Fidson Healthcare Plc announces 98th Board Meeting.

 Fidson Healthcare Plc has announced that it will be hosting its 98th Board of Directors meeting on the 28th of July, 2021.

This is according to a disclosure signed by the Company’s secretary, J.A Adebanjo and sent to the Nigerian Exchange Group Limited (NGX).

The meeting is scheduled to consider among other things, the unaudited financial statements of the company for the half year ended 30th of June 2021 (H1, 2021). Sequel to this, the bank will be observing a closed period from 1st of July, 2021 until 24 hours after the unaudited financial statements have been filled with The Exchange.

The closed period will prevent insiders who can influence the share price of the company, e.g. directors, managers, employees etc., from trading in the shares of the company.

In case you missed it: Fidson Healthcare had earlier reported a profit after tax of N579.6 million in the first quarter of the year, indicating a surge of about 281% when compared with the figure posted in corresponding period of last year.

 

For other details of the meeting, click HERE.

United Capital Plc grows profit by 64% to N3.14 billion in H1 2021.

United Capital Plc released its unaudited financial statements for the half-year ended 30th of June, 2021.

  • Gross Earnings for the period was N6.85 billion. (+54.1% YoY)
  • Fee and commission income of N3.12 billion. (+127.9% YoY)
  • Net operating income was N6.81 billion. (+56.5% YoY)
  • Total expenses of N3.11 billion. (+42.9% YoY)
  • Profit for the period was N3.14 billion. (+64.2% YoY)
  • Earnings per share of 105 kobo Vs 64 kobo YoY
  • Total shareholders fund for the period was N23.55 billion.
  • Net Assets Per Share of N3.93 Vs N4.07 YoY.

See link to results

Arbico Plc projects profit after tax of N25.61million in Q3 2021.

Arbico Plc, a leading construction and civil engineering company in Nigeria, has released its earnings forecasts for the third quarter of the year (Q3, 2021).

  • Revenue was projected at N914.55 million
  • Cost of sales was projected at N548.73 million
  • Total operating expenses projection of N3359.5 million
  • Operating profit was projected at N37.7 million
  • Tax was projected at N122.05 million
  • Profit after tax was projected at N25.61 million.

See link to forecasts.

SFS Real Estate Investment Trust Fund reports a 15% decline in Net Income to N77.04million in Q2 2021.

SFS Real Estate Investment Trust Fund released its unaudited quarterly results for the period ended 30th of June, 2021.

  • Total income for the period was N112.1 million. (-4.7% YoY)
  • Distribution, administration and other expenses totalled N35.09 million. (+29% YoY)
  • Net income for the period was N77.04 million. (-14.8% YoY)
  • Basic earnings per unit of 3.9kobo Vs 4.5kobo YoY.
  • Net assets for the period was N2.32 billion

What you should know:

  • SFS Real Estate Investment Trust is a close-ended Real Estate Investment Trust Scheme in Nigeria which aggregates funds for the primary motive of investing in income-generating real estate. This includes residential homes, residential apartments, office blocks, shopping malls and warehouses

See link to results.

 

ABC Transport MD/CEO purchases additional 2.38 million shares.

The Managing Director/CEO of ABC Transport Plc, Mr. Frank Uzor Nneji has acquired additional 2,375,902 units of ABC Transport Plc shares.

In line with The Exchange’s policy on insider dealing, the formal disclosure was made by the Firm’s Secretary, Onyekachukwu Chigbo.

According to the notice, Mr. Nneji acquired the additional 2.38 million units of the firm’s shares at an average share price of ₦0.37 per share. This put the total consideration for the shares purchased by the Managing Director at ₦879,046.74. In addition, it is pertinent to note that the deal took place in thirty-four (34) tranches between 3rd of June-2nd of July, 2021.

It is imperative to note that the disclosure is in line with the rule 17.15(C) of The Exchange, which demands that all dealings by insiders of listed companies be reported by the management. This is aimed towards ensuring transparency in the system and maintaining stakeholders’ confidence in the financial system.

ABC Transport closed trading today 7th of July, 2021 at ₦0.34 per share.

 

FCMB Pensions Limited acquires 60% stake in AIICO Pensions.

FCMB Pensions Limited, a subsidiary of FCMB Group Pc, has announced the acquisition of a 60% stake in AIICO Pension Managers Limited (‘’AIICO Pensions’’).

This is according to a notice issued by the FCMB Group and made available on the website of the Nigerian Exchange Group Limited (NGX), as seen by Nairametrics.

The breakdown of the acquisition shows that FCMB pensions acquired a 33.9% stake held by AIICO Insurance Plc and 26.1% stake held by other shareholders in AIICO Pensions.

Back story:

On 25th of June 2020, FCMB Pension Limited announced that it is in talks with AIICO Pensions to acquire a total of 96.3% stake in the latter.  The deal was confirmed by both firms in two separate disclosures filed with the defunct Nigerian Stock Exchange (now known as the Nigerian Exchange Limited).

According to the template of the initial deal, FCMB Pensions proposed to acquire 70% stakes held by AIICO Insurance Plc and 26% stake held by other stakeholders in AIICO Pensions.

In a bid to facilitate the deal, the parties sought for prerequisite regulatory approvals, particularly from the Federal Competition and Consumer Protection Commission as well as the National Pension Commission.

Having obtained regulatory approvals, the acquired stake was reduced from the initial 96.3% so as to comply with the transaction structure approved by regulators.

What this deal means

According to the notice, the goal of the recent acquisition is to combine the businesses of FCMB Pensions and AIICO Pensions so as to build a stronger and more resilient business. By the virtue of the deal, AIICO Pensions will now be an indirect subsidiary of FCMB Group Plc.

 

FCMB Pensions Limited (formerly Legacy Pension Managers Limited) is a private limited liability company incorporated on 7th of April 2005. It is duly licensed by the National Pension Commission (PenCom), to carry on business as a Pension Fund Administrator (PFA) as defined under the Pension Reform Act, 2014. FCMB Pensions is a subsidiary of FCMB Group Plc.

Smart Products Nigeria Plc proposes FY 2020 dividend of 10kobo/share.

The Board of Smart Products Nigeria Plc has proposed a FY 2020 dividend payment of 10 kobo per share, to all shareholders whose names appeared in the Company’s Register of Members at the close of business on July 16, 2021.

This is according to a disclosure issued by the company and made available on the website of the Nigerian Exchange Group Limited (NGX).

According to the notice, the proposed dividend will deliberated upon in the forthcoming Annual General Meeting of the company scheduled on 19th of August, 2021. If approved by the board, the dividend will be disbursed electronically to qualified shareholder on 25th of August, 2021. The conditions for qualification are succinctly captured below;

  • The shareholder must have completed the e-dividend registration and mandated the registrar (Meristem Registrars) to pay their dividends directly into their bank accounts.
  • Only shareholders’ whose names appear in the Register of Members as at close of business on 16th of July, 2021 will be considered.

The proposed dividend will be paid on all the outstanding 45,000,000 shares of the company, grossing N4.5 million

What you should know:

  • Smart Products Nigeria Plc had earlier reported a profit after tax of N7.38 billion in FY 2020.
  • To expedite the dividend disbursement process, the Register of Shareholders will be closed from 19th-26th of July, 2021.

 

 

 

2020 FY Results: University Press Plc profit after tax slumps by 55% to N57.1 million.

University Press Plc released its audited full-year results for the year ended 31st of March, 2021.

  • Revenue for the year was N1.42 billion. (-31.3% YoY)
  • Cost of sales was N581.16 million. (-31.2% YoY)
  • Administrative expenses totalled N456.7 million. (-25.3% YoY)
  • Profit for the year was N57.11 million. (-55.1% YoY)
  • Earnings per share of 13 kobo Vs 29 kobo YoY.

See link to results.