BUA Cement Plc announces Board Meeting

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BUA Cement Plc has notified stakeholders and the investing public of its imminent Board of Directors meeting, scheduled on April 28, 2021.

This is according to a disclosure signed by the Company’s secretary, Ahmed Aliyu and sent to the Nigerian Stock Exchange.

The meeting is scheduled to consider the unaudited financial statements of the company for the quarter ended 31st of March, 2021 (Q1, 2021) along with other corporate actions. In line with this, the company will be observing a closed period from 7th of April, 2021 until 24 hours after the unaudited financial statements have been filled with The Exchange.

What you should know:

  • During the close period, no insider of BUA Cement Plc will be able to deal with its shares, whether directly or indirectly.
  • BUA Cement Plc had earlier reported a Profit before tax of N72.3 billion in FY 2020.

For more information about the notice, click HERE.

Infinity Trust Mortgage Bank Plc records a 60% increase in profit after tax in Q1 2021.

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Infinity Trust Mortgage Bank Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Turnover for the period was N382.97 million. (+21.1% YoY)
  • Net fee and commission income of N25.8 million. (+19.1% YoY)
  • Total operating income of N338.1 million. (+28.4% YoY)
  • Total operating expenses of N178.93 million. (+8.31% YoY)
  • Profit after tax was N145.27 million. (+60% YoY)
  • Earnings per share of 13 kobo vs 8 kobo YoY.

See link to results.

Tantalizers Plc reports a loss after tax of N422.05 million in FY 2020. 

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Tantalizer Plc has announced its full-year results for the year ended 31st December 2020.

  • Revenue for the year was N924.13 million. (-27% YoY)
  • Cost of sales was N529.98 million. (-27.4% YoY)
  • Administrative expenses totaled N917.52 million. (-2.5% YoY)
  • An operating loss of N341.6 million was incurred.
  • Loss after tax of N422.05 million.
  • Loss per share of 13 kobo.

See link to results.

NASD Plc announces admission of newly demutualized NGX shares.

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NASD Plc has announced the successful admission of the securities of the Nigerian Exchange Group Plc (NGX) for trading on its platform.

This is according to a verified Tweet by NASD Plc, seen by Nairametrics.

The admission is a sequel to the successful demutualization of the defunct Nigerian Stock Exchange (NSE) which gave birth to a new group- The Nigerian Exchange Group Plc (NGX) and three other subsidiaries.

Consequently, NGX shares will be available to be traded by participating institutions or authorized traders registered on the NASD platform from the 13th of April, 2021.

What you should know:

  • Recall that Nairametrics had earlier reported the final completion of the demutualization exercise of NSE after it secured regulatory approvals from SEC and CAC.
  • As part of its transition plan, the creation of a new website, board and other relevant components were ratified and implemented.
  • The newly admitted NGX security is registered on the NASD Plc platform with the ticker SDNGX.

The recent admission is the first recorded cross-listing for securities exchange in Nigeria.

Lotus Halal Fixed Income announces dividend of N20 per unit for Q1 2021.

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Lotus Capital Limited has declared its Q1, 2021 dividend distribution of N20/unit to unit holders in the Lotus Halal Fixed Income Fund whose names appear on the company’s register as at April 13, 2021.

According to a notification issued by the firm and seen by Nairametrics, the payment of the distribution will be made by the fund manager of the Lotus Halal Fixed Income on April 15, 2021.

It is pertinent to note that the firm had earlier paid its fixed income fund unit holders a dividend of N33 per unit for Q4, 2020 on 22nd of January, 2021.  Sequel to this, the recent declaration of N20/ unit indicates a decline of about 39.4% QoQ.

What you should know:

  • Lotus Capital is a full-fledged halal investment management company, specializing in Shari’ah compliant asset management, private wealth management and financial advisory services.

For more information about the disclosure, click HERE

Friesland Campina Wamco Nigeria Plc announces AGM, proposes dividend of N6.74 per share.

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The Board of Friesland Campina Wamco Nigeria Plc has announced that it will host its Annual General Meeting (AGM) on the 6th of May, 2021.

According to a notice made available on the website of NASD Plc, the AGM will take place at Sheraton Lagos Hotels, Ikeja-Lagos by 11:00 am.

The AGM will among other things deliberate on a proposed dividend of N6.74k per share offered to shareholders. Details about the proposed dividend are succinctly captured below;

  • Closure of Register: Friday, April 23, 2021 to Thursday, April 29, 2021 (both dates inclusive)
  • Qualification Date: Thursday, April 22, 2021
  • Proposed Dividend: ₦6.74K
  • Payment Date: Friday, May 7, 2021.

What you should know:

  • Friesland Campina Wamco Nigeria Plc had earlier announced a profit of N8.8 billion in its unaudited interim FY 2020 results.
  • The firm currently has a total of 976,336,000 units of tradable securities in issue and a market capitalization of approximately N124 billion.

For more information about the AGM, click HERE

ETI appoints Akin Dada as Group Executive, Corporate & Investment banking.

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Ecobank Transnational Incorporated (ETI), parent company of Ecobank Group has announced the appointment of Akin Dada as Group Executive, Corporate and Investment Banking.

This is according to a press release made available on the Group’s website and seen by Nairametrics.

With the recent appointment, Mr Akin is set to take the helm of affairs from Amin Manekia (his predecessor) who retired in 2020.

Profile:

Akin is a banking expert with over three decades of experience in client coverage, strategic transaction initiation, and advisory dialogues. He joined Ecobank in 2017 as the Executive Director for Corporate Bank in Nigeria, after a long spell with Citigroup Cameroon where he spent twenty six years.

It is also pertinent to note that until his recent appointment, he was the Group Head, Corporate Banking for the Ecobank Group. He is an alumnus of the University of Ibadan and University of Warwick, UK where he obtained a B.Sc. degree in Political Science and an MBA respectively.

What they are saying: Commenting on his appointment, the CEO of Ecobank Group, Ade Adeyemi said: ‘’Akin’s valuable and varied experience over many years in corporate banking as well as his broader knowledge of banking, credit and risk management position him appropriately to lead our Corporate and Investment Bank. There are huge opportunities for the Ecobank Group with the implementation of the AfCFTA, which heralds burgeoning demand for trade finance, advisory services and cross-border payments.”

Details about the appointment is available HERE

Union Homes REIT proposes final dividend worth N465.03 million for shareholders.

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The Board of Directors of Union Homes Real Estate Investment Trust Plc has proposed a final distribution of N1.86 for every  unit held, amounting to a total of N465.03 million for the year ended 2020.

This is according to a disclosure made available on the website of the Nigerian Stock Exchange (NSE), as seen by Nairametrics.

According to the notice, the proposed dividend will be paid electronically to qualified unit holders on the 4th of May, 2021. Qualified shareholders are those, whose names appear in the Register of member as at the close of business on 14th of April, 2021. Other qualifying conditions are;

  • Unit holders must have completed the e-distribution registration.
  • Unit holders must have mandated the Registrar (Greenwich Registrars and Data Solutions Limited) to pay their distribution directly into their bank accounts.

On the other hand, the firm disclosed that there is no proposed bonus for the aforementioned period.

What you should know:

  • Union Homes Real Estate Investment Trust (REIT) is an actively-managed, close-ended Unit Trust Scheme geared towards achieving long-term capital appreciation through real estate investments such as rental properties, mortgage assets etc..
  • The firm had earlier posted a profit after tax of N389.7 million in FY 2020.
  • The qualification date is 14th of April, hence Register of unit holders will be closed from 15th to 16th of April, 2021.

 

For more information about the disclosure, click HERE

GT Bank Plc holds FY 2020 investors presentation.

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Guaranty Trust Bank Plc held its FY 2020 results presentation to investors and analysts. Below are the facts to the figures;

  • The bank recorded a customer base of over 21.9 million as at the end of FY 2020.
  • A total of 24,115 active POS terminals, 1,366 ATMs, 575 million unique transactions, and 5.43 million active cards were recorded during the period under review.
  • Operating expenses totalled N131 billion (+12.6% YoY). The increase was largely driven by surge in regulatory charges, administrative charges and depreciation expenses, among others.
  • A breakdown of its gross loans by industry showed that Upstream Oil and Gas, Manufacturing and Midstream oil and gas emerged in the top three with an allocation of 29%, 19% and 14% respectively. On the other hand, Education, Agriculture and Downstream Oil and Gas appeared in the bottom three with an allocation of 1% to the aforementioned sectors.
  • The bank maintained a strong liquidity position with a ratio of 38.9% as at FY 2020. A figure well above the regulatory minimum of 30%.
  • Cost to Income ratio of 36.11% Vs 38.2% YoY.
  • In terms of diversity, out of its 6,637 employees, 54.6% are male while 45.4% are female.

For more information about the investors’ presentation, click HERE.

Cornerstone Insurance Plc notifies stakeholders of late submission of financial statements.

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The Management of Cornerstone Insurance Plc has notified stakeholders of its inability to meet up with the time frame earmarked for the submission of its Audited Financial Statements for the year ended December 31, 2020, as well as the Unaudited Financial Statements for the period ending March 31, 2021.

This is according to information available on the website of the Nigerian Stock Exchange, as seen by Nairametrics.

The company attributed the failure to file its audited accounts by the due date of 31st March, 2021 to the delay encountered in completing the actuarial valuation audit review. It also explained that due to this failure, it won’t be able to proceed with the submission of its unaudited financial statements for Q1 2021 within the regulatory date of 30th of April, 2021.

Sequel to this, the firm assured that its audited financial statements will be submitted to The Exchange subject to the finalization of its audit review and approval by its primary regulator- NAICOM.

For more information about the disclosure, click HERE.