Tag: Nigerian Aviation Handling Company Plc

Nigerian Aviation Handling Company Plc (NAHCO Aviance)has notified the Nigerian Exchange Group Limited that Mr. Akinwumi Godson Fanimokun, a Non-Executive Director in the firm, has acquired 2,926,410 additional units of its shares, worth ₦7.94 million.

This was revealed by the company’s secretary, Bello Abdullahi, in two separate disclosures made available on the website of the Nigerian Exchange Limited (NGX).

Details: In the first notice, Mr. Fanimokun spent a total of N3, 539,096.80 to acquire additional 1,416,410 units of the firm’s shares. The deal took place on the floor of the NGX in Lagos, between 9th and 10th of August, 2021.

Similarly, the details contained in the second notice uploaded on the website of the NGX revealed that the aforementioned director purchased additional 1,510,000 units of the firm’s shares for a sum of N4, 402,500.91. The deal was executed on the 13th, 14th and 16th of September, 2021.

Cumulatively, a total sum of N7, 941,597.71 was spent by the director to purchase an additional 2,926,410 units of the firm’s shares.

It is imperative to note that the disclosure is in line with the statutory requirements specified by the Exchange and needed to entrench transparency and confidence in the system. Trade by insiders, particularly purchases, often demonstrates confidence in the financial performance of the companies that they run.

What you should know:

• As at June 2021, Mr. Akinwumi Godson Fanimokun holds about 2,000,000 units of NAHCO Aviance Plc shares, translating to about 0.123% of the total shareholding in the company. The recent addition thereby raises his total shareholdings to 4,926,410 units.
• NAHCO Aviance Plc’s share is currently trading at N3.12 on the floor of the Nigerian Exchange Limited (NGX).

Nigerian Aviation Handling Company Plc (NAHCO Aviance) has confirmed the appointment of Professor Enyinna Ugwuchi Okpara into its Board as a Non-Executive Director.

According to a press statement sent to the Nigerian Exchange Limited (NGX), Professor Okpara’s appointment was ratified by the members and shareholders of the company during its recently concluded 40th Annual General Meeting, held on 30th of July, 2021.

Corroborating this, an excerpts of the press release issued by the firm read thus: ‘’This is to inform our esteem shareholders, the general public and Nigerian Exchange Limited (the Exchange) that at the 40th Annual General Meeting of Nigerian Aviation Handling Company Plc (the Company) held on 30th July, 2021, the Company (Members/SharehoIders) ratified the appointment of Professor Enyinna Ugwuchi Okpara as a Non-Executive Director of the Company with effect from that date.’’

About Prof. Enyinna Okpara

Enyinna Okpara is a Professor of Accounting and Finance and an Associate of the Institute of Chartered Accountants of Nigeria (ICAN). He was born on 27th March 1960. He has the following academic qualifications: PhD (Accounting), M.Sc. (Accounting), MBA (Finance), B.Sc. (Accounting), PGD (Financial Management), HND (Accounting) and NCE (Business Education).

Professor Okpara is currently the Dean of College of Social and Management Sciences, Wellspring University, Benin City. He had previously worked as Accounts/Logistics Manager in Dangote Group. He is an experienced auditor and tax consultant having worked with Akintola Williams Deloitte. Professor Okpara served in the Nigerian Army as a commissioned officer rising to the rank of Captain before he voluntarily disengaged from active military service in 1999.

NAHCO Aviance is a diversified company with interests in aviation cargo, aircraft handling, passenger facilitation, crew transportation and aviation training. The firm recorded an impressive bottom line in the recently concluded half year period (HY, 2021), as its profit after tax surge by 453% to N504.9 million. Revenue grew by 32% to N4.71 billion and earnings per share (EPS) printed 30 kobo during the period under review.

As at the period of filing this report, NAHCO Aviance Plc is currently trading N3.04 per share on the floor of the Nigerian Exchange Limited (NGX).