Northern Nigeria Flour Mills Plc released its unaudited financial results for the second quarter of the year (Q2, 2021) ended September 30, 2021.
See link to results.
Transcorp Hotels Plc has notified its shareholders, the investing public and other relevant stakeholders that it will be hosting its 81st Board of Directors Meeting on Thursday, November 4, 2021.
This is according to a notice signed by the company’s secretary, Kofo Olokun-Olawoyin, and filed with the Nigerian Exchange Limited (NGX).
According to the notice, the board meeting is scheduled to enable the Directors review and approve the company’s unaudited financial accounts for the third quarter of the year (Q3, 2021) ended 30th of September, 2021.
In addition, the company revealed that the Q3 2021 unaudited financial statements of the company will be filed on or before 30th of October, 2021.
It is pertinent to note that in line with the post-listing requirements of the NGX, the company has already commenced a closed period from October 1, 2021. The closed period will persist until 24 hours after the financial results have been released to the NGX and made public. During the closed period, all insiders and their connected persons are prohibited from trading (i.e buying, selling, transferring or otherwise dealing) in the company’s shares.
For more information about the disclosure, click HERE.
Ecobank Transnational Incorporated (ETI) has announced that its board of directors will meet on 2nd of December, 2021 to consider and approve the unaudited financial results of the Bank for the third quarter of the year (Q3) ended September 30, 2021.
Consequently, the firm also announced that it has commenced a closed period in the trading of its shares from October 1, 2021. The closed period will persist until 24 hours after the firm’s unaudited financial statements have been filed with the Nigerian Exchange Group Limited (NGX) and made public.
This is according to a disclosure signed by the Bank’s secretary, Madibinet Cisse and sent to the Nigerian Exchange Limited (NGX).
It is imperative to note that the closed period is in line with Rule 17.18(a) (Closed Period Rules) of the NGX’s Rule Book (2015). During this period, individuals with sensitive information about stock performance such as; Directors, managers, employees, consultants and their connected persons, are prohibited from trading in the shares of the bank either directly or indirectly.
For more information about the board meeting, click HERE.
The Board of LivingTrust Mortgage Bank Plc., has announced the voluntary resignation of their Executive Director in charge of operations, technology and satellite business, Mr. Oyewole Olowu.
According to a statement signed by the Bank’s Secretary, Timothy Gbadeyan, and filed with the Nigerian Exchange Limited (NGX), the aforementioned director resigned in order to pursue other personal interests. Consequently, the Board accepted and approved his resignation during its recent Board meeting which held on 15th of October, 2021.
The recent disclosure issued by the Bank read: ‘’This is to notify the Nigerian Exchange Limited (The Exchange) and members of the public, particularly the shareholders of LivingTrust Mortgage Bank Plc (the Bank) that one of the Executive Directors of the Bank, Mr. Oyewole Olowu, has voluntarily resigned his position
‘’Until his resignation, Mr. Olowu was the Executive Director in charge of Operations, Technology and Satellite Business. He resigned in order to pursue other personal interests. The resignation of Mr. Olowu was accepted by the Board of Directors of the Company at its meeting of Friday 15th of October, 2021.’’
About Mr. Oyewole Olowu
Oyewole Olowu is a versatile Mortgage banker with over 15 years of experience in Banking Operations, e-banking, Credit, Business Development and Retail banking. His experience cuts across both the public sector and the banking industry. Prior to joining LivingTrust Mortgage Bank, he had gained valuable work experience from Resort Savings and Loans Plc, Lagoon Homes Savings and Loans Limited and the Federal Ministry of Science & Technology, among others.
He is a graduate of Accounting from the Lagos State University. He also holds an MBA (Finance) and is an Honorary Fellow of the Institute of Corporate Administration (FCAI)
UPDC Plc released its unaudited financial results for the nine months period ended 30th of September, 2021.
See link to results.
Capital Hotels Plc has announced that it will be hosting a Board of Directors Meeting on Tuesday, 26th of October, 2021. The meeting is principally to consider and approve the company’s unaudited financial statements for the third quarter ended 30th of September, 2021.
This is according to a notice signed by the company’s secretary, Alex Ugwuany, and filed with the Nigerian Exchange Limited (NGX).
Consequently, in line with the provisions of rule 17.18(a): the Closed Period Rulebook of the Exchange, 2015 (Issuers’ Rule) as amended, the company announced that it had already commenced a closed period for trading in its shares on Friday, 1st of October, 2021. The closed period will persist until 24 hours after the unaudited account of the company for the aforementioned period have been filed with The Exchange (NGX) and made public.
It is imperative to note that during the closed period, directors, managers, consultants, employees of the company and their associated persons are strictly prohibited from transacting in the company’s shares (that is, buying or selling in the company’s shares).
For more information about the disclosure, click HERE.
Eunisell Interlinked Plc. released its unaudited financial statements for the first quarter of the year (Q1, 2021) ended 30th of September, 2021.
See link to results.
Fidelity Bank Plc is considering raising about $500 million from the international debt capital market, through the issuance of 5-Year unsecured notes, in a bid to support its trade finance business and meet up with its general and working capital requirements.
This is according to a statement signed by the Bank’s Secretary, Ezinwa Unuigboje, and filed with the Nigerian Exchange Limited (NGX).
According to the disclosure, the bank intends to list the Notes on the Irish Stock Exchange, with the expectation that the Notes will be traded on its regulated market. In view of this, the Securities and Exchange Commission has confirmed that it will not object the transaction.
To facilitate the transaction, the bank announced that it will be hosting a series of investors’ meeting which is billed to commence from October 18, 2021. The bank also added that the final decision on whether to proceed with the transaction or not, will be subject to finalising the necessary transaction documentation and prevailing market conditions.
Commenting on the recent development, the recent press release issued by the firm read: ‘’Fidelity Bank Plc (the ‘’Bank’’) is considering raising capital from the international debt capital market through an unsecured notes issuance, proceeds of which are intended to be used for general corporate purposes including supporting its trade finance business (the ‘’Transaction’’).
The proposed aggregate offer size is U.S.$500,000,000 (Five Hundred Million United States Dollar), due 2026, which will when issued rank parri passu, without preference among themselves, with all other unsecured and unsubordinated obligations of the Bank (the ‘’Notes’’). The Company intends to list the Notes on the Irish Stock Exchange, with the expectation that the Notes will be traded on its regulated market. The Securities and Exchange Commission has confirmed that it has no objection to the Transaction.
In view of the foregoing, the Bank is pleased to notify the Nigerian Exchange Limited of Planned investor meetings with respect to the Transaction scheduled to commence today October 18, 2021.’’
Recall that similarly, Access Bank had recently concluded the issuance of a 5-Year senior unsecured note worth $500 million.
UAC of Nigeria Plc has announced the retirement of Dr. Okechukwu John Mbonu from its Board as a Non-Executive Director, effective October 15, 2021.
This is according to a disclosure signed by the Company’s Secretary, Nkemdirim Agboti, which partly reads: ‘’ UAC of Nigeria PLC (“the Company”) wishes to inform the Nigerian Exchange Limited, and the investing public that Dr. Okechukwu John Mbonu, a Non-Executive Direcor of the Company, has retired from the Board of Directors (“the Board”), effective October 15 2021.’’
About Dr. Okechukwu Mbonu
Dr. Okechukwu John Mbonu is an experienced executive manager with history of hand-on experience in senior management and consulting positions. He has strong entrepreneurial skills and competencies in business strategy, planning, transformation, marketing & sales operations, governance, among others. He is currently a partner in Execution Edge Limited, an innovative and value-focused advisory firm based in Nigeria.
Dr. Mbonu was appointed to the Board of UAC of Nigeria Plc., on the 25th of November, 2015. He also served as a member of the Governance and Remuneration Committee of the Company until his retirement. Prior to joining the Board, Dr. Mbonu had served in various leadership positions in renowned institutions, such as: PricewaterhouseCoopers (PWC) Nigeria, Cutix Plc, Nigerian Breweries Plc., among others.
He attended the prestigious University of Manchester, UK, where he obtained a Bachelor’s (Distinction) and Master’s degrees in Mechanical Engineering. In addition, he is a fellow of the Nigerian Society of Engineers and the Nigerian Academy of Engineering.
Meanwhile, UAC of Nigeria Plc., closed trading today 18th of October, 2021 with a share price of N10.85 per share.
The shareholders of Honeywell Flour Mills of Nigeria Plc, have approved the sum of N555.11 million as final dividend for the year ended 31st of March, 2021. This amount translates into a final pay out of 7 kobo per share to shareholders.
A notice sent to the Nigerian Exchange Limited (NGX) today, acknowledged by the company’s secretary, Yewande Giwa, said the decision was made during the recently concluded 12th Annual General Meeting (AGM) of the company which held at Civic Centre, Victoria Island, Lagos on the 14th day of October, 2021.
Excerpts of the resolutions reached at the AGM read: ‘’That a final dividend of 7 kobo per share, subject to tax, be declared in respect of the year ended 31st of March, 2021, and made payable by 14th October, 2021 to members whose names appear in the Register of Members as at close of business on 3rd September, 2021.’’
Other vital resolutions the company made in the course of the meeting were;
What you should know: