NAIRAMETRICS| COMPANY EARNINGS

CHI Plc to hold Annual General Meeting on 2nd of September

9 August 20219 August 2021 Chidi Emenike Leave a comment

The Board of Consolidated Hallmark Insurance Plc has announced that it will be hosting its 26th Annual General Meeting on the 2nd of September, 2021.

According to a notice signed by the company’s secretary, Rukevwe Falana, and sent to the Nigerian Exchange Limited (NGX), the meeting will hold at Four Points by Sheraton, Victoria Island-Lagos, by 11:00am prompt.

In light of this, the following issues will be discussed;

The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
Board appointments will also be considered and ratified.
To fix remuneration of managers and Directors in FY 2021.
To elect shareholders’ representatives of the statutory audit committee.

For more details about the AGM, click HERE.

Ellah Lakes Plc appoints Robert Grant as Chief Financial Officer

9 August 20219 August 2021 Chidi Emenike Leave a comment

Ellah Lakes Plc has announced the appointment of Mr Robert Grant as its Chief Financial Officer (CFO), effective from 1st of September, 2021.

The appointment was announced in a notice sent to the Nigerian Exchange Limited (NGX) today which reads: ‘’ Ellah Lakes Plc. (“Ellah Lakes”, or “the Company”) is pleased to announce the appointment of Mr. Robert Grant as the Chief Financial Officer (CFO) of the Company.’’

Robert Grant has over 20 years of investment banking and consulting experience and is currently the Head of Infrastructure Financing at First City Monument Bank. He joined FCMB Capital Markets as a Vice President in 2012 having previously spent 5 years at First City Monument Bank Limited. Prior to that, he was the acting CFO of Ghana Telecom from 2003 to 2006 and he was a director at Lucent Technologies between 1999 and 2002 and a Vice President at TD Securities from 1995 to 1999. He has been a team leader on the successful execution of numerous project and structured finance deals in the power, oil & gas and telecommunications sectors.

Robert holds an MBA from New York University’s Stern School of Business, New York, NY and a B.Sc.Accounting from Hayward State University, Hayward, CA.

Commenting on the recent development, the Chief Executive Officer/Managing Director of Ellah Lakes Plc, Mr. Chuka Mordi said: ‘’We are extremely pleased to have such a seasoned professional like Robert Grant joining our team, and we are very excited at the wealth of experience and capacity that we now have at our disposal, for the next stage of growth at Ellah Lakes Plc”

What you should know:

Ellah Lakes is a diversified Nigerian agribusiness operator with focus on production of oil palm, cassava, maize, soya bean and their derivative products. The firm was established in 1980 and is currently listed on the mainboard of the Nigerian Exchange Limited (NGX).
The firm closed trading today 9th of August, 2021 with a share price of N4.25

Nestlé S.A invests additional N175.2 million in shares of its Nigerian subsidiary.

7 August 20217 August 2021 Chidi Emenike Leave a comment

Nestlé S.A, a leading multinational food and beverage company, has invested an additional N175.2 million in shares of its Nigerian Subsidiary (Nestlé Nigeria Plc).

This disclosure was made by Nestlé Nigeria Plc, in a notification issued and signed by the Company’s Secretary, Bode Ayeku.

According to the notice, Nestlé S.A acquired additional 125,513 units of Nestle Nigeria Plc shares at a price of N1, 396 per share. This puts the total consideration for the shares purchased by the parent company at N175, 216,148.

Additionally, it is worthy to note that the recent transaction which took place on the floor of the Nigerian Exchange Limited, were effected in three tranches in the following dates; 4th, 5th and 6th of August, 2021.

Breakdown of the deal

In the first tranche which took place on the 4th of August 2021, the parent company purchased additional 43,104 units of its Nigerian subsidiary shares at N1,390.4524 per share, totaling N59,934,060.25
Subsequently, the firm purchased an additional 52,704 units of the latter’s share at N1,399.2157 per unit, worth N73,744,264.25
In the last tranche which took place on 6th of August 2021, the firm purchased a further 29,705 units of shares at N1, 398.7459, totaling N41, 549,746.96
In light of this, a total of 125,513 units of Nestle Nigeria’s share were purchased at an average price of N1,396, totaling N175.2 million.

This recent transaction will further raise the stakes and cement the position of Nestlé S.A as the majority shareholder in its Nigerian subsidiary (Nestlé Nigeria Plc).

What you should know

Nestlé S.A is a leading Swiss multinational food and drink processing company and the parent company of Nestlé Nigeria Plc. According to Wikipedia, it is the largest food company in the world, measured by revenue and other metrics, since 2014
Nestle Nigeria Plc closed trading for the week ended 6th of August, 2021 with a share price of N1,540 per share.

Dividend: Northern Nigeria Flour Mills to pay interim dividend of 15 kobo per ordinary share.

6 August 20216 August 2021 Chidi Emenike Leave a comment

Northern Nigeria Flour Mills Plc has announced to pay an interim dividend of 15 kobo per ordinary share to its shareholders. The payment which is subject to appropriate withholding tax and approval will be paid to shareholders, whose names appear in the Register of Members as at close of business on 24th of August, 2021.

The dividend payment is for the period ended June 30, 2021.

In a statement signed by the company’s secretary, Theophilus Ogwuche, the milling firm disclosed that on 10th of September, 2021, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at 24th of August, 2021, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.

Additionally, the milling firm revealed that the Register of Shareholders will be closed from 25th of August to 27th of August, 2021.

In light of the above, it is imperative to note that the dividend payment is coming on the back of an impressive Q1, 2021 financial results posted by the firm. In its recently released first quarter results for the period ended June 30, 2021, the firm posted a 21% increase in profit after tax to N82.0 million. Earnings per share also printed at 46 kobo during the aforementioned period.

About Northern Nigeria Flour Mills Plc

Northern Nigeria Flour Mills Plc is a Nigerian-based milling company, engaged in the milling of wheat and other associated grains. It also sells products Golden Penny products purchased from Flour Mills of Nigeria Plc (its parent company). Some of the products produced by Northern Nigeria Flour Mills Plc include; wheat flour, semovita, wheat offal, masaflour, germ flour, masavita, corn offal, etc. The company’s head office is in Kano, Nigeria.

Northern Nigeria Flour Mills Plc closed trading for the week ended 6th of August, 2021 on the floor of the Nigerian Exchange Limited (NGX) at N6.15 per share. Its total shares outstanding for the period stood at 178,200,000.

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

6 August 20216 August 2021 Chidi Emenike Leave a comment

JAIZ Bank Plc has announced that its board of directors would meet on Tuesday, August 24, 2021 to consider among other things, the appointment of new directors into its board.

Consequently, the firm also announced that it would observe its closed period from August 6, 2021 until the outcome of the meeting is published with the Nigerian Exchange Group Limited.

This is according to a disclosure signed by the Bank’s secretary, Rukayat Dahiru and sent to the Nigerian Exchange Group Limited (NGX).

Accordingly, the announcement of a 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.

What you should know:

JAIZ Bank Plc had earlier posted an impressive half year performance, recording an 83% increase in its profit after tax figures for the period ended June 30, 2021 (HY, 2021). During the aforementioned period, the bank posted a PAT of N1.99 billion.
The bank closed trading for the week ended 6th of August, 2021 with a share price of 62 kobo.

For more information about the board meeting, click HERE.

Ellah Lakes Plc: Notice of Board Meeting.

5 August 20215 August 2021 Chidi Emenike Leave a comment

Ellah Lakes Plc has announced that it will be hosting a Board meeting in Lagos on the 17th of August, 2021.

This is according to a notice issued by the company and sent to the Nigerian Exchange Group Limited today.

According to the notice, the meeting will enable the Board Directors to consider the company’s financial statement for the year ended 31 July, 2021. Decisions reached at the meeting will be subsequently communicated.

In addition, the firm also announced a closed period from 2nd of August 2021 until 24 hours after the company’s financial statement and outcome of the board meeting have been made public in line with the Rulebook of the Nigerian Exchange Limited.

Here is a link to the notice.

CHI Plc approves interim dividend worth N214.09 million for 2021 half year.

5 August 20215 August 2021 Chidi Emenike Leave a comment

The Board of Consolidated Hallmark Insurance Plc has approved the payment of an interim dividend of N214.09 million representing 2 kobo per share on all the outstanding 10,704,500,000 shares of the company for the period ended June 30, 2021.

According to a notice signed by the company’s secretary, Rukevwe Falana and filed with the Nigerian Exchange Group Limited (NGX), the dividends will be paid on the 2nd of September, 2021, to all qualified shareholders whose names appear on the Register of Members as at close of business on Friday, August 13, 2021.

Confirming the recent development, a part of the notice filed with the Exchange read: ‘’ An interim dividend of 2Kobo per ordinary share of 50Kobo subject to appropriate withholding tax will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday, August 13, 2021’’

To fast track the process, the company also announced that it will close the register of its shareholders from 16th of August to 20th of August, 2021.

To effectively participate in the recent corporate action, shareholders are to fulfill the following requirements;

Shareholders must have completed e-dividend registration.
Shareholders must have authorized the company’s registrar (Meristem Registrars and Probate Services Limited) to pay the dividends directly into the respective shareholder’s bank account.

What you should know:

CHI Plc had earlier reported a profit after tax of N436.5 million for the half year period ended June 30, 2021, indicating an increase of about 47.7% YoY. Earnings per share also printed at 5.4 kobo during the period under review
CHI Plc is currently trading on the floor of the NGX at 59 kobo/share.