BOC Gases Nigeria Plc rebrands, changes name to Industrial and Medical Gases Nigeria Plc.

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BOC Gases Nigeria Plc has announced a rebrand and change of its name to Industrial and Medical Gases Nigeria Plc. This follows the acquisition of a majority stake in the company by TY Holdings Limited, a company linked to former minister of defence and retired military general, Mr Theophilus Yakubu Danjuma.

Recall that TY Holdings Limited had recently acquired additional 249,746,823 ordinary shares of BOC Gases Nigeria Plc, translating to about 60% of the latter’s total shareholding. The deal is in addition to an already existing 12% stake already held by the former, thereby raising its total stake in BOC Gases Nigeria Plc to 72%. Prior to the deal, the majority stakes of BOC Gases Nigeria Plc were held by BOC Holdings UK (a member of the Linde Group).

Sequel to the conclusion of the deal, a change in the ownership structure of BOC Gases Nigeria Plc was approved to reflect the new reality. This resulted in the change of the Company’s logo and trademark. Consequently, the company obtained a new certificate of incorporation from the Corporate Affairs Commission.

The recent development was confirmed through a statement signed by the Managing Director of the Company, Ayodeji Oseni, and filed with the Nigerian Exchange Limited (NGX). The statement read: ‘’This is to notify Nigerian Exchange Limited, our shareholders and the investing public that BOC Gases Nigeria Plc (the Company) has changed its name to INDUSTRIAL AND MEDICAL GASES NIGERIA PLC.

‘’The change of name is sequel to the purchase of 60% of BOC Gases Nigeria Plc, which was formerly controlled by BOC Holdings UK (a member of the Linde Group) by TY Holdings Limited. This has also resulted in the change of the Company’s logo and trademark.

‘’The Company has obtained a new certificate of incorporation from the Corporate Affairs Commission.’’

PZ Cussons Nigeria Plc grows profit after tax by 124% to N1.7 billion in FY 2020

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PZ Cussons Nigeria Plc released its consolidated financial statements for the year ended 31st of May, 2021.

  • Revenue for the period was N82.6 billion. (+23% YoY)
  • Cost of sales stood at N59.5 billion. (+2% YoY)
  • Administrative expenses totalled N6.5 billion. (+19.3% YoY)
  • An operating profit of N1.19 billion was generated.
  • Profit after tax was N1.7 billion. (+124% YoY)
  • Earnings per share of 37 kobo (+121% YoY).

See link to results.

2021 Q2 Results: Northern Nigeria Flour Mills Plc grows profit after tax by 17% to N90.9 million.

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Northern Nigeria Flour Mills Plc released its unaudited financial results for the second quarter of the year (Q2, 2021) ended September 30, 2021.

  • Revenue for the period was N4.45 billion. (+82.3% YoY)
  • Cost of sales stood at N4.13 billion. (+87.6% YoY)
  • Administrative expenses totalled N182.3 million. (+82.6% YoY)
  • An operating profit of N120.13 million was generated.
  • Profit after tax was N90.9 million. (+16.8% YoY)
  • Earnings per share of 51 kobo Vs 44 kobo YoY.

See link to results.

Transcorp Hotels Plc: Notice of Board Meeting

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Transcorp Hotels Plc has notified its shareholders, the investing public and other relevant stakeholders that it will be hosting its 81st Board of Directors Meeting on Thursday, November 4, 2021.

This is according to a notice signed by the company’s secretary, Kofo Olokun-Olawoyin, 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 third quarter of the year (Q3, 2021) ended 30th of September, 2021.

In addition, the company revealed that the Q3 2021 unaudited financial statements of the company will be filed on or before 30th of October, 2021.

It is pertinent to note that in line with the post-listing requirements of the NGX, the company has already commenced a closed period from October 1, 2021. The closed period will persist 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.

 

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

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Ecobank Transnational Incorporated (ETI) has announced that its board of directors will meet on 2nd of December, 2021 to consider and approve the unaudited financial results of the Bank for the third quarter of the year (Q3) ended September 30, 2021.

Consequently, the firm also announced that it has commenced a closed period in the trading of its shares from October 1, 2021. The closed period will persist until 24 hours after the firm’s unaudited financial statements have been filed with the Nigerian Exchange Group Limited (NGX) and made public.

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

It is imperative 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.

 

LivingTrust Mortgage Bank Announces Resignation of Executive Director.

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The Board of LivingTrust Mortgage Bank Plc., has announced the voluntary resignation of their Executive Director in charge of operations, technology and satellite business, Mr. Oyewole Olowu.

According to a statement signed by the Bank’s Secretary, Timothy Gbadeyan, and filed with the Nigerian Exchange Limited (NGX), the aforementioned director resigned in order to pursue other personal interests. Consequently, the Board accepted and approved his resignation during its recent Board meeting which held on 15th of October, 2021.

The recent disclosure issued by the Bank read: ‘’This is to notify the Nigerian Exchange Limited (The Exchange) and members of the public, particularly the shareholders of LivingTrust Mortgage Bank Plc (the Bank) that one of the Executive Directors of the Bank, Mr. Oyewole Olowu, has voluntarily resigned his position

‘’Until his resignation, Mr. Olowu was the Executive Director in charge of Operations, Technology and Satellite Business. He resigned in order to pursue other personal interests. The resignation of Mr. Olowu was accepted by the Board of Directors of the Company at its meeting of Friday 15th of October, 2021.’’

About Mr. Oyewole Olowu

Oyewole Olowu is a versatile Mortgage banker with over 15 years of experience in Banking Operations, e-banking, Credit, Business Development and Retail banking. His experience cuts across both the public sector and the banking industry. Prior to joining LivingTrust Mortgage Bank, he had gained valuable work experience from Resort Savings and Loans Plc, Lagoon Homes Savings and Loans Limited and the Federal Ministry of Science & Technology, among others.

He is a graduate of Accounting from the Lagos State University. He also holds an MBA (Finance) and is an Honorary Fellow of the Institute of Corporate Administration (FCAI)

UPDC Plc reports a loss of N1.18 billion in 9M 2021.

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UPDC Plc released its unaudited financial results for the nine months period ended 30th of September, 2021.

  • Revenue for the period was N614.74 million. (+34.1% YoY)
  • Cost of sales stood at N529.4 million. (+111.3% YoY)
  • Administrative expenses totalled N565.3 million. (-6.3% YoY)
  • An operating loss of N512.04 million was incurred during the period.
  • Total assets stood at N21.15 billion during the period under review.
  • Loss for the period was N1.18 billion
  • Loss per share of -6 kobo Vs -34 kobo YoY.

See link to results.

Capital Hotels Plc announces board meeting, closed period ahead of Q3 2021 results.

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Capital Hotels Plc has announced that it will be hosting a Board of Directors Meeting on Tuesday, 26th of October, 2021. The meeting is principally to consider and approve the company’s unaudited financial statements for the third quarter ended 30th of September, 2021.

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

Consequently, in line with the provisions of rule 17.18(a): the Closed Period Rulebook of the Exchange, 2015 (Issuers’ Rule) as amended, the company announced that it had already commenced a closed period for trading in its shares on Friday, 1st of October, 2021. The closed period will persist until 24 hours after the unaudited account of the company for the aforementioned period have been filed with The Exchange (NGX) and made public.

It is imperative to note that during the closed period, directors, managers, consultants, employees of the company and their associated persons are strictly prohibited from transacting in the company’s shares (that is, buying or selling in the company’s shares).

For more information about the disclosure, click HERE.

 

Eunisell Interlinked Plc grows profit after tax by 498% to N21.19 million in Q1 2021.

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Eunisell Interlinked Plc. released its unaudited financial statements for the first quarter of the year (Q1, 2021) ended 30th of September, 2021.

  • Revenue for the period was N89.15 million. (+525% YoY)
  • Cost of sales was N37.1 million. (+1, 071% YoY)
  • Operating expenses totalled N17.05 million. (+61% YoY)
  • Total assets for the period stood at N655.2 million.
  • Profit for the period was N21.19 million. (+498% YoY)

See link to results.

Fidelity Bank announces plan to launch 5-Year Unsecured Notes worth $500 million.

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Fidelity Bank Plc is considering raising about $500 million from the international debt capital market, through the issuance of 5-Year unsecured notes, in a bid to support its trade finance business and meet up with its general and working capital requirements.

This is according to a statement signed by the Bank’s Secretary, Ezinwa Unuigboje, and filed with the Nigerian Exchange Limited (NGX).

According to the disclosure, the bank intends to list the Notes on the Irish Stock Exchange, with the expectation that the Notes will be traded on its regulated market. In view of this, the Securities and Exchange Commission has confirmed that it will not object the transaction.

To facilitate the transaction, the bank announced that it will be hosting a series of investors’ meeting which is billed to commence from October 18, 2021. The bank also added that the final decision on whether to proceed with the transaction or not, will be subject to finalising the necessary transaction documentation and prevailing market conditions.

Commenting on the recent development, the recent press release issued by the firm  read: ‘’Fidelity Bank Plc (the ‘’Bank’’) is considering raising capital from the international debt capital market through an unsecured notes issuance, proceeds of which are intended to be used for general corporate purposes including supporting its trade finance business (the ‘’Transaction’’).

The proposed aggregate offer size is U.S.$500,000,000 (Five Hundred Million United States Dollar), due 2026, which will when issued rank parri passu, without preference among themselves, with all other unsecured and unsubordinated obligations of the Bank (the ‘’Notes’’). The Company intends to list the Notes on the Irish Stock Exchange, with the expectation that the Notes will be traded on its regulated market. The Securities and Exchange Commission has confirmed that it has no objection to the Transaction.

In view of the foregoing, the Bank is pleased to notify the Nigerian Exchange Limited of Planned investor meetings with respect to the Transaction scheduled to commence today October 18, 2021.’’

Recall that similarly, Access Bank had recently concluded the issuance of a 5-Year senior unsecured note worth $500 million.