Cutix Plc released its unaudited financial results for the first quarter of the year ended 31st of July, 2021.
See link to results.
Juli Plc released its unaudited financial statements for the period ended 31st of December, 2020.
See link to results.
R.T. Briscoe Nigeria Plc has confirmed the appointment of Sir Sunday Nnamdi Nwosu as substantive chairman of the company, with immediate effect.
In a statement filed with the Nigerian Exchange Limited (NGX), the firm revealed that the decision to confirm his appointment was taken during the recently concluded Board meeting of the company, held on the 26th of August, 2021.
The confirmation comes four (4) years after he was first appointed to the Board as an Acting Chairman on April 27, 2017. Confirming the recent development, the firm in a notice said: ‘’At the meeting of the Board of R.T. Briscoe (Nigeria) PLC (“the Company”) held on August 26, 2021, the Board, appointed Sir Sunday Nnamdi Nwosu who had previously served in acting capacity, as the Chairman of the Company with immediate effect. Sir Sunday Nnamdi Nwosu, Kss, GCOA, MIoD was appointed to the Board of R.T. Briscoe on March 27, 2014, and as acting Chairman on April 27, 2017.’’
In a similar development, the firm in a separate disclosure announced the appointment of Mr Michael Olabode as an acting Secretary of the Company. Mr Michael was appointed to replace the outgoing Secretary, Mr Olukayode Adeoluwa who recently announced his retirement from the firm, effective from the 31st of August, 2021.
Mr. Michael Olabode holds bachelor and masters’ degrees in law from the Obafemi Awolowo University, Ile-Ife and the Lagos State University, Ojo respectively. He is an Associate Member of the Chartered Institute of Arbitrators of Nigeria and had worked in private legal practice and some real estate companies before joining the Company in 2009 as Manager, Legal Services. He was appointed the Legal Adviser in 2012.
Zenith Bank Plc, one of Nigeria’s most capitalized financial institutions, has proposed to pay the total sum of N9.42 billion as interim dividends to its shareholders for the half year period ended 30th of June, 2021.
The company is expected to pay an interim dividend of 30 kobo per share on all the outstanding 31,396,493,786 ordinary shares of the company, amounting to N9.42 billion
This is according to a notice uploaded on the website of the Nigerian Exchange Limited (NGX) today, and signed by the company’s secretary, Michael Osilama Etu.
According to the disclosure, the interim dividend will be paid electronically to shareholders on the 20th of September, 2021, subject to appropriate withholding tax. Other pre-requisite conditions for payment are;
To facilitate the payment, the financial giant noted that its register of shareholders will be closed on 13th of September, 2021.
What you should know:
Golden Guinea Breweries Plc has announced the death of its Managing Director, Mr Ifeanyi Godfrey Idika, who passed away after a brief illness.
His death was confirmed in a press statement that was signed by the company’s secretary, Udo Ogaranya, and made available on the website of the Nigerian Exchange Limited (NGX).
An excerpts of the recent press statement read: ‘’Golden Guinea Breweries Plc. (the Company) wishes to inform its shareholders about the demise of its Managing Director, Mr Ifeanyi Godfrey Idika. He died on Tuesday, 10th August, 2021 in Umuahia, Abia State.’’
Consequently, in a bid to fill the void created by the sudden demise, the Board of Directors appointed Engr. Okechi N. Ndukwe as Acting Managing Director of the company. According to the notice, Engr. Ndukwe has been with the company for many years, occupying key positions such as the Technical Director.
What you should know about late Mr Idika
Mr Ifeanyi G. Idika is a seasoned Brewer and Manager. He was previously the Managing Director of Vitamalt Plc and served on the Board of Lawsons Corporation. He is a product of Kings College, the University of Lagos and the Graduate School of Business Administration of Harvard University, Boston USA. The late Mr Idika had extensive training attachments with various international brewing groups like the Whitbread Group in the UK, the Pripps Group in Sweden, the Stella Artois Group in Belgium and the Cerekem Group in Denmark.
Mr. Idika was appointed as Managing Director of Golden Guinea Breweries Plc on June, 2018. He is survived by his wife and children.
May his gentle soul rest in perfect peace.
Zenith Bank Plc released its interim financial statements for the six months period ended 30 June, 2021.
See link to results.
Guinness Nigeria Plc released its full-year audited financial statement for the year ended 30th of June, 2021.
See link to results.
The Board of ABC Transport Plc has announced that it will be hosting its 28th Annual General Meeting on the 17th of September, 2021.
According to a disclosure signed by the company’s secretary, Onyekachukwu Chigbo, the AGM will hold at Mayfair Suites and Conference Centre, Owerri-Imo State, on the aforementioned date and by 11:00am prompt.
The following issues will be addressed at the AGM;
What you should know:
For more information about the AGM, click HERE.
Preline Limited has announced the acquisition of 794,969,774 units of shares, representing about 60.98% of the total shareholdings in Eterna Plc.
The acquisition is following a unanimous decision by some substantial shareholders in Eterna Plc to sell their equity holdings in the company. The substantial shareholders who sold their equity holdings are; Lenux Integrated Resources Limited, Global Energy & Raw Materials Limited, Meristem Wealth Management Limited, Radix Capital Partners Limited, GASL Nominee Limited, GTI Capital Limited and Cardinalstone Partners Limited.
According to a statement signed by the company’s secretary, Bunmi Agagu, and made available on the website of the Nigerian Exchange Limited (NGX), the aforementioned substantial shareholders divested through a Sale and Purchase Agreement (SPA) that was executed to enable Preline Limited to become the new major shareholder.
Confirming the recent development, Eterna Plc in a notice filed with the Exchange stated that: ‘’We refer to Eterna Plc’s (“the Company”) public statement dated 21st December, 2020 in which we notified our Shareholders, The Nigerian Exchange Limited (“NGX” or “The Exchange”) and the general public that some of our substantial shareholders (Shareholders) have formally informed the Board of Eterna Plc (the Company) that they are in negotiations to sell equity holdings in the Company to a ‘New Investor’.
‘’Our substantial shareholders; Lenux Integrated Resources Limited, Global Energy & Raw Materials Limited, Meristem Wealth Management Limited, Radix Capital Partners Limited, GASL Nominee Limited, GTI Capital Limited and Cardinalstone Partners Limited have executed a Sale and Purchase Agreement (SPA) that enables Preline Limited acquire 794,969,774 (Seven Hundred and Ninety Four Million Nine Hundred and Sixty Nine Thousand Seven Hundred and Seventy Four) shares of Eterna Plc representing 60.98% in the Company.’’
The firm further added that it will file a formal application with the Securities and Exchange Commission (SEC) for an ‘’authority to proceed’’ with the transaction by the transacting parties. It also rationalized the announcement of the deal, noting that‘’ Is in fulfillment of our obligation to report such matters and we will continue to do so in line with Regulatory guidelines.’’
Back story: The aforementioned shareholders had earlier announced plans to divest their equity holdings to a new investor. Consequently, a Board of Directors meeting was convened to deliberate on the matter. Sequel to this, the Board on 21st of December, 2020, announced that it has ratified the decision by these shareholders to divest.
LivingTrust Mortgage Bank has given update on its free float- which represents the portion of its shares in the hands of public investors as opposed to locked-in shares held by insiders or investors with controlling-interest.
In a recent notice signed by the company’s secretary, Timothy Gbadeyan, the mortgage bank revealed that it has secured a two-year grace period from the Nigerian Exchange Limited (NGX), valid till 20th of August 2023, to meet up with the statutory free-float requirements for listed companies.
The extension is to enable the firm meet up with the free float requirements of 20% issued and fully paid share capital or N20 billion free float market capitalization for companies listed on the NGX Main Board.
In a bid to address the free float deficiency, the firm also announced that its majority shareholders pledged to make available 750,000,000 ordinary shares of the company for trading to members of the public. In addition, the bank revealed that it will hold a ‘facts behind the figures session’ and an earnings call, among other activities to showcase the company’s performances during the grace period
In conclusion, it is pertinent to note that based on the provisions of Rule 3.1.4 of the Exchange’s Rules Governing Free Float Requirements for Listed Companies, NGX reserves the right to suspend trading in the company’s securities if it fails to achieve the required free float threshold within the extended period.
What you should know: