Unity Bank Plc released its earnings forecasts for the third quarter of the year (Q3, 2021).
See link to results.
The shareholders of EkoCorp Plc, a Nigerian based medical provider, has approved the sale of 110 million units of its ordinary shares to Geoff Ohen Limited, in a deal worth N440 million.
This is sequel to an approval granted by majority of the shareholders during the firm’s recently concluded Extraordinary General Meeting held on 3rd of June, 2021 at Victoria Island, Lagos. Specifically, 79.34% of the total shareholders present during the meeting, voted in support of the decision.
Corroborating this, an extract from the recent press release issued by the company read thus: ‘’It was resolved by the shareholders that the sale of 110,000,000(One hundred and ten million) units of ordinary shares of EKOCORP PLC at N4 per share to Geoff Ohen Limited be approved by the shareholders with 79.34% majority vote.’’
The recent action will enable the firm deliver adequate healthcare and contribute to solving some of the challenges bedeviling healthcare delivery in Nigeria.
What you should know:
Airtel Africa Plc, a leading pan-African provider of telecommunications and mobile money services, has announced that an exchange rate of N410.95/$ will be applicable in the determination of its proposed final dividend of 2.5 cents
According to a disclosure signed by the Group Company Secretary, Simon O’Hara and published on the website of the Nigerian Exchange Group Plc (NGX Plc), the rates will be applicable to any shareholder that qualifies for and has elected to receive the dividend payment in Naira, Dollar or GBP.
Additionally, shareholders’ on the London Stock Exchange and the Nigerian Exchange Limited who wish to receive their entire dividend in the currencies of their choice (other than the default currencies) are strongly advised to participate in the currency election, by obtaining, filling and returning the currency election form to their respective company’s registrar domiciled in their countries. Investors are to check their respective stock markets for more information as regards timeframe and other modalities.
Exchange rate
The firm noted that the exchange rate for the Nigerian naira or GB Pounds amounts payable was determined by reference to the exchange rates applicable to the U.S dollar available on 9 June 2021.
For more information about the disclosure, click HERE
AIICO Insurance Plc released its earnings forecasts for the third quarter of the year (Q3, 2021).
See link to results.
Ecobank Transnational Incorporated (ETI) has formally launched its Tier 2 sustainability Notes, raising $350 million from the landmark issuance.
This is according to a press released signed by the firm’s Head of Corporate Communications, Adenike Laoye and seen by Nairametrics.
According to the notice, the recent deal is the first ever Tier 2 Sustainability Notes by a financial institution is Sub-Saharan Africa. The notes, which matures in June 2031, has a call option in June 2026 and was issued with a coupon rate of 8.75% with interest payable semi-annually in arrears.
The financial giants also disclosed that the Tier2 issuance is the first to have a Basel III- compliant 10NC5 structure outside of South Africa in 144A/RegS format. Sequel to this, the notes will be listed on the main market of the London Stock Exchange.
The bank also emphasized that investors’ interest in the notes were impressive, with major markets in the UK, USA, Europe, the Middle East, Asia and Africa, achieving a 3.6x oversubscribed order book, of over $1.3 billion at its peak.
Commenting on what the proceeds of the notes will be used for, the pan-African bank noted that it will be used to refinance new or existing eligible assets as described in ETI’s sustainable framework
Commenting on this deal, the Group Chief Executive Officer of ETI, Ade Ayeyemi, stated that: “This is a landmark issue for Ecobank, and indeed the success of this first Sustainable Tier 2 issuance is testament to our clear strategy, solid positioning across the pan-African banking space as well as our deliberate and long term focus on sustainable initiatives. We are particularly pleased with the diverse order book which reflects the confidence investors have in Ecobank to deliver on our commitment to sustainable financing.’’
What you should know:
The Board of Directors of Fidson Healthcare Plc has proposed a final dividend of 25 kobo for every share of 50 kobo held by shareholders, amounting to a total of N521.6 million for the year ended 2020.
This is according to a disclosure signed by the company’s secretary, J.A Adebanjo, and sent to the Nigerian Stock Exchange.
According to the notice, dividends will be paid electronically to qualified shareholders’ on 29th of July, 2021. The qualified shareholders are those, whose names appear in the Register of Members as at the close of trading on 7th of July, 2021. Other qualifying conditions are;
What you should know:
For more information about the proposed dividend, click HERE
Consolidated Hallmark Insurance Plc released its earnings forecasts for the third quarter of the year (Q3, 2021).
See link to results.
Rak Unity Petroleum Company Plc, a major distributor of petroleum products in Nigeria, has announced plans to wind up its business, subject to the approval of the members of the company in the imminent general meeting.
This decision was reached during the recently concluded Annual General Meeting of the company, held on the 4th of June, 2021 at Marina-Lagos.
An excerpts of the resolutions read: ‘’ THAT the Company be wound up voluntarily in accordance with the provisions of the Companies and Allied Matters Act 2020 subject to the approval of the members of the Company in the general meeting.’’
Additionally, in a bid to facilitate the winding up of the company, the shareholders resolved to appoint Mrs. Chinwe Chiwete of EPIC law firm as its liquidator. Confirming this, a part of the notice read thus: ‘’ THAT Mrs Chinwe Chiwete of the law firm of EPIC Legal of Block 74, Plot 22B, Emma Abimbola Cole, Lekki Phase 1, Lagos be appointed liquidator for the purposes of winding up of the Company, subject to the approval of the members of the Company in the general meeting.’’
It is pertinent to note that RAK Unity Petroleum was incorporated on 20th of December, 1982 as a limited liability company. It was listed on the second-tier of the Nigerian Stock Market (ASeM) on 21st of March, 1989.
Rak Unity Petroleum Plc is engaged in the sale and distribution of petroleum products. The Company is also engaged in the business of storage of oil, gas, kerosene, among others.
Sunu Assurances Nigeria Plc has released its earnings forecasts for the third quarter of the year (Q3, 2021).
See link to forecasts.
Jaiz Bank Plc has released its earnings forecasts for the third quarter of 2021 (Q3 2021).
See link to forecasts.