ABC Transport MD/CEO purchases additional 2.38 million shares.

Chidi Emenike Leave a comment

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.

 

Total Nigeria Plc projects profit after tax of N2.34 billion in Q3 2021.

Chidi Emenike Leave a comment

Total Nigeria Plc released its earnings forecasts for the third quarter of the year (Q3, 2021).

  • Revenue was projected at N66.03 billion.
  • Cost of sales was projected at N54.7 billion.
  • Administrative expenses was projected N7.0 billion.
  • Operating profit was projected at N4.03 billion.
  • Net finance costs projection of N570 million.
  • Tax was projected N1.12 billion.
  • Profit was projected at N2.34 billion.

See link to forecasts.

FCMB Pensions Limited acquires 60% stake in AIICO Pensions.

Chidi Emenike Leave a comment

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.

Heineken B.V elects to receive scrip dividend of additional 40.56m Nigerian Breweries Shares.

Chidi Emenike Leave a comment

Heineken Brouwerijen B.V, a substantial shareholder in the Nigerian Breweries Plc, has elected to receive its final dividend for the period ended 31st of December 2020, in form of additional 40.56 million shares of the latter.

This is according to an official notice signed by the company’s secretary, Uaboi Agbebaku and made available on the website of the Nigerian Exchange Group Limited (NGX).

Recall that in April this year, the Nigerian Breweries Plc announced the ‘Scrip Dividend Election Scheme’, an option that gives qualified shareholders the opportunity to choose to receive their final dividends in the form of new ordinary shares of the company instead of cash.

The Scrip Dividend Election Scheme permits qualified shareholders to increase their stake in the company by acquiring new ordinary shares without paying transaction fees.

In light of the above, Heineken Brouwerijen B.V elected to receive 40,555,281 units of Nigerian Breweries Shares at a reference share price of N47.75 per unit. The reference share price was calculated using the 10-day average closing share price of the company’s traded shares starting on the 11th of March, 2021.

What you should know:

  • Nigerian Breweries Plc had earlier reported a profit after tax of N7.53 billion in FY 2020, indicating a decline of about 54.3% when compared with the amount declared in similar period of 2019. In line with the decreased earnings, the proposed final dividend of the company declined from N1.51 as at FY 2019 to 69 kobo in FY 2020.
  • Heineken Brouwerijen B.V holds the highest stake in the Nigerian Breweries Plc. As at 31st of December 2020, the former holds about 37.94% of the latter’s issued and fully paid-up shares.
  • Additionally, it is imperative to note that the recent action will help Heineken Brouwerijen B.V tighten its grip on the Nigerian Breweries by an additional 1.34%.

In case you missed it:

Nairametrics had earlier reported that Nigerian Breweries Plc is set to pay Heineken BV a mega dividend of about N2.9 billion.

 

UAC of Nigeria Plc approves disbursement of dividends worth N3.46 billion to shareholders.

Chidi Emenike Leave a comment

The Board of UAC of Nigeria Plc has approved the disbursement of total dividends worth N3.46 billion representing N1.20 per share for the 2020 financial year.

The decisions is part of the resolutions reached at the recently concluded Annual General Meeting of the company, held at Marina, Lagos on 30th of June, 2021.

The breakdown of the total dividend of N1.20 per share shows that the sum of 65 kobo per share was allocated as ordinary dividend to shareholders, while an additional 55kobo per share was earmarked as special dividend to qualified shareholders. The total dividend will be paid on all the outstanding 2,881,296,580 ordinary shares of the company.

In line with the above, it is imperative to note that the approved dividend which is subject to appropriate withholding tax will be paid out to all the shareholders, whose names appear on the Register of Members as at the close of business on 14th of June, 2021.

Affirming this, a notice issued by the company read: ‘’ That an ordinary dividend of 65 kobo per ordinary share and a special dividend of 55 kobo per ordinary share be paid on July 1 2021 to all shareholders registered in the books of the Company at the close of business on June 14 2021.’’

Other decisions reached at the recently concluded AGM of the company are;

  • Two (2) retiring Directors were re-elected into the Board of the company.
  • Five (5) representatives were elected into the Statutory Audit Committee of the company.
  • The remuneration of the Non-Executive Directors of the Company were fixed at N106.6 million

What you should know:

  • UAC of Nigeria Plc had earlier reported a profit after tax of N3.86 billion in FY 2020, indicating a decline of 27.8% when compared with the amount declared in similar period of 2019.

For view resolutions reached at the recently concluded AGM, click HERE.

SEPLAT to Host Capital Markets Event at the London Stock Exchange

Chidi Emenike Leave a comment

Seplat Energy Plc, a leading Nigerian energy company dual-listed on The Nigerian Exchange and London Stock Exchange, will host a capital markets event at the London Stock Exchange in London for analysts and investors on Thursday 29th of July at 15:00 London Time.

According to a notice made available on the website of the Nigerian Exchange Group Limited (NGX), the session will focus on providing an update on corporate strategy and opportunities needed to drive Nigeria’s energy transition. The session will be facilitated by representatives of the company.

The firm further announced that spaces will be limited, but the event will be broadcast online and through dial-in facility. Prospective participants, who wish to attend the event in person at the London Stock Exchange, are urged to register their interests on or before 14th of July 2021, by emailing: [email protected]. Places will be confirmed by Monday 19th of July, 2021.

Conversely, interested participants who wish to explore the event online are urged to pre-register using the SparkLive webcast sign-up link: https://www.lsegissuerservices.com/spark/SeplatPetroleumDevelopmentCo/events/dd5b2821-f781-4ab3-b4db-3ef843f98cb0

What you should know:

  • Recall that in a bid to transition into a full-fledged energy solutions company, the Board of Seplat recently announced a change in the company’s name, from Seplat Petroleum Development Company Plc to Seplat Energy Plc.

 

 

Beta Glass Plc set to disburse dividend worth N519.97 million to shareholders.

Chidi Emenike Leave a comment

The Board of Beta Glass Plc has approved the payment of a sum of N519.97 million as dividend to be paid to shareholders for the period ended 31st of December 2020.

The decision is part of the resolutions reached at the recently concluded 47th Annual General Meeting (AGM) of the company, held on the 1st of July, 2021 at Eko Hotels and Suites, Lagos.

Affirming this, a notice signed by the company’s secretary, Bola Adebisi read: ‘’IT WAS RESOLVED that a gross dividend of N1.04k per ordinary share of 50k be and is hereby declared out of the profits for the year ended December 31,2020 to all shareholders registered in the Company’s Books as at the close of business on June 10,2021.’’

Sequel to the approval, Beta Glass Plc will pay out a dividend of N1.04 for each of the outstanding 499,972,000 ordinary shares of the company, held by its shareholders, translating to a gross dividend value of N519, 970,880.

Other decisions reached at the firm’s AGM are;

  • The re-election of Mr. Haralambos David and Ms. Olufunmilola Adefope as Directors of the company were approved.
  • Five persons were elected into the Audit as Shareholders’ and Directors’ representatives.
  • The sum of N1, 125,000 was fixed as annual fees payable to each director for the year.

What you should know:

  • Beta Glass Plc had earlier reported a profit after tax of N3.47 billion in FY 2020, indicating a decline of about 37.9% when compared with the figure declared in similar period last year.
  • Sequel to the approval of a gross dividend payment worth N519.97 million, the company in its FY 2020 report, stated that the sum of N2.95 billion will be transferred to its general reserve.

Nestle Nigeria Plc to pay N28.14billion dividend to shareholders

Chidi Emenike Leave a comment

The Board of Nestle Nigeria Plc has approved a final dividend payment of N28.14 billion representing N35.50 per share for the 2020 financial year at the 52nd Annual General Meeting of the company, held at Ilupeju, Lagos on 22nd of June, 2021.

This is according to a disclosure signed by the company’s secretary, B.B Ayeku, and made accessible on the website of the Nigerian Exchange Group Limited (NGX).

According to the notice, the approved sum is made up of N24.50k from the after tax profit for the year ended December 31, 2020, in addition to N5.00 and N6.00 from the after tax retained earnings for the years ended December 31, 2019 and 2018 respectively.

It is pertinent to note that the approved dividend which is subject to appropriate withholding tax will be paid out to all the shareholders, whose names appear on the Register of Members as at the close of business on 21st of May, 2021.

Recall that the firm had earlier announced an interim dividend of N25 per share, totalling N19, 816,406,300. In light of this, the firm has so far declared a total dividend worth N60.50 per share for the FY 2020 period, translating to a dividend pay-out of N47, 955,703,246.00 in total.

What you should know:

  • Nestle Nigeria Plc had earlier reported a profit after tax of N39.2 billion in FY 2020. Its earnings per share printed N49.47 during the aforementioned period.
  • Last month, the firm released the names of 17,187 shareholders who are yet to file and claim their dividends.
  • Nestle Nigeria Plc closed trading for the week ended 2nd of July 2021, with a share price of N1,540 and a market capitalization of N1.22 trillion.

 

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

Chidi Emenike Leave a comment

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.