Category: Consumer Goods

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CBO Capital Partners Limited sells off 26.62 million units of Ellah Lakes shares worth N113.16m.

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CBO Capital Partners Limited, a substantial shareholder, has offloaded some of its stakes in Ellah Lakes Plc.

In a statement signed by the company’s secretary, Kenechi Ezezika, and sent to the Nigerian Exchange Limited (NGX), the company disclosed that it sold about 26,624,751 units of Ellah Lake’s shares in its portfolio, at a unit price of N4.25, amounting to N113, 155,191.75.

This disclosure is in line with The Exchange’s policy on insider dealings, aimed at upholding the integrity of the financial system and maintaining public trust.

Back story:

Nairametrics had earlier reported that CBO Capital Partners Limited and two (2) other substantial shareholders had agreed to sell off 25% of their shares held in Ellah Lakes Plc. The substantial shareholders agreed to carry out the drastic decision owing to the reduction in the free float of the company occasioned by the acquisition of Telluria in 2019. The acquisition reduced the company’s free float to about 13%.

Therefore in a bid to put more shares of the company in the hands of the public and resolve the lack of liquidity in the shares of Ellah Lakes, substantial shareholders- CBO Capital Partners Limited, Blackman & Co, and Osaro Oyegun resolved to sell down 25% of their holdings in the company. The action of the shareholders will also help Ellah Lakes match the NGX’s free float benchmark of 20%.

What you should know:

  • As at April 2021, CBO Capital Partners Limited holds about 564 million units of shares in Ellah Lakes Plc, translating to about 28.2% of the total shareholding.
  • Ellah Lakes Plc closed trading today 19th of August, 2021 with a share price of N4.25.

 

 

 

 

Tripple Gee & Company Plc: Notice of Annual General Meeting.

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The Board of Tripple Gee & Company Plc has announced that it will be hosting its 31st Annual General Meeting (AGM) in Lagos on the 9th of September, 2021.

According to a notice signed by the company’s secretary, Mrs. M. Adenike Sode and sent to the Nigerian Exchange Group Limited (NGX), the meeting will hold at Sun Heaven Hotels & Resort  in Ikoyi-Lagos on the aforementioned date and by 10:00am prompt.

In light of this, the following issues will be discussed;

  • The audited financial statement for the year ended March 31, 2021, and the report of its Directors, auditor, and the audit committee.
  • To consider and approve the dividend recommended by the Board
  • 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.

For more details about the AGM, click HERE.

Nestlé S.A acquires additional shares of its Nigerian subsidiary worth N2.61 billion.

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Nestlé S.A, the parent company of Nigeria’s largest consumer goods company, Nestlé Nigeria, has increased its stake in its Nigerian subsidiary with the acquisition of shares worth N2.61 billion.

According to a recent notice filed with the Nigerian Exchange Limited, the Swiss multinational firm bought an additional 1,870,348 units of Nestle Nigeria shares at a price of N1, 393 per share. This puts the total purchase consideration for the shares of Nestlé Nigeria by the Swiss multinational at N2, 605, 394, 76.

The recent transaction occurred in two tranches between 16th and 17th of August, 2021. The breakdown of the transactions is as follow;

  • In the first tranche, Nestlé S.A purchased 339,471 units of the Nigerian subsidiary’s shares at a price of N1, 388.6476, amounting to N471, 405,589.4.
  • In the second and last tranche which occurred on the 17th of August, the Swiss multinational firm purchased a further 1,530,877 units of the latter’s shares at a price of N1,399.1446, totaling N2,141,918,287.8

Recall that the Multinational firm had earlier in this month purchased 125,513 units of its Nigerian subsidiary shares, worth N175.2 million. The recent transaction further raises the stake of the parent company in its Nigerian subsidiary and is a demonstration of strong confidence in the opportunities that abound in the local consumer goods sector.

What you should know:

  • As at 30th of June 2021, Nestlé S.A owns about 533,270,982 units of ordinary shares in Nestlé Nigeria Plc, translating to a majority shareholding of about 67.28%.
  • Nestlé Nigeria Plc is currently trading at N1,387 per share on the floor of the Nigerian Exchange Limited (NGX).

 

 

 

 

PZ Cussons Nigeria Plc: Notice of Board Meeting

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PZ Cussons Nigeria Plc has announced that it will be hosting a Board meeting in Lagos on the 26th of August, 2021.

This is according to a notice issued by the company and sent to the Nigerian Exchange Group Limited today.

According to the notice, the meeting will enable the Board Directors to consider the company’s audited financial statement for the year ended 31st of May, 2021. Decisions reached at the meeting will be subsequently communicated.

In addition, the firm also announced that it has commenced a closed period from 1st of June 2021 until 24 hours after the company’s financial statement and outcome of the board meeting have been made public in line with the Rulebook of the Nigerian Exchange Limited.

Here is a link to the notice.

International Breweries Director purchases additional 8.35m shares worth N41.7 million.

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International Breweries Plc has notified the Nigerian Exchange Group Limited that Mr. Michael Onochie Ajukwu, a Non-Executive Director in the firm, has acquired 8,346,021 additional units of its shares, worth ₦41.7 million.

The disclosure which is in line with The Exchange’s policy on insider dealing was signed by the company’s secretary, Muyiwa Ayojimi.

According to the notice, Mr. Ajukwu acquired additional 8.35 million units of International Breweries shares at ₦5.00 per share. This put the total consideration for the shares purchased by the non-executive director at ₦41,730,105.

The deal was finalized in two tranches on 4th and 5th of August, 2021. The breakdown of the deal shows that;

  • About 99.5% of the recent total acquisition, translating to about 8,308,421 units of shares were purchased on the first day of the transaction at the rate of N5 per share, amounting to N41,542,105.
  • On the last day of transaction (5th of August, 2021), 37,600 units were further purchased at N5 per share, totalling N188,000.

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. Michael Onochie Ajukwu holds about 62,000,000 units of International Breweries shares, translating to about 0.23% of the total shareholding in the company. The recent addition thereby raises his total shareholdings to 70,346,021 units.
  • International Breweries Plc’s share is currently trading at N5.00 on the floor of the Nigerian Exchange Limited (NGX).

 

Flour Mills of Nigeria Plc declares N6.8 billion as final dividend for 2020.

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The Board of a leading food and agro allied company, Flour Mills of Nigeria Plc (FMN), has announced the payment of N6.8 billion to its shareholders as the final dividend for the period ended 31st of March 2021.

According to a notice filed with the Nigerian Exchange Limited (NGX), Flour Mills of Nigeria Plc is expected to pay a final dividend of N1.65 per share on all the outstanding 4,100,379,605 ordinary shares of the company. This brings the total dividend pay out to qualified shareholders to N6.8 billion.

In addition, the notice also revealed that the dividend will be paid electronically to shareholders on the 9th of September, 2021, subject to appropriate withholding tax and approval at the Company’s Annual General Meeting scheduled to hold on 8th of September, 2021 at Eko Hotels and Suites, Lagos, by 2:00pm prompt.

To qualify for participation, shareholders must meet the following requirements;

  • Shareholders must have completed the e-dividend registration and must have mandated the Registrar (Atlas Registrars Limited) to pay their dividends directly into their bank accounts.
  • Only shareholders whose names appear on the Register of Members as at the close of business on 13th of August, 2021 will be considered
  • In light of the above, the Register of Members will be closed from Monday 16th of August to Friday 20th of August, 2021.

It is pertinent to note that the recent dividend declaration of N1.65 per share is 18% higher than the final dividend declared in corresponding period of last year (FY 2019: N1.40 per share).

What you should know:

  • Flour Mills of Nigeria Plc declared in its audited financial statements for 2020, that it made a profit after tax of N25.72 billion, indicating a surge of about 126% when compared with 2019 figures.
  • Consequently, the company’s earnings per share (EPS) during the period under review advanced by 183.6% YoY to print at N6.38.
  • As at the period of reporting this, Flour Mills of Nigeria Plc currently trades at N29.60 per share on the floor of the Nigerian Exchange Limited (NGX).

 

 

Nestlé S.A invests additional N175.2 million in shares of its Nigerian subsidiary.

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Nestlé S.A, a leading multinational food and beverage company, has invested an additional N175.2 million in shares of its Nigerian Subsidiary (Nestlé Nigeria Plc).

This disclosure was made by Nestlé Nigeria Plc, in a notification issued and signed by the Company’s Secretary, Bode Ayeku.

According to the notice, Nestlé S.A acquired additional 125,513 units of Nestle Nigeria Plc shares at a price of N1, 396 per share. This puts the total consideration for the shares purchased by the parent company at N175, 216,148.

Additionally, it is worthy to note that the recent transaction which took place on the floor of the Nigerian Exchange Limited, were effected in three tranches in the following dates; 4th, 5th and 6th of August, 2021.

Breakdown of the deal

  • In the first tranche which took place on the 4th of August 2021, the parent company purchased additional 43,104 units of its Nigerian subsidiary shares at N1,390.4524 per share, totaling N59,934,060.25
  • Subsequently, the firm purchased an additional 52,704 units of the latter’s share at N1,399.2157 per unit, worth N73,744,264.25
  • In the last tranche which took place on 6th of August 2021, the firm purchased a further 29,705 units of shares at N1, 398.7459, totaling N41, 549,746.96
  • In light of this, a total of 125,513 units of Nestle Nigeria’s share were purchased at an average price of N1,396, totaling N175.2 million.

This recent transaction will further raise the stakes and cement the position of Nestlé S.A as the majority shareholder in its Nigerian subsidiary (Nestlé Nigeria Plc).

What you should know

  • Nestlé S.A is a leading Swiss multinational food and drink processing company and the parent company of Nestlé Nigeria Plc. According to Wikipedia, it is the largest food company in the world, measured by revenue and other metrics, since 2014
  • Nestle Nigeria Plc closed trading for the week ended 6th of August, 2021 with a share price of N1,540 per share.

 

 

Dividend: Northern Nigeria Flour Mills to pay interim dividend of 15 kobo per ordinary share.

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Northern Nigeria Flour Mills Plc has announced to pay an interim dividend of 15 kobo per ordinary share to its shareholders. The payment which is subject to appropriate withholding tax and approval will be paid to shareholders, whose names appear in the Register of Members as at close of business on 24th of August, 2021.

The dividend payment is for the period ended June 30, 2021.

In a statement signed by the company’s secretary, Theophilus Ogwuche, the milling firm disclosed that on 10th of September, 2021, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at 24th of August, 2021, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.

Additionally, the milling firm revealed that the Register of Shareholders will be closed from 25th of August to 27th of August, 2021.

In light of the above, it is imperative to note that the dividend payment is coming on the back of an impressive Q1, 2021 financial results posted by the firm. In its recently released first quarter results for the period ended June 30, 2021, the firm posted a 21% increase in profit after tax to N82.0 million. Earnings per share also printed at 46 kobo during the aforementioned period.

About Northern Nigeria Flour Mills Plc

Northern Nigeria Flour Mills Plc is a Nigerian-based milling company, engaged in the milling of wheat and other associated grains. It also sells products Golden Penny products purchased from Flour Mills of Nigeria Plc (its parent company). Some of the products produced by Northern Nigeria Flour Mills Plc include; wheat flour, semovita, wheat offal, masaflour, germ flour, masavita, corn offal, etc.  The company’s head office is in Kano, Nigeria.

Northern Nigeria Flour Mills Plc closed trading for the week ended 6th of August, 2021 on the floor of the Nigerian Exchange Limited (NGX) at N6.15 per share. Its total shares outstanding for the period stood at 178,200,000.

 

 

Ellah Lakes Plc: Notice of Board Meeting.

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Ellah Lakes Plc has announced that it will be hosting a Board meeting in Lagos on the 17th of August, 2021.

This is according to a notice issued by the company and sent to the Nigerian Exchange Group Limited today.

According to the notice, the meeting will enable the Board Directors to consider the company’s financial statement for the year ended 31 July, 2021. Decisions reached at the meeting will be subsequently communicated.

In addition, the firm also announced a closed period from 2nd of August 2021 until 24 hours after the company’s financial statement and outcome of the board meeting have been made public in line with the Rulebook of the Nigerian Exchange Limited.

Here is a link to the notice.

Northern Nigeria Flour Mills Plc grows profit by 21% to N82.9 million in Q1 2021.

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Northern Nigeria Flour Mills Plc released its unaudited financial results for the first quarter of the year ended June 30, 2021.

  • Revenue for the period was N3.56 billion. (+87% YoY)
  • Cost of sales was N3.25 billion. (+88.3% YoY)
  • Administrative expenses totalled N170.7 million. (+106.4% YoY)
  • An operating profit of N147.9 million was recorded. (+25.05% YoY)
  • Profit after tax for the period was N82.9 million. (+20.96% YoY)
  • Earnings per share of 46 kobo Vs 38 kobo YoY.

See link to results.