United Capital Plc – NAIRAMETRICS| COMPANY EARNINGS

United Capital Plc announces the Launch of N150 billion Infrastructure Fund

26 October 202126 October 2021 Chidinma Anyalewechi Leave a comment

United Capital Plc has announced the launch of a Naira-denominated fund, the United Capital Infrastructure Fund (UCIF), with a N150 billion issuance program, established to provide long-term financing for the delivery of critical infrastructure.

The United Capital Infrastructure fund is anticipated to bridge the infrastructure deficits in Nigeria and sub-Saharan Africa.

While the sponsor of the fund is United Capital Plc, the fund is being managed by United Capital Asset Management Limited (UCAML).

What this means

According to the disclosure signed by the company’s secretary, Leo Okafor and published on the NGX website, the fund has been registered by the Securities and Exchange Commission (SEC), as a close-ended fund, with a N150 bilion issuance program.

The idea behind the fund is to finance bankable infrastructure assets across different and diverse sectors such as power and renewable energy, transportation, agribusiness and industrial infrastructure, healthcare, technology, mass housing, urban and social infrastructure.

In addition, Africa Finance Corporation has been retained by the Fund as the independent Financial Advisor, to provide additional layers of best practice of corporate governance in enhancing the project appraisal and due diligence activities of the Fund Management team.

The Managing Director of United Capital Asset Management Limited has explained that as part of the preparatory activities, numerous infrastructure projects were appraised and the Fund management team is currently at the advanced stage of conducting due diligence on a deal pipeline valued at N54 billion which includes several projects.

Speaking at the launch of United Capital Infrastructure Fund, Mr. Peter Ashade, the Group Chief Executive Officer of United Capital Plc commented that “the journey to launch the Fund has taken almost two years, during which period extensive preparatory studies and appraisals were carried out to establish the business case for the Fund, as well as to define a model and governance framework that would provide investors that have an appetite for long-term financing products (such as pension funds and insurance companies), with sufficient confidence of the attractiveness of UCIF, as an investment opportunity”.

2021 9M Results: United Capital Plc grows profit after tax by 72% to N5.97 billion.

15 October 202115 October 2021 Chidi Emenike Leave a comment

United Capital Plc release its unaudited financial statements for the nine months period ended 30th of September, 2021.

Gross earnings for the period totalled N11.33 billion. (+60.3% YoY)
Fee and commission income of N4.77 billion. (+112.1% YoY)
Net operating income was N11.08 billion. (+63.9% YoY)
Total expenses were N4.24 billion. (+43.8% YoY)
Total assets for the period stood at N400.75 billion.
Profit for the period was N5.97 billion. (+72.2% YoY)
Earnings per share of 133 kobo Vs 77 kobo YoY.
Total shareholders’ fund for the period stood at N26.9 billion.
Cost to Income Ratio of 37.4% Vs 41.67% YoY

Commenting on the results, the Group CEO of United Capital Plc, Mr Peter Ashade said: ”I am pleased to inform our stakeholders that United Capital ended the third quarter of the year with another outstanding performance. We delivered an increased revenue of 60% year-on-year, PBT growth of 72% year-on-year to N7.09b and total asset growth of 80% year-to-date.

”During the period under review, United Capital successfully listed three series commercial papers worth N19.72 billion on the FMDQ Securities Exchange. The CPs were issued under the company’s N50 billion commercial paper issuance program. This has further positioned us as a company to provide a wider range of wholesale financing solutions to our clients and complement funding base and support for all our businesses.

”Another remarkable point to note was the Nigerian Stock Exchange’s reclassification of United Capital shares from Low Price Stock Group to Medium Price Stock Group in August 2021 driven by steady growth in the company’s share price over the past months due to our consistent impressive performance over the years.

”I want to assure our stakeholders that we are optimistic on sustaining this exciting performance in the last quarter of the year and beyond. We remain focused on our transformation agenda and to continue to provide best-in-class solutions to all client segments. We are also committed to deliver superior returns as we seek to always delight our shareholders.”

See link to results.

United Capital appoints Tokunbo Ajayi as Non-Executive Director.

10 September 202110 September 2021 Chidi Emenike Leave a comment

The Board of United Capital Plc (UCAP) has today announced the appointment of Ms Tokunbo Ajayi to the Board, as a Non-Executive Director, effective immediately.

This is according to a notice signed by the company’s secretary, Leo Okafor, and made available on the website of the Nigerian Exchange Limited (NGX).

Until her recent appointment, Ms Ajayi was the MD/CEO of United Capital Trustees Limited.

About Ms Tokunbo Ajayi

Tokunbo Ajayi is a financial industry expert with over three decades of experience specifically in the trusteeship space. She qualified as a Barrister and Solicitor of the Supreme Court of Nigeria in 1986 and obtained a Bachelor of Law degree from the University of Ife (now Obafemi Awolowo University), Ile Ife in 1985. She is also an Alumna of Philips Consulting, South Africa Senior Management Programme, and the Columbia Business High School High Impact Leadership Programme.

Ms. Ajayi is a member of various prestigious bodies, including; The Nigerian Bar Association, International Federation of Women Lawyers (FIDA) Nigeria, the Business Recovery & Insolvency Practitioners Association of Nigeria (BRIPAN), Institute of Directors (IoD) Nigeria, and the Nigerian Institute of Management and British Council.

In 2014, she was awarded the Business Excellence Award by the African Business Forum in the United Kingdom as well as the African Entrepreneurship Award in 2018 by the Voice Achievers Awards in the Netherlands.

United Capital Plc is a leading financial services group in Africa focused on leveraging technology to empower businesses, individuals, and governments. It offers wide range of financial services like Investment Banking, Asset Management, Trusteeship, Securities Trading, Wealth Management, and Consumer Finance.

Vine Foods Limited purchases additional 1m units of United Capital shares worth N7.23m.

3 September 20213 September 2021 Chidi Emenike Leave a comment

Vine Foods Limited, a company to linked to a Non-Executive Director in United Capital Plc, Mr Emmanuel Nnorom, has purchased an additional 1 million units of the latter’s shares, worth N7.23 million.

This is according to a notification signed by the firm’s secretary, Leo Okafor and sent to the Nigerian Exchange Limited (NGX), as seen by Nairametrics.

The notice revealed that the transaction took place on the 2nd of September, 2021, as the firm purchased an additional 1 million units of United Capital shares at a unit price of N7.23 per share, totalling N7, 230,000.

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.

United Capital Plc closed trading for the week ended 3rd of September, 2021 at N7.34 per share on the floor of the Nigerian Exchange Limited (NGX).

See link to disclosure.

United Capital expands CP issuance programme to N50 billion, raises N19.7 billion.

20 August 202120 August 2021 Chidi Emenike Leave a comment

United Capital Plc has obtained regulatory approval from FMDQ Securities Exchange Limited to increase the size of its existing N20 billion commercial paper (CP) issuance programme to N50 billion.

According to a notice signed by the company’s secretary, Leo Okafor and filed with the Nigerian Exchange Limited (NGX), the validity period of the CP programme was also extended to 18th of October, 2022.

On the other hand, the firm also disclosed that it raised a total sum of N19.7 billion through its recently concluded Series 5, 6 and 7 issues. The 180-day and 270- day issuances were completed at between 11.9% and 13%, with firm commitments from a pool of institutional investors, including asset managers and pension funds. It is pertinent to note that FSDH Capital Limited, United Capital Plc, and UCML Capital Limited acted as Arrangers to the transaction, while Olaniwun Ajayi LP acted as Transaction Counsel.

What you should know:

United Capital Plc is a leading financial services group offering diverse services such as; Investment Banking, Asset Management, Trusteeship, Securities Trading, Wealth Management and Consumer Finance.
The firm closed trading for the week ended 20th of August, 2021 with a share price of N6.89.