Airtel Africa, a leading telecommunications company in Africa, on Thursday confirms the default currency and options on currency election for interim dividend, and the currency exchange rates that will be applicable Great Britain Pound or the Nigerian Naira.
In a statement signed by Simon O’Hara, Group Company Secretary, Airtel Africa, and released on the Nigerian Stock Exchange, the telecom giant said shareholders that hold London Stock Exchange may elect to receive their entire dividend payment in GBP or USD Dollar. See the details below.
Arrangements for Shareholders that hold their shares on the London Stock Exchange (LSE):
Shareholders that hold their shares on the London Stock Exchange may elect to receive their
entire dividend payment in GBP or USD Dollar.
Partial elections are not permissible.
Holders electing to receive a dividend should specify a choice of currency by completing the
Currency Election Form and return to Computershare Investor Services plc.
Shareholders holding their shares on the LSE who do not indicate their currency of choice
before 27 November 2020 will receive their dividends in USD.
The closing date for the dividend currency election to the Company’s Registrars
Computershare Investor Services plc in the UK is 27 November 2020.
Currency election forms can be obtained by contacting the Company’s Registrars,
Computershare Investor Services plc, on the Company’s dedicated telephone line: +44
Arrangements for Shareholders that hold their shares on the Nigerian Stock Exchange (NSE):
Shareholders that hold their shares on the Nigerian Stock Exchange may elect to receive their
entire dividend payment in Dollars.
Partial elections are not permissible.
Holders electing to receive a dividend in Dollars should complete the Currency Election Form
and return to United Securities Limited (address as shown above) or email to
Shareholders holding their shares on the NSE who do not indicate their currency of choice
before 27 November 2020 will receive their dividends in Naira.
The closing date for the dividend currency election to the Company’s Registrars United
Securities Limited in Nigeria is 27 November 2020.
Currency election forms can found on the website of the Company’s Registrar’s at
www.unitedsecuritieslimited.com or this direct link: https://bit.ly/2IhpY2o
The following currency exchange rate will be applicable in the determination of the interim dividend
payment to any shareholders that qualify for and have elected to receive the interim dividend
1 USD = 386 Naira
1 USD = 0.7534 GBP
The exchange rate for the Naira amounts payable was determined by reference to the exchange
rates applicable to the US Dollar available on 10 November 2020.
Stocks on Nigerian Exchange Limited Sustains Gain on Tuesday
Listed stocks on the Nigerian Exchange Limited gained N36 billion on Tuesday to sustain Monday’s positive momentum.
The bourse All-Share Index rose by 0.18 percent from 39,312.74 index points on Monday to close at 39,382.96 index points on Tuesday. While the market value of listed equities expanded by N36 billion to settle at N20.527 trillion, up from N20.491 trillion recorded on Monday.
Investors traded 296.596 million shares valued at N3.362 billion in 4,265 transactions during the trading hours of Tuesday.
Meyer led gainers with N0.05 or 9.62 percent gain to close at N0.57 per share. This was followed by Presco with N6.90 or 9.58 percent gain as shown below.
Stock Market Snapshot
|EQUITY CAP||N 20,527,328,320,996.84|
|BOND CAP||N 17,216,586,380,738.50|
|ETF CAP||N 18,261,586,163.62|
Global Sell-off Should be a Reality Check for Investors: deVere CEO
Concerns about inflation that are rattling global stock markets on Tuesday should be used as a reality check for investors, says the CEO of one of the world’s largest financial advisory and fintech organizations.
The observation from Nigel Green, chief executive and founder of deVere Group comes as the pan-European Stoxx 600 index dropped 2.3%, with London’s FTSE 100 falling 2.4%.
Losses in Europe follow those in the Asia Pacific region. Hong Kong’s Hang Seng closed more than 2% lower and Japan’s Nikkei 225 ended the Tokyo trading session having shed more than 3%.
Meanwhile, U.S. futures are down across the board ahead of the opening bell in New York.
Mr Green says: “It is to be expected that there would be a jump in prices and supply shortages, in goods like chips and some commodities, as economies re-open and pent-up demand is unleashed by households, businesses and entire industries.
“We’re at a point of major readjustment following an unprecedented economic shock and this is fuelling concerns that rising inflation will trigger central banks to tighten monetary policy which will hit asset prices.
“It is this scenario that is rattling markets and triggering a global sell-off.”
He continues: “Tech shares are bearing the brunt of the sell-off, but this will also be used as an opportunity.
“With our daily lives becoming ever more digitalized – and at a staggering pace – tech will remain one of the mega-trends for investors for the foreseeable future.
“Savvy investors will be drawn to the massive growth that tech offers and this sell-off will used as a buying opportunity. Nobody seriously believes the future isn’t online.”
Therefore, says Mr Green, investors would be wise to be “selective” about the sell-off.
“With some of the heat being taken out of the markets, with some stocks way too high, they are likely to – perhaps more judiciously than before – move to capitalize on this dip.”
The deVere CEO concludes: “Of course, I don’t have a crystal ball, but history shows that stock markets typically rise over the longer-term.
“Therefore, in the near future, I predict many investors will be seeking out the buying opportunities that exist.”
Investors Jump on Union Bank of Nigeria’s Shares Amid Acquisition Rumour
Shares of Union Bank of Nigeria Plc, a leading financial institution in Nigeria, rose by 50 kobo or 9.26 percent on Monday following reports that Atlas Mara Limited, a 49.7 percent owner in the bank has been talking to investors to sell its stake.
Investors King had reported that Bloomberg sources claimed Atlas Mara Limited, a London Stock Exchange-listed pan-African banking group started by Mr. Bob Diamond is in talks with Zenith Bank, Access Bank and other investors across Africa to sell its holding in the bank.
Since the report became public investors have been acquiring shares of Union Bank in case Zenith Bank or Access Bank, one of the leading banks in the country, acquire it. Even the bank’s CEO, Godson Chukwuemeka Okonkwo, purchased an additional 2,431,917 ordinary shares of the bank on Thursday, according to the bank’s latest disclosure filing.
Union Bank of Nigeria was the third-highest gainer on Monday.
The Nigerian Exchange Limited gained N59.4 billion on Monday to close at N20.491 trillion on Monday.
Ethereum Market Cap Surpasses JPMorgan As It Hits A New ATH
International Breweries To Train 500 Young Entrepreneurs Through Kickstart Initiative
Chinese Smartphone Giant Xiaomi Shares Gains Over 6 Percent After U.S. Agrees to Remove it From Blacklist
News4 weeks ago
COVID-19: Nirsal Microfinance Bank (NMFB) Loan – Covid19.nmfb.com.ng
Social Media4 weeks ago
Lack of Basic Amenities, Unclear Growth Policy Force Twitter to Ghana, Builds Headquarters in Ghana
Billionaire Watch1 week ago
Ethereum Co-Founder Becomes The Youngest Crypto Billionaire As ETH Hits $3K
Bitcoin4 weeks ago
Bitcoin Sets a New Record High at $63,000 on Tuesday
News4 weeks ago
Covid19.nmfb.com.ng: How to Check Nirsal COVID-19 Loan Status
Cryptocurrency4 weeks ago
Rap Icon Nas Could Net $100M When Coinbase Lists on Nasdaq
Crude Oil4 weeks ago
Oil Rises on Drawdown in U.S. Oil Stocks, OPEC Demand Outlook
Cryptocurrency3 weeks ago
Electronics Retailer Newegg now Accepts Dogecoin As Payment