Shareholders of Rak Unity Petroleum given October 31st deadline to claim dividends.

In a bid to expedite its winding up process, the Liquidator of Rak Unity Petroleum Company Plc, have given shareholders of the company with unclaimed dividends until 31st of October, 2021 to claim their dividends or risk forfeiting it to the Companies Liquidation Account.

This is according to a notice signed by the Liquidator, Mrs Chinwe Chiwete and filed with the Nigerian Exchange Limited (NGX).

Corroborating this, the recent notice filed with the NGX reads: ‘’Notice is hereby given that pursuant to the Companies and Allied Matters Act 2020 and the Companies Winding-Up Rules (‘’Applicable Laws’’), the Liquidator is required before dissolution of the Company to pay all unclaimed dividends or undistributed assets of the Company in the hands or under the control of the Liquidator into public fund of the Federation kept by the Corporate Affairs Commission (‘the Commission’’) and known as Companies Liquidation Account.

‘’Accordingly, the details of concerned shareholders and investors have been uploaded in the company’s website http://www.rakunity.com The concerned shareholders and Investors are requested to follow the steps stated in the website and claim dividend on or before 31st of October, 2021 otherwise the Liquidator shall, with a view to complying with the Applicable Laws, take the necessary actions to transfer the unpaid/unclaimed dividend into the Companies Liquidation Account.’’

Individuals with further questions concerning the announcement or developments related to the information are urged to contact the Liquidator via email at: [email protected]

What you should know:

  • Recall that the shareholders of Rak Unity Petroleum Plc., during its Annual General Meeting held on 4th of June 2021 had authorized the company to commence the process of voluntarily winding up the Company. The authorization which is in line with Section 622 of the Companies and Allied Matters Act (CAMA) 2020 provided a legal basis for further action.
  • Consequently, in line with Section 624 of CAMA 2020, the Nigerian Exchange Limited (NGX) in August 2021 suspended trading in the shares of the company. This was necessary in order to enable the parties involved finalize the winding up process.

 

 

Conoil Plc declares N960 million as final dividend for 2020.

The Board of Conoil Plc has revealed that it will pay a total sum of about N960 million to its shareholders as the final dividend for the period ended 31st of December, 2020.

According to a recent notice issued by the company and filed with the Nigerian Exchange Limited (NGX), Conoil Plc is expected to pay a final dividend of N1.50 per share on all the outstanding 693,952,117 ordinary shares of the company. This brings the total dividend payout to qualified shareholders to approximately N960 million.

The final dividend will be paid electronically to shareholders on the 19th of November, 2021, subject to appropriate withholding tax and approval at the Compan y’s forthcoming Annual General Meeting.

The conditions for qualification demands that only shareholders whose names appear on the Register of Members as at Friday, 2nd July, 2021 and who have completed their e-dividend registration and mandated the Registrar (Meristem Registrars and Probate Services Limited) to pay their dividends directly into their Bank accounts, are qualified to participate.

It is pertinent to note that the recent dividend declaration of N1.50 is 25% lower than the amount declared in corresponding period of last year (FY 2019: N2 per share). This decrease might be attributed to a dip in key financial metrics of the company for the current period under review. For example, in its FY 2020 report, the company’s revenue and profit for the year declined by 16% and 27% to N117.5 billion and N1.44 billion respectively. Its earnings per share also printed N2.08 as against N2.84 printed in corresponding period of 2019.

Conoil plc opened trading today 12th of October, 2021 with a share price of N25.50 per share.

Seplat Energy announces board meeting, closed period ahead of Q3 2021 results.

Seplat Energy has notified its shareholders, the Nigerian Exchange Limited (NGX) and the investing public of its imminent Board of Directors Meeting scheduled to hold on Wednesday, 27th of October, 2021.

According to a statement signed by the company’s secretary, Mrs Edith Onwuchekwa, the meeting will avail the Board members the opportunity to discuss the company’s Q3 2021 financial results.

The details of the meeting are as follows;

  • Date: Wednesday, 27th October 2021
  • Venue: Via Teleconference, Lagos Office
  • Time: 9:00am – 3:00pm

Additional, in line with the provisions of Clause 17:18 of the Nigerian Exchange Limited Listing Rules (as amended), the firm announced that it will be observing its closed period from Thursday 30th of September, 2021 to Friday, 29th of October, 2021 or 24 hours after the release of its financial results.

Accordingly, no Director, Employee, Person Discharging Managerial Responsibility, Adviser(s) of the Company and their connected persons may directly or indirectly deal in the shares of the Company in any manner during the closed period.

About SEPLAT

Seplat ENERGY Plc is a leading indigenous Nigerian energy company with a strategic focus on Nigeria, listed on the Premium Board of the Nigerian Exchange Limited (“NGX “) (NGX:SEPLAT) and the Main Market of the London Stock Exchange (“LSE”) (LSE:SEPL)

NAICOM confirms appointment of Ebunolu Ayeni as M.D/CEO of International Energy Insurance Plc.

The National Insurance Commission (NAICOM), has approved the appointment of Mr Ebunolu Oludele Ayeni as the Managing Director/Chief Executive Officer of International Energy Insurance Plc, with effect from July 23, 2021.

This is according to a statement signed by the Head of Legal and Compliance Services in the Company, Reginald Reuben, made available on the website of the Nigerian Exchange Limited (NGX).

Excerpts from the recent notice read thus: ‘’International Energy Insurance Plc (Company) wishes to notify Nigerian Exchange Limited, the Company’s shareholders and the investing public that the National Insurance Commission (NAICOM) has approved the appointment of Mr Ebunolu Oludele Ayeni as the Managing Director/Chief Executive Officer (MD/CEO) of International Energy Insurance Plc with effect from July 23, 2021.’’

About Mr Ebunolu Ayeni

Ebunolu Oludele Ayeni is an accomplished chartered insurer, risk analyst, administrator and management consultant with over three decades of experience. Prior to joining International Energy Insurance Plc, Ayeni gained valuable experiences from a host of insurance companies, including but not limited to; NEM Insurance Plc, Lion of Africa Insurance Plc and Oasis Insurance Plc, among others. He also worked in the academia, serving as the Director of Examinations & Records at the Chartered Insurance Institute of Nigeria (CIIN) between 2013 to 2018, and the University of Nigeria (UNN), Lagos outreach where he lectured on a part-time basis, among others.

Ayeni holds a B.sc in Insurance from the University of Lagos, MBA in Marketing from Ladoke Akintola University and an M.sc in Strategic Management from Enugu State University. He is also a fellow of the Chartered Insurance Institute of Nigeria (CIIN), Institute of Loan and Risk Management Nigeria and an Associate member of the Nigerian Council of Registered Brokers.

What you should know:

  • On the 26th of January, 2021, Nairametrics had earlier reported the appointment of Ebunolu Oludele Ayeni as the Acting Managing Director/Chief Executive Officer of International Energy Insurance Plc.
  • As at the period of filing this report, International Energy Insurance is currently trading at 38 kobo per share on the floor of the Nigerian Exchange Limited (NGX).

 

 

 

 

TotalEnergies Marketing Nigeria Plc forecasts N3.85 billion PAT in Q4 2021.

TotalEnergies Marketing Nigeria Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).

  • Gross revenue is expected to hit N145.3 billion during the period under review.
  • Cost of sales projection of N125.83 billion.
  • Administrative expenses projection of N13.8 billion.
  • Operating profit is projected at N6.3 billion.
  • Net finance costs projection of N590 million.
  • Income tax is projected at N1.85 billion.
  • Profit after tax is projected at N3.85 billion.

See link to forecasts.

Total Nigeria successfully completes change of name to TotalEnergies Marketing Nigeria Plc.

French energy giant, Total SE, has successfully completed various regulatory processes required to effect the change of its name to TotalEnergies Marketing Nigeria Plc.

According to a statement signed by the company’s secretary, Bunmi Popoola-Mordi, the firm noted that it should be henceforth addressed as TotalEnergies Marketing Nigeria Plc.

Recall that on the 19th of August, 2021, shareholders of the company (then known as Total Nigeria Plc) voted to change its name to TotalEnergies Marketing Nigeria Plc. The change was driven by the firm’s desire to transition into a multi-energy group, providing affordable, more reliable and cleaner energy in the best way. In addition, the transition is in a bid to support the Paris Agreement and vomiting to carbon neutrality by 2050.

Commenting on the rationale behind the change, the firm said: ‘’ The name change is accompanied by a new visual identity for all of our activities, aimed at anchoring our transformation to a multi-energy group, such transformation being based on a development strategy of two pillars, gas and renewable electricity, as well as the underlying ambition of a transition to carbon neutrality by 2050.’’

As at the period of reporting this, TotalEnergies Marketing Nigeria Plc is currently trading at N199.20 per share on the floor of the Nigerian Exchange Limited (NGX).

International Energy Insurance Plc forecasts loss after tax of N155.3 million in Q4, 2021.

International Energy Insurance Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).

  • Gross premium income is projected to hit N810 million
  • Claims Incurred projection of N119 million.
  • Underwriting profit is projected at N199.4 million
  • Management expenses projection of N596.8 million
  • Tax projection of N1.54 million
  • Loss after tax projection of N155.3 million.

See link to forecasts.

Eterna Plc projects profit after tax of N582.9 million in Q4 2021.

Eterna Plc has released its earnings forecasts for the fourth quarter of 2021 (Q4 2021).

  • Revenue is projected to hit N70.43 million during the period.
  • Cost of sales projection of N64.53 million.
  • Marketing, distribution and administrative expenses are projected to hit N3.91 million.
  • Tax is projected at N274.3 million.
  • Profit after tax is projected at N582.9 million.

See link to forecasts.

Dr. Samba Seye appointed Managing Director of Total Nigeria Plc.

Total Nigeria Plc has announced the appointment of Dr Samba Seye as its new Managing Director, with effect from September 1, 2021.

The announcement is contained in a recent press release signed by the company’s secretary, Bunmi Popoola-Mordi and filed with the Nigerian Exchange Limited (NGX).

Dr Seye was appointed to replace the outgoing Managing Director- Mr Imrane Barry, who has been reassigned to TotalEnergies SE headquarters in Paris, France.

About Dr. Samba Seye

Dr. Seye is a thorough-bred professional with experience across several countries. Until his recent appointment, he has been a member of TotalEnergies SE Ethics Committee since 2019. He joined the Total Marketing and Services in 2014 as a Project Manager in the Strategy Department, and has since rose through the ranks to occupy various leadership positions in the company, including; The Deputy Executive Vice President, West Africa(2015), Vice President Specialties/General Trade Total MS /Africa (2016) and Executive Vice President West Africa, Total MS /Africa (2017).

Dr. Seye holds a Doctorate Degree in Engineering from the University of Sciences and Techniques of Lille, France, where he worked as an assistant lecturer from 1990 until 1993.

Total Nigeria Plc closed trading today 31st of August, 2021 with a share price of N199.20