Category: Services

C & I Leasing Plc appoints new COO, and 2 others.

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The Board of Directors of C & I Leasing Plc has announced the appointment of three individuals into its senior management. They are; Mr Ugoji Lenin Ugoji (Chief Operating Officer), Mrs Adetutu Sanni (Chief Commercial and Strategy Officer) and Mr Olumuyiwa Oshomoji (Chief Marketing Officer-Marine).

This was disclosed by the firm via a statement signed by its secretary, Mbanugo Udenze & Co and made available on the website of the Nigerian Exchange Limited (NGX).

About the new appointees

Mr Ugoji Lenin Ugoji: Ugoji joins C & I Leasing with over 20 years’ experience in Commercial/Investment Banking, Leasing and Asset Management. Prior to his recent appointment, he gained valuable work experience from the Mellanby Trust Company, a Commodity focused Asset Management Company, where he was a founding Director and the Chief Investment Officer responsible for directing the company’s Investment Portfolio structure for purposes of its corporate and individual clients. He also gained relevant working experience from the Aquila Capital Group, where he served as the pioneer Group Head Treasury & Wealth Management.

Mr. Ugoji also worked for leading banks in Nigeria, such as Continental Trust Bank (now UBA) and NAL Bank Plc (now Sterling Bank).He holds a Bachelors’ Degree in Estate Management from the University of Lagos, and an MBA in Banking & Finance from the ESUT Business School, Enugu. He is also a Chartered Pension professional, and an associate of the Certified Pension Institute of Nigeria

Mrs Adetutu Sanni: Adetutu boasts of over 20 years of relevant career experience spanning Sales & Marketing, Product Development, Strategy Formulation & Implementation, Corporate Communications and Development and Human Capital Management at executive management level. She started her career in 1996 with Vigeo Holdings, managing various business development positions and left the company in 2005 as Head of Marketing and Business Development at CitiServe Limited, a subsidiary of Vigeo Holdings.

Prior to joining C & I Leasing, Adetutu served as Chief Operating Officer for Courierplus Services Limited where she supported the CEO in the management of the sales and operations of the company. She served various capacities in five of Superflux Group companies during her fifteen-year stint with the company including her role as pioneer Chief Operating Officer of Superflux International (Ghana) Limited between 2009 and 2010. Adetutu is an alumna of Obafemi Awolowo University where she studied Economics and she is currently wrapping up an Executive MBA program with Business School, Netherlands.

Mr. Olumuyiwa Oshomoji: Muyiwa is an alumnus of the University of Lagos where he studied Civil, Structural & Environmental Engineering and holds a Diploma in ‘Shipping Education for emerging Managers’ from the Moller Maersk International Shipping Education, in South Africa. He also holds an Executive MBA from EM Lyon Business School, Lyon, France. Muyiwa joins C & I after 12 years of experience with the Bourbon group where he exited as the Director Business Management in 2020. During his time in Bourbon he served in diverse leadership, strategy, commercial and operational roles, both locally and internationally.

About C & I Leasing Plc

C&I Leasing Plc is a Nigerian public limited maritime company formed in 1990, with an objective of providing both operating and finance leases and other services. The Company’s principal activities include extension of structured operating and finance leases to the productive and other sectors of the economy.

 

Royal Exchange Plc: Notice of Board Meeting

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Royal Exchange Plc has announced that it will be a virtual hosting a Board of Directors meeting on Wednesday, 13th of October, 2021 by 10:00 am prompt. The meeting will be held via zoom

According to a notice issued by the company and filed with the Nigerian Exchange Limited (NGX), the meeting will enable the board members to receive and consider the unaudited financial statements of the company for the period ended September 30, 2021 and discuss other relevant issues affecting its operations.

Consequently, in line with the Rule 17&18(b) of the Nigerian Exchange Limited Rule Book, the firm have commenced a closed period from 30th of June, 2021 until twenty-four (24) hours after the outcome of the meeting and the Bank’s unaudited financial statements for the aforementioned period have been filed with the NGX and made public.

During the closed period, all insiders of the company such as; directors, employees, advisers, consultants and any other person (s) with insider’s information and their connected persons are prohibited from transacting in the shares of the company.

To access the disclosure, click HERE.

 

Chams Plc announces board meeting, closed period ahead of 9M 2021 results.

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Chams Plc has notified its shareholders and the investing public of its imminent Board of Directors Meeting scheduled to hold on Tuesday, October 26, 2021.

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

According to the notice, the meeting was scheduled to consider among other things the unaudited financial statements of the company for the nine months period ending 30th of September, 2021. To facilitate this, the company declared that it will be observing a closed period from Friday, October 1, 2021 until 24 hours after the announcement of the outcome of the meeting and the unaudited financial statement for the period ended September 30, 2021 has been published to the Market.

During the closed period, all insiders of the company such as; directors, employees, advisers, consultants and any other person (s) with insider’s information and their connected persons are prohibited from transacting in the shares of the company.

To access the disclosure, click HERE.

Veritas Kapital Assurance Plc appoints Oyindamola Unuigbe as an Executive Director.

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Veritas Kapital Assurance Plc has announced the appointment of Mrs. Oyindamola Unuigbe into its Board as an Executive Director of the Company.

The appointment was disclosed by the firm in a notice dated 27th of September 2021, signed by its secretary, Saratu Umar Garba, and sent to the Nigerian Exchange Limited (NGX).

According to the disclosure, the appointment is subject to the final approval from the National Insurance Commision (NAICOM).

Oyindamola brings to bear over two decades of hands-on expertise in the insurance and financial services sectors. She combines experience in entrepreneurship, underwriting; reinsurance; portfolio management; product and business development; enterprise risk management and sales and marketing; acquired across leading international and local organizations.

She is responsible and oversees all operational aspects of the company necessary for business success and growth. In addition, she helps set strategic goals and is responsible for the flow of operations information to the chief executive and the board, while developing and executing new growth initiatives.

Prior to her appointment as an Executive Director at Veritas Kapital Assurance Plc, Oyindamola served as Head, Business Development, South wherein she was responsible for overseeing business procurement and total service delivery activities of branches in the Southern region of Nigeria.

She has over 27-years of relevant experience and have worked in key positions in reputable brands, including but not limited to; Accounts Manager with Brokerlink Inc.; one of Canada’s largest brokerage firms; Primerica Life Insurance Company, Alberta Canada; where she developed key competencies in the areas of processes and procedures that conform to the international practice of General and Life Insurance, Standards and Regulatory Compliance requirements.

She started her career at the Lagos office of SCIB insurance brokers and subsequently worked at Citi Trust insurance brokers and the Nigeria Reinsurance Corporation where she served as a senior manager.

Oyindamola holds a Bachelor’s degree from the University of Ife, Nigeria. She is an Associate of both the Chartered Insurance Institute of London (ACII) and Nigeria (ACIIN) and is a recipient of various prestigious international certifications encompassing general insurance, life insurance and professional risk management.

Meyer Plc: Notice of Board Meeting

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Meyer Plc has notified its shareholders, the investing public and other relevant stakeholders that it will be hosting a Board of Directors Meeting on Friday, October 8, 2021, by 10 am prompt.

This is according to a press statement signed by the company’s secretary, Kalu O. Kalu, 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 October 1, 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.

 

ABC Transport projects profit after tax of N30.08 million in Q4 2021.

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ABC Transport Plc released its earnings forecasts for the fourth quarter ending 31st of December, 2021.

  • Revenue is expected to hit N1.17 billon.
  • Cost of sales is projected at N839.4 million.
  • Marketing, distribution and administrative expenses projections of N288 million.
  • Tax is projected at N20.05 million.
  • Profit after tax is projected at N30.08 million.

See link to forecasts.

NAHCO Aviance Director Purchases additional 2.93m shares worth N7.94 million.

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Nigerian Aviation Handling Company Plc (NAHCO Aviance)has notified the Nigerian Exchange Group Limited that Mr. Akinwumi Godson Fanimokun, a Non-Executive Director in the firm, has acquired 2,926,410 additional units of its shares, worth ₦7.94 million.

This was revealed by the company’s secretary, Bello Abdullahi, in two separate disclosures made available on the website of the Nigerian Exchange Limited (NGX).

Details: In the first notice, Mr. Fanimokun spent a total of N3, 539,096.80 to acquire additional 1,416,410 units of the firm’s shares. The deal took place on the floor of the NGX in Lagos, between 9th and 10th of August, 2021.

Similarly, the details contained in the second notice uploaded on the website of the NGX revealed that the aforementioned director purchased additional 1,510,000 units of the firm’s shares for a sum of N4, 402,500.91. The deal was executed on the 13th, 14th and 16th of September, 2021.

Cumulatively, a total sum of N7, 941,597.71 was spent by the director to purchase an additional 2,926,410 units of the firm’s shares.

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. Akinwumi Godson Fanimokun holds about 2,000,000 units of NAHCO Aviance Plc shares, translating to about 0.123% of the total shareholding in the company. The recent addition thereby raises his total shareholdings to 4,926,410 units.
  • NAHCO Aviance Plc’s share is currently trading at N3.12 on the floor of the Nigerian Exchange Limited (NGX).

 

Arbico Plc projects profit after tax of N44.56 million in Q4 2021.

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Arbico Plc released its earnings forecasts for the fourth quarter ending 31st of December, 2021.

  • Revenue was projected at N1.1 billion.
  • Cost of sales projection of N658.5 million
  • Finance income was projected at N1.67 million
  • Total expenses projection of N401.85 million.
  • Tax was projected at N20.97 million
  • Profit for the period was projected N44.56 million.

See link to results.

Royal Exchange Plc: Notice of Emergency Board Meeting.

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Royal Exchange Plc has announced that it will be hosting an emergency board of Directors meeting on the 21st and 23rd of September, 2021.

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

According to the notice, the meeting will enable the Board Directors to consider and approve the company’s financial statement for the year ended 31st of December, 2020. Decisions reached at the meeting will be subsequently communicated.

In addition, the firm also announced a closed period from 30th 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.

In the closed period, insiders of the firm such as its directors, managers, employees, advisers, etc., and people related to them are strictly prohibited from directly or indirectly dealing in the shares of the company

Here is a link to the notice.