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.

Seplat Energy announces board meeting, closed period ahead of Q3 2021 results.

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Seplat Energy has notified its shareholders, the Nigerian Exchange Limited (NGX) and the investing public of its imminent Board of Directors Meeting scheduled to hold on Wednesday, 27th of October, 2021.

According to a statement signed by the company’s secretary, Mrs Edith Onwuchekwa, the meeting will avail the Board members the opportunity to discuss the company’s Q3 2021 financial results.

The details of the meeting are as follows;

  • Date: Wednesday, 27th October 2021
  • Venue: Via Teleconference, Lagos Office
  • Time: 9:00am – 3:00pm

Additional, in line with the provisions of Clause 17:18 of the Nigerian Exchange Limited Listing Rules (as amended), the firm announced that it will be observing its closed period from Thursday 30th of September, 2021 to Friday, 29th of October, 2021 or 24 hours after the release of its financial results.

Accordingly, no Director, Employee, Person Discharging Managerial Responsibility, Adviser(s) of the Company and their connected persons may directly or indirectly deal in the shares of the Company in any manner during the closed period.

About SEPLAT

Seplat ENERGY Plc is a leading indigenous Nigerian energy company with a strategic focus on Nigeria, listed on the Premium Board of the Nigerian Exchange Limited (“NGX “) (NGX:SEPLAT) and the Main Market of the London Stock Exchange (“LSE”) (LSE:SEPL)

MTN Nigeria Plc: Notice of Board Meeting.

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MTN Nigeria 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, Uto Ukpanah, and filed with the Nigerian Exchange Limited (NGX).

According to the notice, the board meeting is scheduled to enable the Directors review and approve the company’s unaudited financial accounts for the nine months ending 30th of September, 2021.

In line with the post-listing requirements of the NGX, 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.

AXA Mansard Insurance Plc completes share reconstruction exercise.

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AXA Mansard Insurance Plc has announced the successful completion of its share reconstruction exercise, and the subsequent lifting of the closed period embarked upon by the firm during the period.

This was confirmed by the firm in a recent press release signed by its secretary, Mrs. Omowunmi Mabel Adewusi, and filed with the Nigerian Exchange Limited (NGX).

Recall that in an earlier notice dated 7th of September 2021, the Insurance firm had notified shareholders and the investing public of its plans to reconstruct or redenominate its shares from a nominal value of 50 kobo to N2 per share. The firm claimed that it had obtained approval from its shareholders during its Extraordinary General Meeting to proceed with this.

In a bid to facilitate the reconstruction exercise, trading in the shares of AXA Mansard Insurance Plc were suspended from Thursday 9th of September, 2021, so that shareholders’ register can be updated with the reconstructed shares.

However, in a recent development, the firm has notified its shareholders and the general public that it has completed the exercise and lifted the embargo placed on the trading of its shares. Confirming the recent development, the insurance giant  in the recent press release said: ‘’Following the communication to the Nigerian Exchange Limited and to the esteemed shareholders, dated 7 September 2021, on the planned suspension of trading on the shares of AXA Mansard Insurance Plc (“AXA Mansard” or the “Company”) on 09 September 2021, in order to effect the share reconstruction / redenomination of AXA Mansard shares, kindly note that the share reconstruction has now been effected, and the reconstructed shares have been credited to each shareholder’s account.

‘’The suspension of trading on the Company’s shares has also been lifted and the shares can now be traded. Please take this as notice in respect of the above.’’

What you should know:

  • A share reconstruction exercise also known as ‘reverse stock split’ is just a way of technically reducing the number of outstanding shares of a company and increasing its share price without affecting market value. For instance, a firm with 10 billion units of ordinary shares of 50k each with a market price of N5 can decide to reconstruct 2 shares into 1. This will reduce the firm’s number of issued share capital, but not the value of shares held by shareholders.
  • Consequently, AXA Mansard Insurance Plc’s entire issued share capital of 36,000,000,000 ordinary shares of 50 kobo each at N0.50 per share prior to the share capital reconstruction exercise was delisted from the Nigerian Exchange Limited (NGX) daily official list, while 9,000,000,000 ordinary shares of 50 kobo each at N2 per share arising from the share capital reconstruction were listed on the exchange’s daily official list.

Fidelity Bank Plc announces notice of board meeting, closed period.

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Fidelity Bank Plc has announced that its board of directors will meet on 26th of October, 2021 to review and approve the unaudited financial results of the Bank for the third quarter of the year (Q3) ending September 30, 2021.

Consequently, the firm also announced that it will observe a closed period from October 1, 2021 until 24 hours after the Bank’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 Bank’s secretary, Ezinwa Unuigboje 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.

Nigerian Breweries Plc: Notice of Board Meeting.

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Nigerian Breweries 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, Uaboi Agbebaku, 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 September 28, 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.

 

2020 FY Results: Eunisell Interlinked Plc grows profit after tax by 44% to N14.52 million.

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Eunisell Interlinked Plc released its audited full year results for year ended June 30, 2021.

  • Revenue for the period was N225.6 million. (+35% YoY)
  • Operating expenses totalled N57.8 million. (-18% YoY)
  • Total assets at the period stood at N651.25 million. (+38% YoY)
  • Profit after tax was N14.52 million. (+44% YoY)
  • Total shareholders’ funds of N181.9 million. (+9% YoY)
  • Earnings per share of 6.13 kobo Vs 4.27 kobo YoY.

See link to results.

 

Northern Nigeria Flour Mills Plc appoints Rabi’u Gwarzo as new board chairman.

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Northern Nigeria Flour Mills Plc today announced the appointment of Alhaji  Rabi’u M. Gwarzo (OON), as the new Chairman of its Board of Directors. He replaces Alhaji Alhassan Aminu Dantata (CON) who resigned as Board chairman on 9th September 2021.

The recent development is part of the resolutions reached at the recently concluded Board of Directors meeting of the company, held at Bristol Palace Hotel in Kano State, on the 9th day of September, 2021.

Confirming the recent development, the firm in a statement signed by its secretary, Theophilus Ogwuche, and filed with the Nigerian Exchange Limited (NGX), stated that: ‘’At the Meeting of the Board of Directors of Northern Nigeria Flour Mills Plc (the Company or NNFM) held at THE BRISTOL PALACE HOTEL, 54/56 GUDA ABDULLAHI ROAD, FARM CENTRE, KANO on THURSDAY, 9th SEPTEMBER, 2021 the following resolutions were duly passed.

‘’That the Board of Directors of NNFM Plc has accepted the resignation of Alhaji Alhassan Aminu Dantata CON from the Board of NNFM Plc with effect from 9th September 2021.

‘’That following this resignation, the Board of Directors has appointed Alhaji Rabi’u M. Gwarzo, OON as the new Chairman of the Board.’’

About Rabiu Gwarzo

Until his recent appointment, Alhaji Rabiu Gwarzo served as the Vice Chairman of Northern Nigeria Flour Mills Plc. He started his educational career with a brief stint at Bayero University Kano and proceeded to West Ham College and North East London Polytechnic, both in London where he studied Commercial Accounting between 1972 and 1975.  He holds a Certificate in Accounting and Finance of University of Strathclyde, Glasgow, Scotland (1982).

He joined Northern Nigeria Flour Mills Plc as an Accountant in 1985, rose to the position of Deputy Managing Director in 1991 ; Managing Director in 1997 and was elevated to the position of Vice-Chairman of the Company in 2011.

Alhaji Rabiu, (an Officer of the Order of Niger), who joined the Board of Flour Mills of Nigeria Plc. as a non-executive member on 8th December, 2009, is also a member of Kano Peace Development Initiative and a Director of Kano State Investment Company Limited.

 

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.

2020 FY: Guinness Nigeria declares N1.01 billion final dividend.

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Guinness Nigeria Plc has declared a final dividend of N0.46k per 50 kobo ordinary share, which amounts to N1.01 billion for the financial period ended June 30, 2021.

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

It is pertinent to note that the final dividend of 46 kobo per share which is subject to appropriate withholding tax and approval will be paid on all of the company’s 2,190,382,819 outstanding shares. This puts the total amount to be disbursed as final dividends N1, 007,576,096.74

Consequently, on 20th of October 2021, the dividend will be paid electronically to the shareholders whose names appear in the Register of Members as at the close of business on September 28, 2021.

To facilitate and expedite the payment process, the Company’s Register of Shareholders will be closed from 29th of September to 4th of October, 2021. In addition, the company will be hosting its Annual General Meeting in Lagos on 19th of October 2021, to approve the disbursement and discuss other pertinent issues.

To qualify for participation, shareholders are urged to ensure that their names appear on the Company’s Register of Members as at the aforementioned date and ensure that they complete the e-dividend registration form. They are also expected to mandate the Registrar (Veritas Registrars Limited) to pay their dividends directly into their bank accounts.

What you should know:

  • Guinness Nigeria Plc had earlier recorded a 110% surge in its bottom line to N1.26 billion for the 2020 FY Period. Other key financial metrics also recorded a double digit growth, such as top line which grew by 54% YoY to N160.42 billion and earnings per share (EPS) which printed 57 kobo, advancing by 110% YoY.
  • Based on its impressive performance for the period, a dividend of 46 kobo per share, totalling over N1 billion was declared for the period.
  • Guinness Nigeria closed trading today 27th of September, 2021 at N30 per share.