AGM Watch: Honeywell Flour Mills Plc Shareholders Approve N555.1 million Dividend.

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 Giwasaid 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;

  • The following Directors: Mr. Alan Palmer, Mr. Oluranti Sokunbi and Mrs. Wonuola Adetayo be re-elected as Directors of the Company.
  • That the following individuals be elected into the Statutory Audit Committee; Mr. Adebayo Adeleke, Mrs. Morenike Omilabu and Mr. Ogundipe John Afolabi (representing the Shareholders) and Mr. Andrew Smith-Maxwell and Mrs. Wonuola Adetayo (representing the Board).
  • Directors were authorized to fix the remuneration of the independent auditors of the company- Bakertilly Nigeria

What you should know:

  • Recall that Flour Mills of Nigeria Plc had reported a profit after tax of N1.13 billion for the year ended 31st of March, 2021, indicating a surge of 76% YoY. The firm’s revenue also grew by 36% to N109.6 billion. Consequently, the firm declared a dividend of 7 kobo per share, which is up by 75% YoY.
  • Honeywell Flour Mills of Nigeria Plcis currently trading at N3.69 on the floor of the NGX

 

Meyer Plc grows profit by 109% to N9.5 million in 9M 2021.

Meyer Plc released its unaudited financial statements for the nine months period ended 30th of September, 2021.

  • Revenue for the period was N759.2 million. (+34% YoY)
  • Cost of sales was N504.7 million (+40% YoY)
  • Administrative expenses totalled N323.4 million. (-8% YoY)
  • Total assets for the period stood at N2.05 billion
  • Profit for the period was N9.47 million. (+109% YoY)
  • Earnings per share of 2 kobo. (+110% YoY)

See link to results.

May & Baker Nigeria Plc announces board meeting, closed period ahead of Q3 2021 results.

May & Baker Nigeria Plc has announced that its board of directors will meet on 27th of October, 2021 to consider and approve the unaudited financial results of the company 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 Company’s secretary, Mrs. Adetoun Abiru and sent to the Nigerian Exchange Limited (NGX).

It is pertinent 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.

 

International Breweries Plc announces board meeting, closed period.

International Breweries Plc has announced that its board of directors will meet on Wednesday 27h of October, 2021 to deliberate on the company’s unaudited financial results for the period ended September 30, 2021 and other related matters.

Consequently, the company announced that it has already commenced a closed period from September 30, 2021. The closed period is expected to persist until 24 hours after the firm’s unaudited financial statements have been filed with the Nigerian Exchange Group Limited and made public.

This is according to a disclosure signed by the company’s secretary, Muyiwa Ayojimi and sent to the Nigerian Exchange Group Limited (NGX).

It is pertinent 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.

 

Guinness Nigeria Plc extends dividend payment date by a week, reschedules AGM

The Board of Directors of Guinness Nigeria Plc has extended the timeline for the payment of its FY 2020 final dividend by a week, from an initial proposed date of 20th of October to 27th of October, 2021.

This is according to a recent notice sent to the Nigerian Exchange Group Plc (NGX) and captioned: ‘’Update on Corporation Actions Announcement,’’ as seen by Nairametrics.

 Key findings from the recent notice revealed that;

  • The proposed amount of N0.46k per share remained the same in both notifications.
  • The qualification date also remained unchanged, retaining the earlier date of 28th of September, 2021.
  • However, the date for the Company’s Annual General Meeting was rescheduled to 26th of October as against an initial date of 19th of October, 2021.

Recall that Guinness Nigeria Plc had earlier earmarked a total sum of N1.01 billion as final dividend to be paid to the shareholders of the company who currently hold the 2,190,382,819 fully paid ordinary shares of the company.

For more information about the recent disclosure, click HERE.

 

Ellah Lakes reschedules Annual General Meeting (AGM) to November 22.

Ellah Lakes Plc has notified shareholders and the general public, of a change in the date of its forthcoming Annual General Meeting (AGM) earlier scheduled to hold on 8th of October, 2021.

According to a notice issued by the company dated 5th of October, 2021 and filed with the Nigerian Exchange Limited (NGX), the AGM will now hold on Monday, 22nd of November, 2021 at 11:00 am prompt.

The company had earlier disclosed that the forth coming AGM was scheduled to consider the proposed listing of the company shares on the London Stock Exchange (LSE) and approve its audited financial statements for the year ended July 31, 2021, among other topical issues.

Consequently, the date for the closure of its register and transfer books was moved from an initial dates of September 20-24, 2021 (with both dates inclusive) to November 8-12, 2021 (both dates inclusive).

What you should know:

  • Ellah Lakes Plc opened trading today 8th of October, 2021 with a share price of N4.25 on the floor of the Nigerian Exchange Limited (NGX).

See link to recent disclosure.

CAP Plc appoints UACN GMD, Folasope Aiyesimoju as Non-Executive Director.

Chemical and Allied Products Plc (‘’CAP Plc’’) has appointed Mr Folasope Aiyesimoju into its Board as a Non-Executive Director, effective from October 5, 2021.

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

According to the disclosure, the appointment is subject to the approval of the company’s shareholders at its next Annual General Meeting (AGM).

About Mr Folasope Aiyesimoju

Mr. Aiyesimoju is a finance expert with cross-national experience spanning corporate finance, principal investing and private equity. He is currently the Group Managing Director of UAC of Nigeria Plc (“UACN”), and also the founder of Themis Capital Management, an investment firm focused on concentrating capital and talent on high-potential opportunities in Sub-Saharan Africa.

Prior to founding Themis, he worked with Kohlberg Kravis Roberts, a leading global investment firm. His experience also includes working with the Standard Bank Group, where he led mergers and acquisitions in Nigeria. He spent the early part of his career with Ocean and Oil Holdings Limited, a principal investment firm in Nigeria and ARM Investment Managers, one of Nigeria’s leading investment advisory and wealth management firms.

Mr. Aiyesimoju co-founded Foodpro Limited, a nutritional snacks business focused on edible nuts, where he currently serves as a non-executive director. He also sits on the Boards of MDS Logistics Limited, Grand Cereals Limited, UAC Foods Limited and UPDC Plc.

Mr. Aiyesimoju holds a B.Sc. (Hons) degree in Estate Management from the University of Lagos, where he was awarded a Certificate of Excellence in Real Estate Development and Finance, and earned the right to use the CFA designation in 2006

Presco Plc announces board meeting, closed period ahead of Q3 2021 results.

Presco Plc has announced that it will be hosting a Board of Directors meeting on Wednesday, 27th of October, 2021.

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

According to the disclosure, the meeting will avail the board members the opportunity to effect board changes and approve the draft unaudited financial statements of the company for the period ended Thursday, 30th of September, 2021. In addition, the Board will also consider and decide on the proposed payment of interim dividends for the aforementioned period.

Consequently, the company declared that it has commenced a closed period from 1st of October, 2021, in line with the statutory provisions for listed companies on the NGX platform. The closed period will last until 24 hours after the release of the unaudited financial results to the public.

The company also disclosed that its unaudited financial results for the aforementioned period will be uploaded on the website of the NGX on or before Saturday, 30th of October, 2021.

Note that during the closed period, insiders of the company comprising of directors, managers, employees and all their connected persons, are strictly prohibited from transacting in the shares of the company.

To access the notice, click HERE.

Okomu Oil Palm Company Plc: Notice of Board Meeting.

Okomu Oil Palm Company Plc have notified shareholders, the Nigerian Exchange Limited (NGX), the investing public and other relevant stakeholders of its imminent Board of Directors meeting scheduled to hold on Friday 29th of October, 2021 at 8:00am prompt.

According to a statement issued by the company today, the meeting will avail board members the opportunity to consider and approve the unaudited financial statement of the company for the third quarter of the year ended 30th of September, 2021 (Q3, 2021) and a possible declaration of an interim dividend.

Confirming this, excerpts of the recent press release issued by the company read thus: ‘’The Okomu Oil Palm Company Plc (the Company) wishes to inform the Nigerian Exchange Limited (the Exchange), its shareholders and the investing public that the Board of Directors of the Company is scheduled to meet on Friday 29th October, 2021 at 8:00am to consider amongst other things, the 2021 Q3 Unaudited Financial Statement of the Company for the period ended 30 September 2021 and the possible declaration of an interim dividend.’’

Consequently, in line with provisions of Rule 17.18(a) Close Period, Rulebook of the Exchange, 2015 (Issuers’ Rule) as amended, the Company commenced a Closed Period from Friday, 1 October 2021 for trading in its shares by Directors, Employees, Advisers, Consultants and their connected persons and any other person(s) with insider information until 24 hours after the announcement of the 2021 Q3 unaudited financial statement to the market.

To access the disclosure, click HERE.

Nigerian Breweries Plc: Notice of Board Meeting.

Nigerian Breweries Plc has notified its shareholders, the investing public and other relevant stakeholders that it will be hosting a Board of Directors Meeting on Thursday, October 28, 2021.

This is according to a notice signed by the company’s secretary, Uaboi Agbebaku, and filed with the Nigerian Exchange Limited (NGX).

According to the notice, the board meeting is scheduled to enable the Directors consider and approve the company’s unaudited accounts for the third quarter of the year ending 30th of September, 2021.

Consequently the company will be observing a closed period from September 28, 2021 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.