Sanni Olalekan Akeem Buys 100,000 Vitafoam Shares

Mr. Sanni Olalekan Akeem, the Company Secretary and Legal Adviser, Vitafoam Nigeria Plc, purchased 100,000 ordinary shares of the company in two transactions.

In a statement released and signed by the same Sanni Olalekan, the secretary cum legal adviser bought 95,000 shares at N5.25 per unit and another 5,000 at the same price on August 31, 2020 at the Nigerian Stock Exchange in Lagos, Nigeria.

On Tuesday, the management of Vitafoam Plc reported that Adeniyi Taiwo Ayodele, an Executive Director of the company bought 192,000 shares in four different transactions.

Therefore, in the last two weeks, Dr. B.O. Makanjuola, a non-executive director, Mr. Alegbesogie Joseph Igbinigesu, another non-executive director and Ayodele purchased combined N428,193 shares of the company. Suggesting that the company’s executives are confident in Vitafoam’s current policy direction and positive about its future growth.

Insider dealings give clues on insiders’ sentiment and director unlike before the new transparent policy where shareholders do not know what executives that formulates policy that impacts their desire stocks are doing. See the details of Olalekan Akeem below.