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Conoil Plc released its unaudited half year results for the period ended June 30, 2021.
See link to results.
MRS Oil Nigeria Plc released its unaudited financial results for the period ended June 30, 2021.
See link to results.
Seplat Energy Plc released its unaudited financial results for the six months period ended 30th of June, 2021.
See link to results
BOC Gases Nigeria Plc released its unaudited half-year results for the period ended 30th of June, 2021.
See link to results.
The Board of Directors of Total Nigeria Plc in a recent meeting held on the 19th of July 2021, has declared an interim dividend of N4.00 per ordinary share of 50 kobo for the period ended June 30, 2021.
According to a notice signed by the company’s secretary, Bunmi Popoola-Mordi and filed with the Nigerian Exchange Group Limited (NGX), the dividend will be paid on the 13th of September, 2021, to all qualified shareholders whose names appear on the Register of Members as at 13th of August, 2021. Other qualifying conditions include;
In light of the above, the Register of Shareholders will be closed from Monday, August 16, 2021 to Friday, August 20, 2021. Similarly, the energy giants scheduled its qualification date for August 13, 2021.
Compared to last year, the recent dividend declaration is a major boost to shareholders and an indication that the firm has returned back to the profit path. Recall that in comparable period of last year, the firm did not declare any interim dividend due to its unfavourable financial standing as at that time.
Drivers:
Total Nigeria Plc reported an impressive result in the 2021 half-year period. The firm’s revenue in the aforementioned period stood at N151.3 billion as against N106.7 billion recorded in corresponding period of 2020, indicating an increase of about 42% Year-on-Year.
Similarly, the firm reported a profit after tax of N8.07 billion in June 2021 as against a loss of N537.19 million incurred in June 2020, indicating a surge of about 1,601% Year-on-Year. Other key financial metrics such as Earnings per Share, Dividend per Share, etc., all recorded a massive boost.
What you should know:
As at the time of reporting this, Total Nigeria Plc shares trade N184.8/unit on the floor of The Exchange, up by 10%.
Total Nigeria Plc released its unaudited half-year results for the period ended 30th of June, 2021.
See link to results.
Westport Oil Limited, a subsidiary of Seplat Energy Limited, has secured a $50 million offtake linked reserved based lending facility due April 2027.
The Offtake Facility is subordinated to the $110 million senior reserve based lending facility (the ‘’RBL’’). It attracts an initial interest of Libor +10.5% payable semi-annually and is scheduled to commence repayment from March 2023.
Affirming this, a notice signed by the Chief Financial Officer of Seplat, Mr Emeka Onwuka read: ‘’ Seplat Energy Plc (“Seplat” or the “Company”), a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, announces that its wholly owned subsidiary, Westport Oil Limited, has successfully raised a US$50 million offtake linked reserved based lending facility due April 2027 (the “Offtake Facility”). The Offtake Facility is subordinated to the US$110 million senior reserve based lending facility (the “RBL”). The Offtake Facility carries initial interest of Libor + 10.5% payable semi-annually and is scheduled to commence repayment from March 2023.’’
What you should know:
The Management of Japaul Gold and Ventures Plc (formerly known as Japaul Oil and Maritime Services Plc), has notified stakeholders of its inability to meet up with the regulatory time frame earmarked for the submission of its Unaudited Financial Statements for the second quarter of the year ended 30th of June, 2021.
This is according to a notice signed by the legal officer of the company, Babatunde Adewale, and sent to the Nigerian Exchange Group Limited (NGX).
According to the disclosure, the company was unable to meet up with the regulatory due date of 30th of July, 2021 due to an ongoing business diversification process which has not been finalized. In line with this reality, the firm sought and obtained the approval of NGX Regulation Limited (NGX RegCo) for an extension of time to file the accounts on or before 29th of September, 2021.
In addition, the company seized the opportunity to apologize for any inconveniences the delay might cause. It also reiterated commitments to ensuring that the accounts are filed within the extended timeframe granted by NGX RegCo.
Rationalizing the on-going diversification move, the firm noted that it is part of a strategic engagement aimed at repositioning the firm, from a loss position to a consistent and sustainable profit inclined position.
What you should know:
The Board of Seplat Energy Plc. has announced the resignation of Mr. Damian Dodo, SAN and Lord Mark Malloch-Brown from its Company as Independent Non-Executive Directors, after seven years of meritorious services.
In addition, the Board also disclosed that Prof. Fabian Ajogwu and Mr. Bello Rabiu have been appointed as Independent Non-Executive Directors of the Company, with effect from today.
These announcements were made in a notification issued by the Company Secretary, Mrs. Edith Onwuchekwa.
According to the notice, the changes are in line with the corporate governance principle of refreshing the Board intermittently through an appropriate balance of skills and diversity. Additionally, the firm noted that the replacement for Lord Mark Malloch-Brown is still ongoing and would be announced in due course.
Commenting on the retirement of the Directors, the Chairman of the Board, Dr. A.B.C Orjiako said: “Seplat Energy was very privileged to have had such seasoned intellectuals who made significant contributions to the growth of the Company. We remain grateful to Mr. Dodo, SAN and Lord Malloch-Brown for sharing their wealth of knowledge and vast experiences with the Board and the Company and we wish them the best in their future endeavors.”
On the other hand, commenting on the recent appointments, Dr. Orjiako said: “The Board of SEPLAT Energy is pleased to welcome, Prof. Ajogwu and Mr. Rabiu. These two prominent intellectuals bring vast knowledge in important areas such as the energy sector, corporate and business governance, industry regulation, and capital markets. SEPLAT Energy looks forward to the immense contribution they will make towards its continuing global success.”
Profile of the recently appointed Directors
Prof. Fabian Ajogwu is a Senior Advocate of Nigeria and Lagos Business School Professor of Corporate Governance. He is an Alumnus of the Said Business School of Oxford University, and an Alumnus of the Lagos Business School. Professor Ajogwu holds a doctorate in Law from University of Aberdeen, Scotland; an MBA from the IESE Business School, University of Navarra, Barcelona; and Law degrees from the University of Nigeria, and the University of Lagos.
Mr. Bello Rabiu holds a Bachelor’s and Master’s Degrees in Mathematical Statistics from Ahmadu Bello University Zaria, Nigeria and another Master’s Degree in Petroleum Engineering from The Imperial College, London, United Kingdom.
Mr. Rabiu recently retired from the services of Nigerian National Petroleum Corporation (NNPC) in July 2019 after 28 years of service. He retired from NNPC as the Chief Operating Officer/Group Executive Director, Upstream Business Unit and served in various capacities in his over two decades of experience at the firm.
The board and management of BOC Gases Nigeria Plc, a leading industrial gases and engineering company, have notified the Nigerian Exchange Group Limited (NGX) of the appointment of Mrs. Aderonke Omowunmi Segun-Alabi as the new company secretary.
In a notice dated 8th July, 2021 and signed by the Finance Director, Adeshinai Alayaki, the company announced that the appointment of Mrs. Aderonke became effective from 28th of June, 2021 following the resignation of the erstwhile secretary, Mr. G.A Oriseh.
Assessing her qualities and commenting on the recent appointment, the firm noted that: ‘’ Aderonke is a consummate professional with strong work ethics and committed to continuous improvement. Endued with a rare mix of subtle but intensely focused ability, she is driven with an overall goal of aligning her intuition with organizational leadership, for the goal of achieving success.’’
Profile
Aderonke is a corporate legal practitioner with over two decades of experience that cuts across several areas. She is adept in Tactical Legal Advisory on Commercial Law, Corporate Law, Regulatory & Statutory Compliance, Client and Investors Advisory, Company Secretarial Services and Corporate Governance, Contract Management, among others.
In terms of education, Aderonke is an alumna of the Olabisi Onabanjo University where she obtained her LLB degree. She is currently pursuing her Master’s in Business Administration from University of Suffolk and her LLM from the University of East London; both in the United Kingdom. She is a member of the Nigerian Bar Association and an Associate Member of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN).