Nestlé S.A invests additional N1.92 billion in shares of its Nigerian subsidiary.

Nestlé S.A, a leading multinational food and beverage company, has invested an additional N1.92 billion 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, and made available on the website of the Nigerian Exchange Limited (NGX).

According to the notice, Nestlé S.A acquired additional 1,369,938 units of Nestle Nigeria Plc shares at a price of N1, 399 per share. This puts the total consideration for the shares purchased by the parent company at N1, 916,543,262.

It is pertinent to note that the recent transaction which took place on the floor of the Nigerian Exchange Limited (NGX), was effected in three tranches between 13th and 15th of September, 2021.

Breakdown of the deal

  • In the first tranche which took place on the 13th of September 2021, the parent company purchased additional 863,914 units of its Nigerian subsidiary shares at N1,400 per share, totalling N1,209,479,600
  • Subsequently, the firm purchased an additional 12,107 units of the latter’s share at N1,397.78 per unit, worth N16,922,922.46
  • In the last tranche which took place on 15th of September 2021, the firm purchased a further 493,917 units of shares at N1,400, totalling N691,483,800
  • In light of this, a total of 1,369,938 units of Nestle Nigeria’s share were purchased at an average price of N1, 399, totalling N1, 917,886,322.46.

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.  As at 30th of June 2021, Nestle S.A, Switzerland owns about 533,270,982 units of ordinary shares in the Nigerian subsidiary, translating to about 67.28% of Nestle Nigeria Plc total shareholdings.
  • Nestle Nigeria Plc is currently trading N1, 410 per share on the floor of the Nigerian Exchange Limited (NGX).

 

Nestlé S.A invests additional N484.9 million in shares of its Nigerian subsidiary.

Nestlé S.A, a renowned Swiss multinational food and beverage company, has invested an additional N484.9 million in shares of its Nigerian Subsidiary (Nestlé Nigeria Plc).

This is according to a notification signed by the Company’s Secretary, Bode Ayeku, and made available on the website of the Nigerian Exchange Limited (NGX).

According to the notice, Nestlé S.A acquired additional 346,334 units of Nestle Nigeria Plc shares at a price of N1, 400 per share. This puts the total consideration for the shares purchased by the parent company at N484, 867,600.

Additionally, it is imperative to note that the recent transaction which took place on the floor of the Nigerian Exchange Limited, were effected in two tranches on the following dates; 20th and 23rd of August, 2021.

Breakdown of the deal

  • In the first tranche which took place on the 20th of August 2021, the parent company purchased additional 48,795 units of its Nigerian subsidiary shares at N1, 400 per share, totalling N68, 313,000.
  • In the second and  last tranche which took place on 23rd of August 2021, the firm purchased a further 297,539 units of shares at N1, 399.86, totalling N416,512,944.54
  • In light of this, a total of 346,334 units of Nestle Nigeria’s share were purchased at an average price of N1, 400, totalling N484.9 million.

This disclosure is a regulatory requirement that must be reported to the Nigerian Exchange Limited (NGX), especially when a major shareholder or director of a publicly quoted company purchases or sells shares in the company they own. The move will further cement the position of Nestlé S.A as the majority shareholder in its Nigerian subsidiary (Nestlé Nigeria Plc).

As at the period of reporting this, Nestle Nigeria Plc is currently trading at N1400 per share.

 

Nestlé S.A buys additional shares of Nestlé Nigeria worth N1.26 billion.

Nestlé S.A, Switzerland, the parent company of Nestlé Nigeria Plc, has increased its stake in the Nigerian subsidiary with the purchase of 900,887 additional units in the shares of the company.

This was disclosed by the company in a notification sent to the Nigerian Exchange Limited (NGX), which was seen by Nairametrics.

The purchase according to the notification signed by the Company’s Secretary, Bode Ayeku, was made on the bourse in two tranches on 18th and 19th of August, 2021. The breakdown of the transactions is succinctly captured below;

  • In the first tranche, Nestlé S.A purchased 842,439 units of its Nigerian subsidiary’s shares at a unit price of N1, 400, amounting to N1, 179,414,600.
  • In the second tranche, the firm purchased an additional 58,448 at the same unit price of N1, 400 per share, totaling N81, 827,200.

Cumulatively, the Swiss multinational firm purchased a total of 900,887 additional units of Nestlé Nigeria Plc shares at a unit price of N1, 400, amounting to N1, 261,241,800.

This disclosure is a regulatory requirement that must be reported to the Nigerian Exchange Limited (NGX), especially when a major shareholder or director of a publicly quoted company purchases or sells shares in the company they own.

What you should know:

  • The Parent company had earlier splashed a total of about N2.61 billion on the purchase of additional 1,870,348 units of its Nigerian subsidiary’s shares.
  • As at the period of filing this report, Nestlé Nigeria Plc currently trades at N1,400 per share.

 

 

Nestlé S.A acquires additional shares of its Nigerian subsidiary worth N2.61 billion.

Nestlé S.A, the parent company of Nigeria’s largest consumer goods company, Nestlé Nigeria, has increased its stake in its Nigerian subsidiary with the acquisition of shares worth N2.61 billion.

According to a recent notice filed with the Nigerian Exchange Limited, the Swiss multinational firm bought an additional 1,870,348 units of Nestle Nigeria shares at a price of N1, 393 per share. This puts the total purchase consideration for the shares of Nestlé Nigeria by the Swiss multinational at N2, 605, 394, 76.

The recent transaction occurred in two tranches between 16th and 17th of August, 2021. The breakdown of the transactions is as follow;

  • In the first tranche, Nestlé S.A purchased 339,471 units of the Nigerian subsidiary’s shares at a price of N1, 388.6476, amounting to N471, 405,589.4.
  • In the second and last tranche which occurred on the 17th of August, the Swiss multinational firm purchased a further 1,530,877 units of the latter’s shares at a price of N1,399.1446, totaling N2,141,918,287.8

Recall that the Multinational firm had earlier in this month purchased 125,513 units of its Nigerian subsidiary shares, worth N175.2 million. The recent transaction further raises the stake of the parent company in its Nigerian subsidiary and is a demonstration of strong confidence in the opportunities that abound in the local consumer goods sector.

What you should know:

  • As at 30th of June 2021, Nestlé S.A owns about 533,270,982 units of ordinary shares in Nestlé Nigeria Plc, translating to a majority shareholding of about 67.28%.
  • Nestlé Nigeria Plc is currently trading at N1,387 per share on the floor of the Nigerian Exchange Limited (NGX).

 

 

 

 

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

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.

 

 

Nestle Nigeria Plc posts N21.73 billion profit in half year 2021.

Nestle Nigeria Plc released its unaudited financial results for the period ended 30th of June, 2021.

  • Revenue for the period was N171.44 billion. (+21.6% YoY)
  • Cost of sales was N105.01 billion. (+30.9% YoY)
  • Administrative expenses totalled N6.6 billion. (+0.53% YoY)
  • Profit for the period was N21.73 billion. (-0.43% YoY)
  • Earnings per share of N27.42 Vs N27.53 YoY.
  • Total assets for the period stood at N262.8 billion

See link to results.

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

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.

 

Nestlé S.A buys additional shares of Nestlé Nigeria worth N175.65 million.

Nestlé S.A, Switzerland, the parent company of Nestlé Nigeria Plc, has increased its stake in the Nigerian subsidiary with the purchase of 125,463 additional units in the shares of the company.

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

The purchase which occurred in a single tranche, took place on the floor of the Nigerian Exchange Limited on 22nd of June, 2021. It is imperative to note that the 125,463 additional units of Nestlé Nigeria shares were purchased at an average price of N1, 400 per unit, totaling N175.65 million.

This recent transaction further strengthens the status of Nestlé S.A as the majority shareholder in its Nigeria subsidiary. Sequel to the recent transaction, the company has so far purchased a total of 269,910 additional shares worth N377.87 million in the last two days.

It is pertinent to note that the recent disclosure is in line with statutory requirements, aimed at entrenching transparency and boosting investors’ confidence in the market. Insider transactions are often a sign of how shareholders perceive a company’s valuation. It could also mean a possible capital raise or that the major shareholders are strengthening their existing holdings.

What you should know:

  • Nestlé S.A had earlier reported the purchase of additional 144,447 units of Nestlé Nigeria Plc shares at a price of N1, 399.99 per share, worth N202.2 million.

Nestlé S.A invests N202.2 million in shares of its Nigerian subsidiary.

Nestlé S.A, a leading multinational food and beverage company, has invested an additional N202.2 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 144,447 units of Nestle Nigeria Plc shares at a price of N1, 399.99 per share. This puts the total consideration for the shares purchased by the parent company at N202, 224,355.53

Meanwhile, it is worthy to note that the recent transaction took place on the floor of the Nigerian Exchange Limited on the 18th of June, 2021.

By implication, the 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).

For more information about the recent disclosure, click HERE.

Nestle Nigeria Plc announces 52nd Annual General Meeting. See how to participate

The Board of Nestle Nigeria Plc has announced that it will be hosting its 52nd Annual General Meeting today, 22nd of June, 2021.

This is according to a notification signed by the company’s secretary, Bode Ayeku, and seen by Nairametrics.

According to the notice, investors, shareholders and other relevant stakeholders who might not be able to attend the meeting due to restriction on mass gathering imposed by the government as a result of COVID-19, can opt to watch the live proceedings and participate using the link attached in the disclosure HERE.

As a rule of thumb, it is expected that several issues will be discussed in the AGM among which are;

  • The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
  • The firm’s proposed dividend will be considered and approved.
  • Board appointments will also be considered and ratified.
  • Remuneration of managers and Directors in FY 2021 will be considered.
  • Shareholders’ representatives of the statutory audit committee will be elected.

What you should know:

  • Nestle Nigeria Plc had earlier reported a profit after tax of N39.2 billion in FY 2020, as its earnings per share for the period printed at N49.47. Sequel to this, a dividend of N35.5 was proposed by the board.