UAC of Nigeria Plc announces retirement of a Director.

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UAC of Nigeria Plc has announced the retirement of Dr. Okechukwu John Mbonu from its Board as a Non-Executive Director, effective October 15, 2021.

This is according to a disclosure signed by the Company’s Secretary, Nkemdirim Agboti, which partly reads: ‘’ UAC of Nigeria PLC (“the Company”) wishes to inform the Nigerian Exchange Limited, and the investing public that Dr. Okechukwu John Mbonu, a Non-Executive Direcor of the Company, has retired from the Board of Directors (“the Board”), effective October 15 2021.’’

About Dr. Okechukwu Mbonu

Dr. Okechukwu John Mbonu is an experienced executive manager with history of hand-on experience in senior management and consulting positions. He has strong entrepreneurial skills and competencies in business strategy, planning, transformation, marketing & sales operations, governance, among others. He is currently a partner in Execution Edge Limited, an innovative and value-focused advisory firm based in Nigeria.

Dr. Mbonu was appointed to the Board of UAC of Nigeria Plc., on the 25th of November, 2015. He also served as a member of the Governance and Remuneration Committee of the Company until his retirement. Prior to joining the Board, Dr. Mbonu had served in various leadership positions in renowned institutions, such as: PricewaterhouseCoopers (PWC) Nigeria, Cutix Plc, Nigerian Breweries Plc., among others.

He attended the prestigious University of Manchester, UK, where he obtained a Bachelor’s (Distinction) and Master’s degrees in Mechanical Engineering. In addition, he is a fellow of the Nigerian Society of Engineers and the Nigerian Academy of Engineering.

 

Meanwhile, UAC of Nigeria Plc., closed trading today 18th of October, 2021 with a share price of N10.85 per share.

 

 

AGM Watch: Honeywell Flour Mills Plc Shareholders Approve N555.1 million Dividend.

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The shareholders of Honeywell Flour Mills of Nigeria Plc, have approved the sum of N555.11 million as final dividend for the year ended 31st of March, 2021. This amount translates into a final pay out of 7 kobo per share to shareholders.

A notice sent to the Nigerian Exchange Limited (NGX) today, acknowledged by the company’s secretary, Yewande Giwa,  said the decision was made during the recently concluded 12th Annual General Meeting (AGM) of the company which held at Civic Centre, Victoria Island, Lagos on the 14th day of October, 2021.

Excerpts of the resolutions reached at the AGM read: ‘’That a final dividend of 7 kobo per share, subject to tax, be declared in respect of the year ended 31st of March, 2021, and made payable by 14th October, 2021 to members whose names appear in the Register of Members as at close of business on 3rd September, 2021.’’

Other vital resolutions the company made in the course of the meeting were;

  • The following Directors: Mr. Alan Palmer, Mr. Oluranti Sokunbi and Mrs. Wonuola Adetayo be re-elected as Directors of the Company.
  • That the following individuals be elected into the Statutory Audit Committee; Mr. Adebayo Adeleke, Mrs. Morenike Omilabu and Mr. Ogundipe John Afolabi (representing the Shareholders) and Mr. Andrew Smith-Maxwell and Mrs. Wonuola Adetayo (representing the Board).
  • Directors were authorized to fix the remuneration of the independent auditors of the company- Bakertilly Nigeria

What you should know:

  • Recall that Flour Mills of Nigeria Plc had reported a profit after tax of N1.13 billion for the year ended 31st of March, 2021, indicating a surge of 76% YoY. The firm’s revenue also grew by 36% to N109.6 billion. Consequently, the firm declared a dividend of 7 kobo per share, which is up by 75% YoY.
  • Honeywell Flour Mills of Nigeria Plcis currently trading at N3.69 on the floor of the NGX

 

Infinity Trust Mortgage Bank grows profit after tax by 52% to N447.1 million in 9M 2021.

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Infinity Trust Mortgage Bank Plc released its unaudited financial results for the nine months period ended 30th of September, 2021.

  • Turnover for the period stood at N1.24 billion. (+24.3% YoY)
  • Net fee and commission income of N83.4 million. (+5.6% YoY)
  • Operating income totalled N1.06 billion. (+23.7% YoY)
  • Operating expenses totalled N555.4 million. (+2.8% YoY)
  • Total assets during the period stood at N15.6 billion.
  • Profit after tax was N447.1 million. (+52.3% YoY)
  • Earnings per share of 13.29 kobo Vs 8.37 kobo YoY.

See link to results.

 

2021 9M Results: LivingTrust Mortgage Bank grows profit by 372% to N533.3 million.

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LivingTrust Mortgage Bank Plc released its unaudited financial results for the nine months period ended 30th of September, 2021.

  • Gross Earnings for the period stood at N1.12 billion. (+164.7% YoY)
  • Net fee and commission income of N123.96 million. (+175.6% YoY)
  • Operating income was N967.8 million. (+149% YoY)
  • Operating expenses totalled N416.8 million. (+54.6% YoY)
  • Total assets during the period stood at N10.51 billion.
  • Profit for the period stood at N533.3 million. (+372.3% YoY)
  • Earnings per share of 10.7 kobo Vs 5 kobo YoY.

See link to results.

 

Caverton Offshore Support Group Plc. announces board meeting, closed period ahead of Q3 2021 results.

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Caverton Offshore Support Group Plc has notified the Nigerian Exchange Limited (NGX), its shareholders and all interested parties of its imminent Board of Directors Meeting scheduled to hold on Thursday, 28th of October, 2021.

According to a notice signed by the company’s secretary, Amaka Obiora, the meeting will enable the board members to consider and approve the firm’s unaudited financial statement for the third quarter ended 30th of September, 2021.

Consequently, the firm commenced a closed period for trading in its shares on Friday, 1st of October, 2021. The closed period will persist until 24 hours after the unaudited account of the company for the aforementioned period have been filed with The Exchange (NGX) and made public.

It is pertinent to note that during the closed period, directors, managers, consultants, employees of the company and their associated persons are strictly prohibited from transacting in the company’s shares (that is, buying or selling in the company’s shares).

Attached HERE is a link to the notice.

2021 9M Results: United Capital Plc grows profit after tax by 72% to N5.97 billion.

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United Capital Plc release its unaudited financial statements for the nine months period ended 30th of September, 2021.

  • Gross earnings for the period totalled N11.33 billion. (+60.3% YoY)
  • Fee and commission income of N4.77 billion. (+112.1% YoY)
  • Net operating income was N11.08 billion. (+63.9% YoY)
  • Total expenses were N4.24 billion. (+43.8% YoY)
  • Total assets for the period stood at N400.75 billion.
  • Profit for the period was N5.97 billion. (+72.2% YoY)
  • Earnings per share of 133 kobo Vs 77 kobo YoY.
  • Total shareholders’ fund for the period stood at N26.9 billion.
  • Cost to Income Ratio of 37.4% Vs 41.67% YoY

Commenting on the results, the Group CEO of United Capital Plc, Mr Peter Ashade said: ”I am pleased to inform our stakeholders that United Capital ended the third quarter of the year with another outstanding performance. We delivered an increased revenue of 60% year-on-year, PBT growth of 72% year-on-year to N7.09b and total asset growth of 80% year-to-date.

”During the period under review, United Capital successfully listed three series commercial papers worth N19.72 billion on the FMDQ Securities Exchange. The CPs were issued under the company’s N50 billion commercial paper issuance program. This has further positioned us as a company to provide a wider range of wholesale financing solutions to our clients and complement funding base and support for all our businesses.

”Another remarkable point to note was the Nigerian Stock Exchange’s reclassification of United Capital shares from Low Price Stock Group to Medium Price Stock Group in August 2021 driven by steady growth in the company’s share price over the past months due to our consistent impressive performance over the years.

”I want to assure our stakeholders that we are optimistic on sustaining this exciting performance in the last quarter of the year and beyond. We remain focused on our transformation agenda and to continue to provide best-in-class solutions to all client segments. We are also committed to deliver superior returns as we seek to always delight our shareholders.”

See link to results.

Meyer Plc grows profit by 109% to N9.5 million in 9M 2021.

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Meyer Plc released its unaudited financial statements for the nine months period ended 30th of September, 2021.

  • Revenue for the period was N759.2 million. (+34% YoY)
  • Cost of sales was N504.7 million (+40% YoY)
  • Administrative expenses totalled N323.4 million. (-8% YoY)
  • Total assets for the period stood at N2.05 billion
  • Profit for the period was N9.47 million. (+109% YoY)
  • Earnings per share of 2 kobo. (+110% YoY)

See link to results.

Lotus Halal Fixed Income announces dividend of N22 per unit for Q3 2021.

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Lotus Capital Limited has declared its Q3, 2021 dividend distribution of N22/unit to unit holders in the Lotus Halal Fixed Income Fund, whose names appear on the company’s register as at Thursday, October 14, 2021.

This is according to a notification issued by the firm to its unit holders, as seen by Nairametrics.

Accordingly, payment will be made by the Fund Manager of the Lotus Halal Fixed Income Fund on Tuesday, October 19, 2021

The recent declaration raises the total amount of dividend distributed under this category of investment; Lotus Halal Fixed Income Fund, to N62.85 per unit, since the beginning of this year. Recall that firm had earlier paid its fixed income fund unit holders a dividend of N20 per unit in the first quarter of the year (Q1, 2021) on April 15, 2021. It subsequently followed this up with another payment of N20.85 per unit in the second quarter of the year (Q2, 201) on July 13, 2021.

What you should know:

  • Lotus Capital is a full-fledged halal investment management company, specializing in Shari’ah compliant asset management, private wealth management and financial advisory services.

 

Secure Electronic Technology Plc grows profit after tax by 143% to N6.23 million in Q3 2021.

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Secure Electronic Technology Plc released its unaudited financial statements for the third quarter ended 30th of September, 2021.

  • Gross sales for the period was N1.03 billion (-4.1% YoY)
  • Net income of N62.8 million. (+65.7% YoY)
  • Administrative expenses totalled N56.32 million. (+8.4% YoY)
  • An operating profit of N6.44 million was recorded during the period.
  • Total assets for the period stood at N3.5 billion
  • Profit after tax of N6.23 million. (+143.3% YoY)

See link to results.

May & Baker Nigeria Plc announces board meeting, closed period ahead of Q3 2021 results.

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May & Baker Nigeria Plc has announced that its board of directors will meet on 27th of October, 2021 to consider and approve the unaudited financial results of the company for the third quarter of the year (Q3) ended September 30, 2021.

Consequently, the firm also announced that it has commenced a closed period in the trading of its shares from October 1, 2021. The closed period will persist until 24 hours after the firm’s unaudited financial statements have been filed with the Nigerian Exchange Group Limited (NGX) and made public.

This is according to a disclosure signed by the Company’s secretary, Mrs. Adetoun Abiru and sent to the Nigerian Exchange Limited (NGX).

It is pertinent to note that the closed period is in line with Rule 17.18(a) (Closed Period Rules) of the NGX’s Rule Book (2015). During this period, individuals with sensitive information about stock performance such as; Directors, managers, employees, consultants and their connected persons, are prohibited from trading in the shares of the bank either directly or indirectly.

For more information about the board meeting, click HERE.