ratified by the National Insurance Commission (NAICOM).

This is according to a notice issued by the Insurance firm, which partly reads: ‘’Prestige Assurance Plc (the Company) wishes to inform the Nigerian Exchange Limited (NGX), its shareholders and the investing public that the National Insurance Commission (NAICOM) has approved the appointment of Mrs Rekha Gopalkrishnan as a Non-Executive Director with effect from September 13, 2021.’’

About Mrs Rekha Gopalkrishnan

Mrs Rekha Gopalkrishnan is an accomplished insurer and administrator with over 35 years of experience. She started her working career with The New India Assurance Company Limited, Mumbai in 1985, and worked in various capacities in the Divisional and Regional offices. Her services in the aforementioned firm cuts across technical and administrative functions, she was also in charge of the Reinsurance functions in 2010, having garnered international business exposures with expertise in arranging placements of the reinsurance programmes. She was later promoted to the rank of a General Manager, where she became responsible for corporate communication department, reinsurance, credit insurance, government audit, investment, foreign business department and internal audit portfolios with functions of financial advisor. In 2019, she was appointed as Nominee Director of Stock Holding by GIPSA.

Rekha holds a bachelor and Masters degrees in Commerce.

What you should know:

  • Prestige Assurance Plc is a subsidiary of The New India Assurance Company Limited, Mumbai and was founded in 1952, with its headquarters currently situated in Lagos, Nigeria. The Nigerian based insurance company provides non-life insurance services, some of its product offerings include; motor, marine, bond, engineering, fire, aviation, oil and gas, and general insurance. The insurance firm also provides all risk insurance and products for group personal accident, burglary, fidelity guarantee, workmen’s compensation, machinery breakdown, fire and allied perils, consequential loss insurance and liability insurance.
  • The insurance firm closed trading today 23rd of September, 2021 with a share price of 47 kobo per share.

AIICO Insurance Plc: Notice of Board Meeting.

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AIICO Insurance Plc has announced that its Board of Directors will meet on Thursday, 21st of October 2021, to review and approve cogent issues affecting the company.

This is according to a notice signed by the company’s secretary, Donald Kanu, and sent to the Nigerian Exchange Group Limited (NGX).

According to the notice, the meeting will enable the Board Directors to review and approve the company’s unaudited financial statement for the nine months period ending 30th of September, 2021.

In addition, the Board will seize the opportunity to fix a date for its 2020 (51st) Annual General Meeting of the Company. Consequently, decisions reached at the meeting will be duly communicated.

Finally, the firm also announced that it will commence its closed period from 1st of October, 2021 until 24 hours after the company’s unaudited financial statement and outcome of the board meeting have been made public in line with Rule 17:17 of the Closed Period, Rulebook of the Exchange, 2015 (Issuers’ Rule) as amended.

It is important to state that during the closed period, all insiders and their connected persons are strictly prohibited from transacting the shares of the company.

Here is a link to the notice.

 

ABC Transport projects profit after tax of N30.08 million in Q4 2021.

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ABC Transport Plc released its earnings forecasts for the fourth quarter ending 31st of December, 2021.

  • Revenue is expected to hit N1.17 billon.
  • Cost of sales is projected at N839.4 million.
  • Marketing, distribution and administrative expenses projections of N288 million.
  • Tax is projected at N20.05 million.
  • Profit after tax is projected at N30.08 million.

See link to forecasts.

Secure Electronic Technology Plc announces sudden death of its Managing Director.

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Secure Electronic Technology Plc has announced the sudden death of its Managing Director, Oloye Jonathan A.O. Olopade (OFR).

His death was confirmed in a press statement that was signed by the Vice Chairman of the Company, Dr Odunlami Kola-Daisi, made available on the website of the Nigerian Exchange Limited.

Until his death, Chief Olopade was a distinguished business leader and astute administrator, who was tireless and unreserved in his commitment towards promoting the affairs of the Company he co-founded and served right till the end.

According to some of his colleagues on the Board, the late Chief Olopade left an indelible impact in their lives and would be best remembered for his integrity, dedication and exceptional leadership qualities.

In a bid to fill the void left by the departing boss, the Board seized the opportunity to announce the appointment of Mr Olusoji Oyeyemi as the new Managing Director/Chief Executive Officer of the Company. He would superintend the day to day affairs of the company.

Mr Olusoji Oyeyemi is a certified information technology systems expert with over 25 years of cognate industry experience in technology, marketing and analytics. He has a track record of conceptualizing and implementing business, commercial and analytical solutions. In this light, he brings a wealth of knowledge and experience in IT systems development, management and strategy, with a firm understanding of the lottery and Gaming industry from both technical and operational perspectives.

Similarly, the Board also appointed Mrs Irene Attoe as the new company secretary, effective 1st of September, 2021. Her appointment is sequel to the resignation of the former secretary, Ms Immaculata Mbaso.

Irene would manage the company secretariat and oversee compliance advisory to the Board and Management.

 

 

LivingTrust Mortgage Bank projects profit after tax of N182.56million in Q4 2021.

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LivingTrust Mortgage Bank Plc released its earnings forecasts for the fourth quarter of the year ending 31st of December, 2021.

  • Gross earnings projection of N762.9 million.
  • Interest income was projected at N686.9 million.
  • Interest expense was projected at N246.7 million
  • Fees and other income projection of N76 million.
  • Operating expenses projection of N211.4 million.
  • Tax was projected at N32.2 million.
  • Profit after tax was projected at N182.56 million.

See link to forecasts.

2021 H1 Results: Juli Plc reports half year loss of N15.7million.

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Juli Plc released its financial results for the half year period ended 3oth of June, 2021.

  • Turnover for the period was N190.8 million. (+50.5% YoY)
  • Cost of sales was N137.8 million. (+51.6% YoY)
  • Administrative expenses totalled N68.6 million. (+23.7% YoY)
  • Total assets at the period stood at N239.32 million.
  • A loss of N15.7 million was incurred during the period.

See link to results

Juli Plc reports a loss of N0.78m in Q1 2021.

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Juli Plc released its financial results for the first quarter (Q1, 2021) ended 31st of March, 2021.

  • Turnover for the period was N101.6 million. (+11.1% YoY)
  • Cost of sales was N72.64 million. (+7.9% YoY)
  • Administrative expenses totalled N29.75 million. (-24.4% YoY)
  • Total assets at the period stood at N229.2 million.
  • A loss of N0.78 million was incurred during the period.

See link to results

NAHCO Aviance Director Purchases additional 2.93m shares worth N7.94 million.

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Nigerian Aviation Handling Company Plc (NAHCO Aviance)has notified the Nigerian Exchange Group Limited that Mr. Akinwumi Godson Fanimokun, a Non-Executive Director in the firm, has acquired 2,926,410 additional units of its shares, worth ₦7.94 million.

This was revealed by the company’s secretary, Bello Abdullahi, in two separate disclosures made available on the website of the Nigerian Exchange Limited (NGX).

Details: In the first notice, Mr. Fanimokun spent a total of N3, 539,096.80 to acquire additional 1,416,410 units of the firm’s shares. The deal took place on the floor of the NGX in Lagos, between 9th and 10th of August, 2021.

Similarly, the details contained in the second notice uploaded on the website of the NGX revealed that the aforementioned director purchased additional 1,510,000 units of the firm’s shares for a sum of N4, 402,500.91. The deal was executed on the 13th, 14th and 16th of September, 2021.

Cumulatively, a total sum of N7, 941,597.71 was spent by the director to purchase an additional 2,926,410 units of the firm’s shares.

It is imperative to note that the disclosure is in line with the statutory requirements 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.

What you should know:

  • As at June 2021, Mr. Akinwumi Godson Fanimokun holds about 2,000,000 units of NAHCO Aviance Plc shares, translating to about 0.123% of the total shareholding in the company. The recent addition thereby raises his total shareholdings to 4,926,410 units.
  • NAHCO Aviance Plc’s share is currently trading at N3.12 on the floor of the Nigerian Exchange Limited (NGX).