CORPORATE NEWS: GUINNESS; SEC; STOCK EXCHANGE

GUINNESS NIGERIA APPOINTS EDOZIEN DIRECTOR

Guinness Nigeria PLC has announced the appointment of Ms Ngozi Oluwatoyin Edozien as a non- executive director.
She replaces Ms Yvonne Ike who resigned from the board of directors recently.
Ms Edozien is an alumni of Harvard Business university. She started her working career in 1985 with Solomon Brothers and J P Morgan then joined McKinsey & Company.
In recent past she served as CEO of various companies including Pfizer Nigeria and Actis Capital. She has also served on the board of Diamond bank and African Investor.
Currently, she is also on the board of Mouka Foam, Stanbic IBTC , UAC, PZ Cussons and Payatech ltd.
She is also director of African Leadership Network and member of Delta State vision 2020.

SEC ADVISES INVESTORS ON e-DIVIDEND

The Nigerian Securities and Exchange Commission (SEC) has advised investors to approach their banks or registrars to complete their e-dividend payment mandate.
For ninety (90) days from November 23, mandate processing will be free but after the period, the sum of one hundred naira will be paid.
The filling and processing of the mandate is to enable the investors mandate to be uploaded into the e-dividend  mandate management system set up to ease the payment of dividends.
Meanwhile, SEC continues with the execution of the 10 year master plan for the capital market for more depth and better service delivery by all market operators.

POST TRADE ALLOCATION AT NSE

The Nigerian Stock Exchange and  Central Securities Clearing System (CSCS) have concluded collaboration make room for allocation of purchased shares to clients with more than one account after trading.
According to the operations manager of the Exchange, Mr Ken Nwafor, the arrangement could create more liquidity in the market. Improve settlement and enable brokers to buy securities en bloc. 
The arrangement provides for allocation of pool account opened by custodians; remote trading access granted to single accounts; all of which will be based on clients mandates and authorisation to distribute.

Comments

Post a Comment

Popular posts from this blog

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

JAN 9, 2019: TREND CONTINUES AT GHANA STOCK EXCHANGE

On Wednesday, January 9 2019, the up one day, down next trend noticed at the Ghana Stock Exchange since this year continued with the Composite Index rising from 2581.46 to 2582.70. The trend had started with drop in GCI on first trading day January 2 and continued till Tuesday's marginal decline as only one equity recorded price change and downwards. The Wednesday rally was underpinned by 3 price gains and one drop. The leading gain was GHs 0.03 per share by Trust Bank ltd of Gambia as it also recorded top trade for the day. TBL's leading 119,200 shares were traded with last deal at GHs 0.26 per share compared to GHs 0.23 close on Tuesday. However, closing  bid was at GHs 0.20 per share thus hinting at possible further drop ahead although it will take a matching offer price to make this happen  The 2 other price gains were GHs 0.01 per share each. CAL Bank recorded deals for 8300 shares with the last deal and closing price at GHs 1 per share, compared to GHs 0.99 previously. Wh...
Read more