Regency Alliance Insurance Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021) ending 31st of December, 2021.
See link to forecasts.
Standard Alliance Insurance Plc has notified its shareholders, the investing public and other relevant stakeholders that it will be hosting a Board of Directors Meeting on Thursday, October 28, 2021.
This is according to a notice signed by the company’s secretary, Kasoki Hart Olekanma, and filed with the Nigerian Exchange Limited (NGX).
According to the notice, the board meeting is scheduled to enable the Directors deliberate on and approve the company’s unaudited financial accounts for the third quarter ended 30th of September, 2021.
Consequently, in line with Rule 17.18 of the Rulebook of the Nigerian Exchange Limited (NGX), the company disclosed that it had already commenced a closed period from October 1, 2021. The closed period will last until 24 hours after the financial results have been released to the NGX and made public.
During the closed period, all insiders such as: Director, persons discharging managerial responsibilities, and advisers of the Company 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.
International Breweries Plc has announced that its board of directors will meet on Wednesday 27h of October, 2021 to deliberate on the company’s unaudited financial results for the period ended September 30, 2021 and other related matters.
Consequently, the company announced that it has already commenced a closed period from September 30, 2021. The closed period is expected to persist until 24 hours after the firm’s unaudited financial statements have been filed with the Nigerian Exchange Group Limited and made public.
This is according to a disclosure signed by the company’s secretary, Muyiwa Ayojimi and sent to the Nigerian Exchange Group 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.
In a bid to expedite its winding up process, the Liquidator of Rak Unity Petroleum Company Plc, have given shareholders of the company with unclaimed dividends until 31st of October, 2021 to claim their dividends or risk forfeiting it to the Companies Liquidation Account.
This is according to a notice signed by the Liquidator, Mrs Chinwe Chiwete and filed with the Nigerian Exchange Limited (NGX).
Corroborating this, the recent notice filed with the NGX reads: ‘’Notice is hereby given that pursuant to the Companies and Allied Matters Act 2020 and the Companies Winding-Up Rules (‘’Applicable Laws’’), the Liquidator is required before dissolution of the Company to pay all unclaimed dividends or undistributed assets of the Company in the hands or under the control of the Liquidator into public fund of the Federation kept by the Corporate Affairs Commission (‘the Commission’’) and known as Companies Liquidation Account.
‘’Accordingly, the details of concerned shareholders and investors have been uploaded in the company’s website http://www.rakunity.com The concerned shareholders and Investors are requested to follow the steps stated in the website and claim dividend on or before 31st of October, 2021 otherwise the Liquidator shall, with a view to complying with the Applicable Laws, take the necessary actions to transfer the unpaid/unclaimed dividend into the Companies Liquidation Account.’’
Individuals with further questions concerning the announcement or developments related to the information are urged to contact the Liquidator via email at: [email protected]
What you should know:
The Board of Directors of Guinness Nigeria Plc has extended the timeline for the payment of its FY 2020 final dividend by a week, from an initial proposed date of 20th of October to 27th of October, 2021.
This is according to a recent notice sent to the Nigerian Exchange Group Plc (NGX) and captioned: ‘’Update on Corporation Actions Announcement,’’ as seen by Nairametrics.
Key findings from the recent notice revealed that;
Recall that Guinness Nigeria Plc had earlier earmarked a total sum of N1.01 billion as final dividend to be paid to the shareholders of the company who currently hold the 2,190,382,819 fully paid ordinary shares of the company.
For more information about the recent disclosure, click HERE.
Renowned Dutch brewing company, Heineken N.V, has launched a mandatory takeover bid for the acquisition of up to 1,196,799,164 ordinary shares (the ‘’Offer Shares’’) from the other shareholders of Champions Breweries Plc. The Dutch giants made the offer through its wholly-owned subsidiary, Raysun Nigeria Limited.
This is according to a recent notice signed by the Chairman of Champions Breweries Plc., Dr Elijah Akpan, and filed with the Nigerian Exchange Limited (NGX).
According to the disclosure, the mandatory take-over is being effected in accordance with the directives of the regulator subject to the provisions of Section 131, Part XII of the Investment and Securities Act, No. 29, 2007 (as amended) and Rule 445 of the Securities and Exchange Commission (“SEC”) Rules and Regulations, 2013 (as amended).
Recall that in January 2021, Raysun Nigeria Limited had acquired over 1.9 million shares of the local brewer- Champion Breweries at N2.60 per share, totalling N4.95 billion. The transaction helped to raise the ownership stake of Raysun from about 60.5% recorded as of 31st of December, 2020 to 84.7% in January 2021. The deal gave Raysun the leverage to launch a takeover bid.
Subsequently, on 10th of May 2021, the Board of Raysun granted approval for a take-over offer to be made to all the other remaining shareholders of the Company other than Raysun, for the acquisition of the Offer Shares representing 15.3% of the total issued and fully paid-up share capital of the Company.
Additionally, it is imperative to note that Raysun has received the Securities and Exchange Commission’s (SEC) authority to proceed with the Offer and will file the offer document with the regulator, for registration purpose. Following the registration, Raysun will make a tender for the Offer Shares, which the Shareholders may either accept or turn down.
What you should know:
The Board of Directors of Trans-Nationwide Express Plc (TRANEX Plc) has notified the Nigerian Exchange Limited (NGX) and the general public of the resignation of its Managing Director, Mr Theodore Chikelu.
According to a notice signed by the company’s secretary, Adesua Akintemi, and filed with the Nigerian Exchange Limited (NGX), the resignation of Mr Chikelu has been duly accepted by the Board.
The Board seized the opportunity to thank the outgoing boss for his valuable contributions during his tenure as the Managing Director/CEO of the company, and wished him well in his future endeavours.
On the other hand, the company revealed that the NGX and the general public will be notified once a new Managing Director/CEO is appointed.
About Theodore Chikelu
Mr Theodore Chikelu is an expert in developing emerging and niche markets. His work experience spans across the public and private sectors. He joined Trans-Nationwide Express Plc (TRANEX) in October 2018 as Chief Operating Officer and was later promoted to the Managing Director of the Company, following the retirement of his predecessor, Chidinma Iheme.
Prior to joining TRANEX, he was the MD/CEO of Jet Afrique Aviation Services Ltd, an aviation support and charter company. He also gained valuable work experience from some leading Nigerian Airlines, including Bellview Airlines, Arik Airlines, among others.
Chikelu holds a Bachelor’s degree in Geography and a Master of Public Administration degree from the prestigious University of Nigeria, Nsukka. He is a member of the Institute of Personnel Management of Nigeria and the Institute of Management Consultants.
Trans-Nationwide Express Plc formerly known as TNT Skypak Nigeria Limited is a leading logistics company engaged in domestic and International Express delivery, haulage, freight and other ancillary transportation and storage services. It was established in 1984.
Airtel Africa Plc, a leading provider of telecommunications and mobile money services, has announced the appointment of Ms Tsega Gebreyes as an independent non-executive director with immediate effect.
Ms Gebreyes appointment was announced in a statement released by the company to the Nigerian Exchange Limited (NGX) and signed by the Group Company Secretary, Simon O’Hara.
About Tsega Gebreyes
Ms. Gebreyes, an Ethiopian by nationality, is an accomplished financial expert and administrator. She sits on the boards of several private and non-private companies operating in Africa and beyond, serving in various capacities that includes but not limited to; audit, remuneration, finance committees, etc. She currently serves as a Non-Executive Director of the London Stock Exchange Group and as a Vice Chair of SES, a publicly listed company in Luxembourg.
She is the founding partner of Satya Capital Limited, a private investment firm that specializes in Africa related investments. She served as Chief Business Development and Strategy Officer of Celtel International BV and Senior Advisor to Zain. Her previous experience includes her role as a founding partner of the New Africa Opportunity Fund, LLP, a $120 million private equity Fund anchored by Citibank. She has served in various positions at Citibank and McKinsey
Ms. Gebreyes holds a bachelor’s degree from Rhodes College and an MBA from Harvard Business School.
Commenting on her appointment, the Chairman of Airtel Africa Plc, Sunil Bharti Mittal said: ‘’On behalf of the Board, I am delighted that Tsega has agreed to join the Airtel Africa Board and we very much look forward to working closely with her. Tsega brings with her great telecommunications experience, working and investing in Africa and above all solid financial acumen. All this adds additional knowledge base at the Board”
Access Bank Plc has finally completed the acquisition of a majority stake of about 78.15% in African Banking Corporation of Botswana Limited (‘BancABC Botswana’).
The recent move which is in line with the Bank’s commitment of expanding its presence in the African continent was announced through a notice signed by its Secretary, Sunday Ekwochi, and filed with the Nigerian Exchange Limited (NGX).
Recall that Access Bank had reached an agreement to acquire a majority stake in BancABC earlier in April this year. According to the reports, the deal would see Access Bank acquire the latter for an undisclosed cash amount of about 1.13 times the book value plus a two-year deferred payment. With the conclusion of the deal, Access Bank now has a presence in ten African countries, after similar acquisitions in financial institutions domiciled in Zambia, South Africa, Mozambique, among others.
According to the statement issued by the financial giant, BancABC Botswana is the fifth largest bank in Botswana and is a well-capitalised franchise poised for growth in its local market. The new acquisition will form part of the Bank’s nexus for trade and payments in Southern Africa and the broader COMESA trade region. The deal will also afford Access Bank the opportunity to leverage on BancABC strong retail banking space to provide products that would benefit its local markers and enable it compete strongly across core business segments.
Commenting on the transaction, the GMD/CEO of Access Bank Plc, Dr Herbert Wigwe said: ‘’We are pleased with the successful conclusion of this transaction which will provide significant synergies by combining BancABC Botswana’s strong retail banking operation with Access Bank’s wholesale banking capabilities. It will also strengthen the quality of earnings through revenue diversification and growth in the corporate and SME banking segments for BancABC Botswana. The combination is another step towards our broader vision of becoming the World’s most respected African bank.’’
What you should know:
The Board of Conoil Plc has revealed that it will pay a total sum of about N960 million to its shareholders as the final dividend for the period ended 31st of December, 2020.
According to a recent notice issued by the company and filed with the Nigerian Exchange Limited (NGX), Conoil Plc is expected to pay a final dividend of N1.50 per share on all the outstanding 693,952,117 ordinary shares of the company. This brings the total dividend payout to qualified shareholders to approximately N960 million.
The final dividend will be paid electronically to shareholders on the 19th of November, 2021, subject to appropriate withholding tax and approval at the Compan y’s forthcoming Annual General Meeting.
The conditions for qualification demands that only shareholders whose names appear on the Register of Members as at Friday, 2nd July, 2021 and who have completed their e-dividend registration and mandated the Registrar (Meristem Registrars and Probate Services Limited) to pay their dividends directly into their Bank accounts, are qualified to participate.
It is pertinent to note that the recent dividend declaration of N1.50 is 25% lower than the amount declared in corresponding period of last year (FY 2019: N2 per share). This decrease might be attributed to a dip in key financial metrics of the company for the current period under review. For example, in its FY 2020 report, the company’s revenue and profit for the year declined by 16% and 27% to N117.5 billion and N1.44 billion respectively. Its earnings per share also printed N2.08 as against N2.84 printed in corresponding period of 2019.
Conoil plc opened trading today 12th of October, 2021 with a share price of N25.50 per share.