Guinness Nigeria grows profit by 110% to N1.26 billion in FY 2020.

Guinness Nigeria Plc released its full-year audited financial statement for the year ended 30th of June, 2021.

  • Revenue for the period was N160.42 billion. (+54% YoY)
  • Cost of sales was N114.71 billion. (+61% YoY)
  • Administrative expenses totalled N10.5 billion. (-27% YoY)
  • Operating profit was N9.87 billion (+177% YoY)
  • Profit for the year was N1.26 billion. (+110% YoY)
  • Earnings per share of 57 kobo. (+110% YoY)
  • The Board recommended dividends totalling N1 billion.

See link to results.

BOC Gases Nigeria Plc announces resignation of two directors.

BOC Gases Nigeria Plc has announced the resignation of two Independent Non-Executive Directors and representatives of BOC Holdings Uk, Messrs. Hendrik Mentz de Waal and Joseph Ramashala, from the company’s Board.

According to a notice signed by the Company Secretary, Mrs. Aderonke Segun-Alabi, and made available on the website of the Nigerian Exchange Limited (NGX), the resignation of the aforementioned individuals became effective from 10th of August, 2021.

It is also important to note that following their resignations, the duo ceased to be members of the Risk and Audit Committees of the Board.

Back story: Recall that TY Holdings Limited had recently acquired a majority stake in BOC Gases Nigeria Plc, following the purchase of an additional 249,746,823 ordinary shares in the latter. This move raised the total equity stake of TY Holdings Limited in the company to 72%.

Following the conclusion of the deal, the firm announced that there will be changes in the ownership structure of BOC Gases Nigeria Plc in a bid to reflect the new reality. In light of this, it is anticipated that some Board members especially those representing the defunct majority shareholder- BOC Holdings, UK, will have to give way for new directors to emerge.

Additionally, the firm thanked both directors for the outstanding efforts and contributions during their tenure as Independent Non-Executive Directors of the company, and wished them the greater success in their future endeavours.

BOC Gases Nigeria Plc closed trading today 23rd of August, 2021 with a share price of N11.10



Dangote Cement launches new N150billion Commercial Paper Programme.

Dangote Cement Plc, Africa’s largest cement producer, has announced the launching of a new N150 billion Commercial Paper (CP) programme.

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

According to the disclosure, the new CP programme combined with an existing N300 billion multi-instrument issuance Bond programme will help broaden the firm’s funding sources and further ease access to capital market funding.

In addition, the cement manufacturing giant stated that the new commercial paper will be used to match working capital requirements and meet up with general corporate obligations.

Commenting on the recent development, the Chief Executive Officer of Dangote Cement Plc, Michel Puchercos said: ‘The establishment of a new ₦150 billion Commercial Paper confirms Dangote Cement Plc’s ambition to maintain its long and successful track record of accessing the Nigerian debt capital market. Dangote Cement has issued an aggregate of ₦450 billion in Commercial Papers since 2018.

‘’I want to thank our stakeholders and investors who contributed to the success of all the previous issuances of the commercial paper programme. We look forward to the same warm reception as we engage with fixed income investors under this new programme. Thank you again for your continued trust in Dangote Cement.”

What you should know:

  • It is pertinent to note that the new CP has been registered on the platform of FMDQ Securities Exchange.
  • As at the period of reporting this, Dangote Cement Plc is currently trading at N245 per share.

Arbico Plc set to hold Annual General Meeting (AGM) on September 9.

Arbico Plc has announced that it will be hosting its Annual General Meeting on the 9th day of September, 2021 at 11:00am prompt.

According to a statement signed by the company’s secretary, Olaniwun Ajayi, and seen by nairametrics, the meeting will hold at Ilupeju, Lagos on the aforementioned date and time.

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.
  • 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.

Furthermore, due to the COVID-19 pandemic, attendance of the AGM will be by proxy. Additionally, the firm also announced that the AGM will be streamed live online for shareholders and other stakeholders who will not be attending physically. The link for the AGM online live streaming will be made available on the company’s website at

For more information about the AGM, click HERE.

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

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.





DEAL: TY Holdings Acquires Majority Stake in BOC Gases Nigeria Plc.

TY Holdings Limited, a firm linked to former minister of defence and retired military general, Mr Theophilus Yakubu Danjuma, has acquired a majority stake in BOC Gases Nigeria Plc.

In a notice made available on the website of the Nigerian Exchange Limited (NGX) today, TY Holdings purchased additional 249,746,823 ordinary shares in BOC Gases Nigeria Plc, translating to 60% of the entire shares in the company. Prior to the recent transaction, the majority stakes were held by BOC Holdings UK (a member of the Linde Group).

This purchase is in addition to the existing 12% shares of the Company owned by TY Holdings Limited prior to this transaction, bringing the ownership of TY Holdings Limited in BOC Gases Nigeria Plc to 72%.

Sequel to the conclusion of the deal, a change in the ownership structure of BOC Gases Nigeria Plc has been approved to reflect the new reality, effective from the 13th day of August, 2021. To this end, BOC Gases Nigeria Plc assured its esteemed shareholders and the public that the company will make sure that it sustains the reputation and standing it has built for over the last 62 years.

Back story:  Recall that in November last year, BOC Holdings UK (a majority shareholder) had announced a proposed divestment of its controlling equity interest in BOC Gases Nigeria Plc. The move would see the major shareholder sell off its interest of about 249,746,823 ordinary shares, translating to 60% of the latter’s total shareholdings.

In light of this, the firm announced that it has entered into a binding share purchase agreement with TY Holdings Limited on November 16, 2020.

What you should know:

  • TY Holdings Ltd is a Private Limited Company established in 1989 and based in Lagos, Nigeria. The organization operates as a holding companies sector with 5 branches, subsidiaries and associated companies.
  • BOC Gases Nigeria is a renowned manufacturer and distributor of industrial, special and medical gases, welding and medical equipment. The firm currently have a total shares outstanding of 416,244,706 units with a market capitalization of about N3.83 billion. It closed trading today 17th of August, 2021 with a share price of N9.20.

Bricklinks Africa Plc reports profit after tax of N0.34m in Q2 2021.

Bricklinks Africa Plc released its unaudited financial statements for the second quarter ended June 30, 2021.

  • Revenue for the period was N27.37m. (+1.5% QoQ)
  • Cost of sales was N18.43 million. (+1.5% QoQ)
  • Operating expenses totalled N8.6 million. (+1.5% QoQ)
  • Profit for the year was N0.34million. (+200.4% QoQ)
  • Earnings per share of 3.44 kobo Vs 3.42 kobo QoQ.
  • Total assets for the period stood at N799.6 million.

See link to results.

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

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).


Ellah Lakes Plc: Notice of Board Meeting.

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.

Meyer Plc approves interim dividend worth N796.9 million for 2021 half year.

The Board of Directors of Meyer Plc has approved the payment of an interim dividend of N1.50 per ordinary share of 50 kobo for the period ended June 30, 2021.

The dividend will be paid on all the outstanding 531,237,723 ordinary shares of the company, thereby raising the total amount to be paid by the firm to N796, 856,584.50

According to a disclosure signed by the company’s secretary, Kalu O. Kalu and filed with the Nigerian Exchange Group Limited (NGX), the dividends will be disbursed electronically on the 25th of August, 2021, to all qualified shareholders whose names appear on the Register of Members as at 13th of August, 2021.

To fast track the process, the company announced that it will close the register of its shareholders from 16th of August to 20th of August, 2021. The qualifying conditions for shareholders to participate are succinctly captured below;

  • Shareholders must have completed e-dividend registration.
  • Shareholders must have authorized the company’s registrar (Greenwich Registrars & Data Solutions Limited) to pay the dividends directly into the respective shareholder’s bank account.

What you should know:

  • Meyer Plc is a renowned manufacturer and marketer of high quality paint products in Nigeria. The firm had earlier reported a half year loss of N9.33 million for the period ended June 30, 2021
  • As at the period of reporting this, Meyer Plc share price currently trades at 59 kobo.