Nestle S.A. Purchased Additional Stake in Nestle Nigeria Plc
Nestle S.A., a majority shareholder in Nestle Nigeria, has once again increased its stake in Nestle Nigeria Plc.
In a statement signed by Bode Ayeku, Company Secretary, Nestle Nigeria Plc, and released through the Nigerian Stock Exchange (NSE), Nestle S.A Plc purchased additional shares of 229,697 in Nestle Nigeria Plc on November 9th, 2020 in Lagos, Nigeria.
Nestle S.A. bought the 229,697 shares at N1,249.65 per unit share. Bringing total investment to N287.041 million. See the details below.
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.
Nigerian Exchange Limited Gains N59.4 Billion on Monday
Stocks in Africa’s largest economy, Nigeria, gained N59.4 billion on Monday amid positive first-quarter results.
The Nigerian Exchange Limited All-Share Index rose by 0.29 percent from 39,198.75 index points it closed on Friday to settle at 39312.74 index points on Monday.
During the trading hours of Monday, investors traded 324.187 million shares valued at N3.281 billion in 4,867 deals.
The market value of listed stocks grew by N59.4 billion from N20.431 trillion recorded on Friday to N20.491 trillion on Monday.
Regency Assurance Plc (Regalins) led gainers with N0.03 or 9.68 percent to close the day at N0.31 per share.
Associated Bus Company Plc (ABCTRANS) followed with the same amount of gain, N0.03 or 9.68 percent to settle at N0.31 a share. Union Bank of Nigeria came third with N0.5 or 9.26 percent to close at N5.5 per share. See the details below.
Okey Nwuke, Access Bank Non-Executive Director, Purchases 1.3 Million Shares in the Bank
Dr. Okey Nwuke, a non-executive director in Access Bank, has purchased 1.3 million shares of Access Bank, according to the latest disclosure filing from the bank.
Nwuke bought 1.3 million shares at N7.45 a unit on May 5, 2021 at the Nigerian Stock Exchange (NSE).
Dr. Nwuke has over 28 years’ experience in finance and corporate governance working with top corporates and leading commercial banks in Nigeria. He is a Fellow of both the Institute of Chartered Accountants of Nigeria and Chartered Institute of Taxation of Nigeria, an honorary member of Chartered Institute of Bankers of Nigeria and a member of Business Recovery and Insolvency Practitioners.
He has garnered considerable expertise in credit analysis and bank financial management through professional training as a Chartered Accountant, from relevant training programmes as well as on the job training. He was an Executive Director in Access Bank from 2004 to 2013 and served as the Chairman of the Board of Directors of the Bank’s subsidiaries in Rwanda and Burundi. Dr. Nwuke was a pioneer Non-Executive Director of Stanbic IBTC Pension Managers Limited representing Access Bank.
Dr. Nwuke’s key competencies include finance, strategy development and execution, organizational restructuring and transformation, leadership and change management. He joined the Board of Coscharis Group in August 2014 and is currently responsible for the strategic drive to position it for sustainability. He currently chairs the Shareholders’ Audit Committee of NASCON Plc and sits on the Boards of Access Pension Fund Custodian Limited, First Ally Asset Management Limited, Claritus Limited and Simply Gifts and Interiors Limited.
He holds a B.Sc. Degree in Accountancy from University of Nigeria, Nsukka and an MBA (Distinction) in International Banking and Finance from the Birmingham Business School, United Kingdom. Dr. Nwuke holds a Doctorate Degree in Business Administration (DBA) from Walden University, Minnesota, USA with a research focus on leadership transition challenges in family businesses. He has been exposed to several leadership and professional development programmes at renowned institutions including Harvard Business School, Boston (AMP 175), Wharton Business School, Pennsylvania (both in U.S.A), INSEAD and IMD.
He joined the Board in November 2019 and currently chairs the Board Credit and Finance Committee. He is also the Vice-Chairman of the Board Technical Committee on Retail Expansion.
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