Connect with us

Stock Market

eTranzact Joins Companies Struggling to Submit Financial Statements

Published

on

etranzact

eTranzact Begs For More Time to File Financial Statements

The Management of eTranzact International Plc on Monday said the financial technology company has been unable to submit its first half of the year financial results as required by all listed companies.

In the press statement signed by Chidinma Onwubere, Company Secretary, eTranzact, the fintech attributed its inability to file financial statements within the timeframe stipulated by the Security Exchange Commission (SEC) to a series of issues that stemmed from the need to gather sufficient information necessary to make some significant estimates.

The statement reads “The Board of Directors and Management of eTranzact International Plc hereby notifies the esteemed shareholders and other stakeholders that it has been unable to submit its 2020 half year/second quarter unaudited financial statements to the Nigeria Stock Exchange (NSE) and Securities & Exchange Commission (SEC) within the required timeframe.

“The development stemmed from the need of more time for those charged with
governance to gather sufficient underlying information in making some significant estimates which are significant and material to the unaudited financial statements for the period. In light of this, we expect to obtain more comfort based on the outcome of our engagement with specialists.

“We sincerely apologize for any inconvenience caused and we are committed to
ensure the submission of the unaudited financial Statements to The Exchange on or before 30th September, 2020.”

It would be recalled that PZ Cussons had requested for an additional time to file its second-quarter financial statements, saying the COVID-19 pandemic had disrupted its operations.

It stated, “We hereby inform The Nigerian Stock Exchange (‘The NSE) and the investing public that due to circumstances occasioned by the COVID-19 lockdown which although has gradually been eased, there were and still exist unforeseen circumstances that have made it impossible for the Company to comply with the timeline to file its Audited Financial Statements for the period ended May 31, 2020 by the due date of 29 August 2020.

Other listed organisations have also stated informing shareholders and stakeholders of their inability to meet the timeframe stipulated for listed firms to publish their financial results for the second quarter and the first half of the year.

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.

Stock Market

Insider Dealing: MD of Fidelity Bank Acquires 5 Million Shares of Fidelity

Published

on

Nneka Onyeali-Ikpe

Mrs. Nneka Onyeali-Ikpe, the Managing Director and Chief Executive Officer (CEO) Designate, Fidelity Bank Plc, purchased 5,000,000 shares of Fidelity Bank on Monday, November 30, 2020.

The management disclosed this in a statement forwarded to the Nigerian Stock Exchange (NSE).

Onyeali-Ikpe purchased the shares in five different transactions, according to the statement signed by Ezinwa Unuigboje, the Company Secretary, Fidelity Bank Plc.

It said 260,190 shares were acquired at N2.52 per share. While 400,000; 130,000; 2,870,000 and 1,339,810 shares were purchased at N2.55; N2.58; N2.60 and N2.56, respectively.

Aggregate information revealed the 5,000,000 shares were acquired at an average price of N2.56 per share. See the details below.

Continue Reading

Stock Market

Despite Opening in Red, The Nigerian Stock Exchange Closed in Green

Published

on

stock 1

The Nigerian Stock Exchange closed positive on Monday despite opening the day in the red.

The market capitalisation rebounded from the N51 billion decline recorded earlier in the day to close with N21 billion profit at N18.309 trillion market value.

Similarly, the NSE All-Share Index recovered from a 0.29 percent dip to gain 0.45 percent and closed the day at 35,042.14 index points.

Investors traded 415.531 million shares valued at N4.898 billion in 5,267 transactions during the trading hours of Monday.

Airtel Africa led the most traded stocks with a N53.5 gain to close at N588.5 per share. MTN Nigeria came second with a 20 kobo gain to close at N155.2 a single share. See the details below.

Top Trades

Symbols Volume Value
MULTIVERSE 84,009,000 N16,801,800.00
ZENITHBANK 47,021,980 N1,134,491,309.95
TRANSCORP 34,072,114 N34,291,450.53
ACCESS 29,904,160 N256,045,236.40
MBENEFIT 21,566,583 N4,659,761.09

Top Gainers

Symbols Last Close Current Change %Change
AIRTELAFRI N535 N588.5 53.5 10.00%
MTNN N155 N155.2 0.2 0.13%
AIICO N1 N1.1 0.1 10.00%
UBN N5.5 N5.6 0.1 1.82%
FCMB N3.25 N3.33 0.08 2.46%

Top Losers

Symbols Last Close Current Change %Change
GUARANTY N35 N33.2 -1.8 -5.14%
BUACEMENT N56 N55 -1 -1.79%
UNILEVER N13.75 N12.95 -0.8 -5.82%
NNFM N7.7 N6.93 -0.77 -10.00%
FIDSON N5.47 N4.93 -0.54 -9.87%

Continue Reading

Stock Market

Moderna Shares Jumped 20.24 Percent After Announcing Plans to Seek Approval for COVID-19 Vaccine in US and Europe

Published

on

COVID-19 Vaccine: Moderna to Seek Emergency Authorisation in US, Europe

The share price of Moderna, an American Biotechnology company, rose by 20.24 percent or $25.71 on Monday after the company announced plans to apply for US and European emergency authorisation for its COVID-19 vaccine that it claimed was 100 percent effective in preventing severe cases and 94.1 percent on the regular.

Tal Zaks, Moderna Chief Medical Officer, said “We believe that we have a vaccine that is very highly efficacious. We now have the data to prove it.”

“We expect to be playing a major part in turning around this pandemic,” Zaks stated.

This is coming two days after the United Kingdom ordered 40 million doses of Pfizer and BioNTech COVID-19 vaccine and announced plans to commence usage as early as December 7th.

Continue Reading

Trending