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Insider Dealing: Herbert Wigwe Purchases Additional Shares of 3.14m from Access Bank

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Herbert Wigwe

Herbert Wigwe, MD/CEO of Access Bank, Acquired 3.14m Shares from His Bank

Access Bank Plc on Thursday disclosed insider dealing in accordance with the new Nigerian Stock Exchange policy.

In a statement released on the Nigerian Stock Exchange website and signed by Company Secretary, Sunday Ekwochi, the lender said Mr. Herbert Wigwe, the Group Managing Director and Chief Executive Officer, Access Bank, purchased 3,094,853 shares at N6.81 per share and another 50,000 shares at N6.79 per share.

Aggregate information revealed the CEO bought 3,144,859 ordinary shares valued at N21,415,448.93 between June 15 and 16, 2020 from the Nigerian Stock Exchange in Lagos.

The purchase was done through Tengen Holdings (Mauritius) Ltd, the statement shows.

In a similar version, the United Capital Plc reports insider dealing. Mr Obaniyi Samuel Babatunde, the Managing Director, United Capital Investment Banking, purchased ordinary shares of 2,000,000 units at N2.65 per share on June 11, 2020.

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CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Insider Dealings: Nestle, McNichols Insider Trades Disclosed

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Nestle S.A once again increased its holding in Nestle Nigeria Plc, according to the latest filing with the Nigerian Stock Exchange (NSE).

The Swiss multinational food and drink processing conglomerate corporation that doubled as the largest shareholder of Nestle Nigeria Plc purchased an additional 253,965 shares of Nestle Nigeria in three transactions between November 30 and December 2, 2020.

On November 30, Nestle S.A purchased 10,000 shares at N1,390 per share. While on December 1 and 2, 2020 another 235,537 and 8,428 shares were acquired at N1,399.85 and N1,390 per share.

This brings the aggregate volume of purchase to 253,965 shares at an aggregate price of N1,393 per share.

Also, McNichols Consolidated Plc, another listed company on the Nigerian Stock Exchange, disclosed that Ekpe Chimaraoke Nwokoma, a substantial shareholder, purchased 109,500 shares at an average price of 51 kobo per share in two transactions.

On November 11, 2020, Nwokoma bought 9,500 shares at 51 kobo each and another 100,000 shares at 51 kobo on December 1, 2020.

The disclosure is in line with the new Nigeria’s Security Exchange Commission policy on transparency.

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VitaFoam to Approve Audited Financial Statement For September Period on December 15th, 2020

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The management of Vitafoam Nigeria Plc on Tuesday announced it will hold a meeting of the Board of Directors on December 15th, 2020 to consider and approve the Audited Financial Statements for the year ended 30, September 2020 and recommended dividend, if considered appropriate.

Vitafoam disclosed in a statement signed by Lekan Sanni, Company Secretary and issued on Thursday.

The company further stated that “in compliance with the listing rules of the Nigerian Stock Exchange, the closed period for trading in the company’s securities commenced from 1st December, 2020 until 24 hours after the announcement of the Audited Group Financial Statement for the year ended 30th September, 2020 to the Nigerian Stock Exchange.”

“Consequently, no Director, Employee, person discharging managerial responsibility, Advisers and Consultants of the Company and their connected persons may directly or indirectly deal in the shares of the company during the closed period.”

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Investors Dump N15 Billion on United Capital Series 3 Commercial Paper

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United Capital Plc has raised N15 billion through Series 3 Commercial Paper (CP) issued under a N20 billion programme registered with the FMDQ Securities Exchange.

The company announced this through a statement forwarded to the Nigerian Stock Exchange.

According to the statement, the Series 3 270-day issuance at a yield of 1.26 percent had 112 percent subscriptions from a pool of institutional investors, especially Asset Managers.

The statement reads in part, “this issuance sets another ground-breaking record in the Nigerian Capital Markets, being the lowest yield on record for a 270-day CP issuance by a nonbank issuer. FSDH Capital Limited, United Capital Plc, and UCML Capital Limited acted as Arrangers to the transaction.”

Speaking on the success of the commercial paper, Mr. Peter Ashade, the Chief Executive Officer, United Capital Plc, said “The commercial paper issuance is in line with our bid to diversify our funding sources, strengthen our capital base and intensify our strategic initiatives aimed at providing innovative financing solutions to our clients”.

“This issuance sets another ground-breaking record in the Nigerian Capital Markets, being the lowest yield on record for a 270-day CP issuance by a nonbank issuer. FSDH Capital Limited, United Capital Plc, and UCML Capital Limited acted as Arrangers to the transaction.”

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