Juli Plc released its audited full year results for the year ended December 31, 2020.
See link to results.
Nigerian Aviation Handling Company Plc (NAHCO Aviance) has confirmed the appointment of Professor Enyinna Ugwuchi Okpara into its Board as a Non-Executive Director.
According to a press statement sent to the Nigerian Exchange Limited (NGX), Professor Okpara’s appointment was ratified by the members and shareholders of the company during its recently concluded 40th Annual General Meeting, held on 30th of July, 2021.
Corroborating this, an excerpts of the press release issued by the firm read thus: ‘’This is to inform our esteem shareholders, the general public and Nigerian Exchange Limited (the Exchange) that at the 40th Annual General Meeting of Nigerian Aviation Handling Company Plc (the Company) held on 30th July, 2021, the Company (Members/SharehoIders) ratified the appointment of Professor Enyinna Ugwuchi Okpara as a Non-Executive Director of the Company with effect from that date.’’
About Prof. Enyinna Okpara
Enyinna Okpara is a Professor of Accounting and Finance and an Associate of the Institute of Chartered Accountants of Nigeria (ICAN). He was born on 27th March 1960. He has the following academic qualifications: PhD (Accounting), M.Sc. (Accounting), MBA (Finance), B.Sc. (Accounting), PGD (Financial Management), HND (Accounting) and NCE (Business Education).
Professor Okpara is currently the Dean of College of Social and Management Sciences, Wellspring University, Benin City. He had previously worked as Accounts/Logistics Manager in Dangote Group. He is an experienced auditor and tax consultant having worked with Akintola Williams Deloitte. Professor Okpara served in the Nigerian Army as a commissioned officer rising to the rank of Captain before he voluntarily disengaged from active military service in 1999.
NAHCO Aviance is a diversified company with interests in aviation cargo, aircraft handling, passenger facilitation, crew transportation and aviation training. The firm recorded an impressive bottom line in the recently concluded half year period (HY, 2021), as its profit after tax surge by 453% to N504.9 million. Revenue grew by 32% to N4.71 billion and earnings per share (EPS) printed 30 kobo during the period under review.
As at the period of filing this report, NAHCO Aviance Plc is currently trading N3.04 per share on the floor of the Nigerian Exchange Limited (NGX).
Japaul Gold and Ventures Plc released its unaudited financial results for the period ended June 30, 2021.
See link to results.
UPDC Real Estate Investment Trust released its unaudited results for the half year period ended 30th of June, 2021.
See link to results.
C & I Leasing Plc released its unaudited financial results for the half year period ended 30th of June, 2021.
See link to results.
The Board of United Capital Plc (UCAP) has today announced the appointment of Ms Tokunbo Ajayi to the Board, as a Non-Executive Director, effective immediately.
This is according to a notice signed by the company’s secretary, Leo Okafor, and made available on the website of the Nigerian Exchange Limited (NGX).
Until her recent appointment, Ms Ajayi was the MD/CEO of United Capital Trustees Limited.
About Ms Tokunbo Ajayi
Tokunbo Ajayi is a financial industry expert with over three decades of experience specifically in the trusteeship space. She qualified as a Barrister and Solicitor of the Supreme Court of Nigeria in 1986 and obtained a Bachelor of Law degree from the University of Ife (now Obafemi Awolowo University), Ile Ife in 1985. She is also an Alumna of Philips Consulting, South Africa Senior Management Programme, and the Columbia Business High School High Impact Leadership Programme.
Ms. Ajayi is a member of various prestigious bodies, including; The Nigerian Bar Association, International Federation of Women Lawyers (FIDA) Nigeria, the Business Recovery & Insolvency Practitioners Association of Nigeria (BRIPAN), Institute of Directors (IoD) Nigeria, and the Nigerian Institute of Management and British Council.
In 2014, she was awarded the Business Excellence Award by the African Business Forum in the United Kingdom as well as the African Entrepreneurship Award in 2018 by the Voice Achievers Awards in the Netherlands.
United Capital Plc is a leading financial services group in Africa focused on leveraging technology to empower businesses, individuals, and governments. It offers wide range of financial services like Investment Banking, Asset Management, Trusteeship, Securities Trading, Wealth Management, and Consumer Finance.
Custodian Investment Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).
See link to forecasts.
The Nigerian Communications Commission (NCC) has finally renewed MTN’s operating spectrum and licence in Nigeria for another 10 years from September.
In a statement signed by the company’s secretary, Uto Ukpanah, the telecommunications giant revealed that the NCC approved the renewal of its Unified Access Service (UAS) Licence and Spectrum licence for wireless local loop in the 900MHz and 1800MHz band.
According to the notice, these licences which expired on 31st of August, 2021, have now been renewed for a further ten-year period, starting from 1st of September, 2021. In addition, the regulator (NCC) acknowledged the receipt of the sum of N7.16 billion for the spectrum licence, and N374.6 million for the UAS licence in settlement of their invoices for the period 1st of September 2021 to 31 August, 2031.
The spectrum underpins MTN’s data network and telecom coverage in Africa’s biggest economy.
What they are saying:
Commenting on the renewals, the CEO of MTN Nigeria, Karl Toriola said: ‘’Renewing our licences for another ten years is very important to our business and enables us to continue to provide services to ensure the benefits of a modern connected life for our prople. MTN Nigeria is delighted with its strong partnership with the NCC and looks forward to working closely with the Commission, and the Ministry of Communications and Digital Economy, to accelerate the growth of Nigeria’s digital economy.’’
Back story: Recall that the NCC had earlier in August denied renewing the operating licence of MTN Nigeria. While it admitted that the telecommunications giant had applied for a renewal of its licence, it stated that the application is still undergoing required regulatory processes as at then.
Courteville Business Solutions Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).
See link to results.
Union Diagnostics and Clinical Services Plc, an indigenous medical diagnostic firm, has concluded various statutory processes required to delist its shares from the Nigerian Exchange Limited (NGX).
This is according to a disclosure signed by the company’s secretary, Samuel Iroye, which partly reads: ‘’We write to inform you of the conclusion of the Scheme of Arrangement and the intent of the company to be delisted from the Nigerian Exchange Limited (the Exchange or NGX) effective from the date as approved by the Exchange.’’
As part of the statutory process, the firm revealed that it had earlier obtained its shareholders’ approval to delist the company’s shares during the last Annual General Meeting and Court Ordered Meeting held on the 25th of January, 2021.
Furthermore, the firm revealed that it had obtained all relevant regulatory approvals from the Securities Exchange Commission (SEC), the Nigerian Exchange Limited, Federal High Court, Federal Competition and Consumer Protection Commission (FCCCP) to embark on the delisting exercise.
Consequently, all shareholders (other than Lifecare Partners Limited, Akinniyi Ambrose Olusola and Akinniyi Elizabeth Abimbola) are enjoined to contact the Registrars for their payoff warrants.
Recall that in a bid to make the exit from the NGX seamless, Cedar Advisory Partners Limited, an investment firm with a niche in the healthcare business waded in to buy out 39.62% minority stakes in Union Diagnostic, conferring the firm the status of a majority shareholder in the latter. Cedar Advisory paid 35 kobo each for about 1,407,855,051 ordinary shares (39.62% stake), translating to about N492.75 million.
Subsequently, the minority shareholders of Union Diagnostics accepted the N492.75 million offered by Cedar for their shares, thus making the exit of the organization easier. In addition, trading in the shares of the company was placed on full suspension earlier in March this year, to enable the parties involved determine shareholders whose names are in the register of members on the effective date and finalize the delisting process.
What you should know: