11 Plc Formerly Mobil to Delist from NSE on 31, March 2021, Plans to Pay Shareholders N213.90 Per Share
11 Plc, former Mobil, has finalised plans to delist from the Nigerian Stock Exchange (NSE) on March 31, 2020, according to the latest filing with the NSE.
The company said it would purchase the interest of present shareholders at N213.90 per share, the highest amount the company price traded in the last six months.
“The interest of dissenting shareholders shall be bought by the Company for a consideration of N213.90 (Two Hundred and Thirteen Naira, Ninety Kobo Only) per ordinary share, being the highest price at which 11 Plc shares have traded, six (6) months preceding the notice of the AGM at which the resolution to delist was deliberated, as provided by the rules of the Nigerian Stock Exchange. The Financial Advisers and the Board, therefore consider this price fair and reasonable,” the company stated.
The 11 Plc average trading volume in the last 12 months stood at 48,272.22 shares at an average daily value of N8,236,994.97.
The statement noted that the delisting was approved by shareholders of the company on October 14m 2020 at the Annual General Meeting.
“Upon the delisting of 11Plc, the shares of the Company will no longer be available for trading on the Main Board of the Nigerian Stock Exchange. It is envisaged that the delisted 11 Plc will continue its operations as an unlisted Public Company.
“The delisting will not have any impact on the existing employment contracts of its staff.”
Stock Investors Gained N25 Billion on Wednesday
Investors that invested in the Nigerian Exchange Limited (NGX) gained N25 billion on Wednesday as more stocks closed in the green.
Investors traded 141,407,914 shares valued at N2.973 billion in 3,079 transactions during the trading hours of Wednesday, contrast to 228,479,010 shares valued at N1.879 billion that exchanged hands in 3,376 deals on Tuesday.
Market value grew by N25 billion from N20.278 trillion it closed on Tuesday to N20.303 trillion on Wednesday, while the NGX All-Share Index appreciated by 0.12 percent to 38,968.34 index points, up from 38,920.5 index points.
UPDC Plc led gainers for second consecutive day with N0.16 or 9.64 percent to close at N1.82 per share. While N Nig. Flour Mills Plc followed with N0.70 or 9.59 percent to settle at N8 a unit. See the details below.
|UPDC||N 1.66||N 1.82||0.16||9.64 %|
|NNFM||N 7.30||N 8.00||0.70||9.59 %|
|OANDO||N 4.35||N 4.62||0.27||6.21 %|
|LEARNAFRCA||N 1.36||N 1.44||0.08||5.88 %|
|HONYFLOUR||N 3.92||N 4.07||0.15||3.83 %|
|TRANSCOHOT||N 5.00||N 4.50||-0.50||-10.00 %|
|CHIPLC||N 0.53||N 0.48||-0.05||-9.43 %|
|PRESTIGE||N 0.48||N 0.44||-0.04||-8.33 %|
|CHAMPION||N 2.08||N 1.91||-0.17||-8.17 %|
|LASACO||N 1.30||N 1.20||-0.10||-7.69 %|
Nigerian Exchange Limited Closes Slightly in Green on Tuesday Following Weeks of Bearish Trend
The Nigerian Exchange Limited (NGX) rebounded slightly from bearish trends on Tuesday as investors gained N2 billion after weeks of trading in the red.
Market value of all stocks rose to N20.278 trillion on Tuesday, up by N2 billion from N20.276 trillion recorded on Monday. While the NGX All-Share Index gained 0.01 to close at 38,920.5 index points from 38,915.62 index points it settled on Monday.
Investors transacted 228,479,010 shares valued at N1.879 billion in 3,376 deals during the trading hours of Tuesday, against 201,103,282 shares worth N2.526 billion that exchanged hands in 3,340 transactions on Monday.
UPDC Plc led gainers with N0.15 or 9.93 percent to close the day at N1.66 a share while Academy Press Plc followed with N0.03 or 8.33 gain to settle at N0.39 a unit.
Investors renewed interest in Wema Bank as a total of 46,760,667.00 shares valued at N35,973,004.78 were traded during on Tuesday. Access Bank came second with 28239839.00 shares worth N263,494,888.05
|UPDC||N 1.51||N 1.66||0.15||9.93 %|
|ACADEMY||N 0.36||N 0.39||0.03||8.33 %|
|COURTVILLE||N 0.27||N 0.29||0.02||7.41 %|
|VITAFOAM||N 16.75||N 17.40||0.65||3.88 %|
|LIVESTOCK||N 2.08||N 2.14||0.06||2.88 %|
|SOVRENINS||N 0.27||N 0.25||-0.02||-7.41 %|
|UPL||N 1.09||N 1.02||-0.07||-6.42 %|
|REGALINS||N 0.48||N 0.45||-0.03||-6.25 %|
|UACN||N 10.30||N 9.80||-0.50||-4.85 %|
|CHAMS||N 0.22||N 0.21||-0.01||-4.55 %|
Stock Market Dips Marginally on Monday, Investors Lose N3 Billion
The Nigerian Exchange Limited (NGX) extended its decline on Monday after losing N177 billion in market value last week.
The market capitalisation of all listed equities depreciated by N3 billion from N20.279 trillion it closed on Friday to N20.276 trillion on Monday. While the NGX All-Share Index declined by 0.02 percent from 38,921.78 index points recorded last week to 38915.62 index points on Monday.
Investors traded 201,103,282 shares worth N2.526 billion in 3,340 transactions during the trading hours of Monday.
In terms of volume traded, Universal Insurance Plc led with 19446846.00 shares valued at N3,889,371.20. Fidelity Bank followed with 19282958.00 shares worth N46,513,270.13. See the details below.
|MORISON||N 1.92||N 2.10||0.18||9.38 %|
|SOVRENINS||N 0.25||N 0.27||0.02||8.00 %|
|LINKASSURE||N 0.57||N 0.60||0.03||5.26 %|
|FIDELITYBK||N 2.30||N 2.40||0.10||4.35 %|
|INTBREW||N 4.80||N 5.00||0.20||4.17 %|
|SCOA||N 1.30||N 1.17||-0.13||-10.00 %|
|ACADEMY||N 0.39||N 0.36||-0.03||-7.69 %|
|UPDC||N 1.61||N 1.51||-0.10||-6.21 %|
|ABCTRANS||N 0.35||N 0.33||-0.02||-5.71 %|
|OANDO||N 4.64||N 4.45||-0.19||-4.09 %|
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