Insider Dealings: Nestle, McNichols Insider Trades Disclosed

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.