Chidi Emenike – Page 44 – NAIRAMETRICS| COMPANY EARNINGS

Wole Onasanya resigns as a Director from the Board of Veritas Kapital Assurance Plc.

2 June 20212 June 2021 Chidi Emenike Leave a comment

The Board of Veritas Kapital Assurance Plc has announced the resignation of Mr Wole Onasanya as an Executive Director of the company.

This announcement was made in a notification issued by the Company Secretary, Saratu Umar Garba, as seen by Nairametrics.

According to the notice, the resignation of Mr Onasanya as an Executive Director (Finance and Investment) from the Board of Veritas Kapital Assurance Plc became effective on 31st of May, 2021. His resignation was considered and ratified during the 179th Board meeting of the company held on the 29th of April, 2021.

In this light, the Board and Management of the company wishes him all the best in his future endeavours.

About Mr Wole Onasanya

Wole Onasanya is an investment, finance and insurance executive with several years of experience. His areas of technical competence include; M&A, financing, strategic planning, corporate development and entrepreneurship.

Onasanya is a graduate of the prestigious University of Ibadan and Northwestern University (Kellogg School of Management), where he obtained a Bachelors’ degree in Economics and an MBA respectively. He was appointed into the Board of Veritas Kapital Assurance Plc as an Executive Director in October 2019.

Japaul Gold and Ventures Plc reports loss of N996.7 million in FY 2020

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Japaul Gold and Ventures Plc released its full-year audited financial statements for the year ended 31st December, 2020.

Revenue for the period was N689.6 million. (-4.94% YoY)
Administrative expenses totalled N1.12 billion. (+75.95% YoY)
An operating loss of N826.44 million was incurred during the period.
Loss from continuing operations was N996.7 million. (-102.4% YoY)
Loss from discontinued operations was N1.18 billion.
Loss per share of -19 kobo. (-102.91% YoY)
No dividend announcement was made.

See link to results.

Eterna Plc projects profit after tax of N303.8 million in Q3 2021.

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Eterna Plc has released its earnings forecasts for the third quarter of 2021 (Q3 2021).

Revenue is projected to hit N53.8 billion.
Cost of sales is projected at N49.44 billion.
Marketing, distribution and admin expenses are projected to hit N2.79 billion.
Tax is projected at N446.79 million
Profit after tax is projected at N303.82 million.

See link to forecasts.

Japaul Gold reschedules Board meeting to June 1st

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The Board of Japaul Gold and Ventures Plc has rescheduled its Board meeting originally scheduled to hold on the 30th of March to 1st of June, 2021

This is according to a recent disclosure by the company which reads: ‘’Please be informed that the Board Meeting earlier scheduled pursuant to the approval obtained from the Exchange to hold on the 30th March, 2021 to receive and consider the Audited Financial Statements of the company for the period ended December 31, 2020 has been rescheduled for the 1st June, 2021.’’

On the other hand, despite the shift in the date for the board meeting, the firm however did not adjust its close period. It maintained its earlier stance that the close period remains 27th of March, 2021.

Recall that Japaul Gold had earlier announced that it will hold a virtual board meeting on the 30th day of March, 2021 by 10:00am. The meeting which is scheduled to be held via zoom is expected to consider among other things, the audited financial statements of the firm for the period ended December 31, 2020.

The firm in April 2021 notified shareholders and other relevant stakeholders, of its inability to file its audited financial statements for the year ended 31 December 2020 as expected which was due for submission on the regulatory date of 31st of March, 2021. The firm attributed this delay to the impact of the COVID-19 pandemic which slowed down the company’s operational bases and as a result of which key officers are indisposed.

It is pertinent to note that the firm is yet to release its FY 2020 results. In this regard, the firm assured stakeholders that the audit exercise is still in process and that all measures will be taken to ensure that the result is filed in good time.

Beta Glass Plc to hold Annual General Meeting on 1st of July

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The Board of Beta Glass Plc has announced that it will be hosting its 47th Annual General Meeting on the 1st of July, 2021.

This is according to a notification signed by the company’s secretary, Bola Adebisi, and seen by Nairametrics. Sequel to this, the following issues will be discussed;

The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
The firm’s proposed dividend will be considered and approved. It is worthy to note that If ratified, the dividend will become payable on 2nd of July, 2021.
Board appointments will also be considered and ratified.
To fix remuneration of managers and Directors in FY 2021.
To elect shareholders’ representatives of the statutory audit committee.
To renew general mandate for related party transactions.

What you should know:

Beta Glass Plc had earlier reported a profit after tax of N3.47 billion in FY 2020.
In line with CAC guidelines, attendance at the AGM will be by proxy.
The link for the Annual General Meeting will be made available on the company’s website: http://www.frigoglass.com/beta-glass-investors/

For more information about the AGM, click HERE.

Prestige Assurance approves dividend worth N331.3 million to shareholders, set to raise additional capital of N3.4 billion

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The Board of Prestige Assurance Plc has approved the sum of N331.3 million as dividends to be paid to shareholders for the period ended December 2020. This is in addition to a plan of raising an additional capital of N3.4 billion at a price and quantum to be determined by the Directors.

These decisions are part of the resolutions reached during the recently concluded Annual General Meeting of the firm, held on the 26th of May, 2021.

An abstract of the ordinary resolutions reached during the AGM reads: ‘’ A dividend of 02.5k per 50k ordinary share, amounting to a gross dividend of N331,314,047.20 out of Profit After Tax for the twelve months ended 31st December 2020 be and is hereby declared payable to shareholders whose names appear in the Register of Members as at the close of business on Monday 17th May 2021.’’

Other resolutions reached at the Annual General Meeting include;

The appointment of Dr Adedoyin Salami and Mrs Funmi Oyetunji into the company’s Board as Directors were reviewed and approved.
The remuneration of the Non-Executive Directors for the year ending 31st December, 2021 was fixed at N14, 300,000.

What you should know:

Recall that Prestige Assurance Plc had earlier reported a profit after tax of N649.66 million in FY 2020.

For more information about the disclosure, click HERE.

NPF Microfinance Bank approves FY 2020 dividend worth N457.3million to shareholders.

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NPF Microfinance Bank Plc has approved the sum of N457.3 million as dividend to be paid to the shareholders who currently hold the 2,286,637,766 fully paid ordinary shares of the bank.

This disclosure is part of the resolutions passed at the 27th Annual General Meeting of the bank, held on the 27th of May, 2021.

According to the notice: ‘’ A dividend of 20k per ordinary share of 50k recommended in the Report of the Directors for the year ended 31st December, 2020 be and is hereby payable to Shareholders whose names appeared in the Register of members at the close of business on Thursday 6th May 2021 .’’

Other resolutions reached at the Annual General Meeting include;

The appointment of Messrs. Abdulrahman Satumari, Salihu Argungu Hashimu and Mrs. Rakiya Edota Shehu into the company’s Board were reviewed and approved.
Directors annual fees for the year ending 31st Decemeber 2021, was fixed at N25, 000,000.
The Directors were also authorized to allot all outstanding unissued shares of the company, in the event of over subscription of the 3,000,000,000 units of shares earlier approved to be offered by the company.

What you should know:

Recall that NPF Microfinance Bank Plc had earlier reported a profit after tax of N614.4 million in FY 2020.

For more information about the disclosure, click HERE.

Caverton Offshore Support Group Plc declares FY gross dividend of 10 kobo per share.

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The Board of Caverton Offshore Support Group Plc has approved a dividend payment of 10 kobo per share to shareholders who currently hold the 3,350,509,750 fully paid ordinary shares of the company.

This notice is part of the resolutions reached at the recently concluded 12th Annual General Meeting of the company held on 27th of May, 2021.

In light of this, a total of N335.05 million will be disbursed as dividend for the aforementioned period.

Recall that Caverton Offshore Support Group Plc suffered a dip in its key financial metrics for the year ended 2020. Profit after tax declined by 73% to N1.18 billion. Others like revenue, earnings per share, etc., all dipped during the aforementioned period.

Consequently, a lower dividend of 10 kobo per share was proposed. This is about 50% less than the proposed figure of 20 kobo in corresponding period last year (FY 2019)