Karl Toriola, the Chief Executive Officer of MTN Nigeria Communications Plc, was honoured with the Nigerian Stock Exchange digital Closing Gong.
Mr. Oscar N. Onyema, OON, the CEO, NSE, who spoke at the event, said “On behalf of the National Council and Management of the NSE, I congratulate Mr. Karl Toriola on his appointment as the CEO of MTN Nigeria. Mr. Toriola is a versatile leader who comes with vast knowledge and relevant experience spanning over 25 years, and we are delighted to host him on his first day on the job. At the NSE, we continue to provide a platform to support our clients in meeting their strategic business objectives and we are pleased to see listed companies take full advantage of the NSE’s products and services. I, therefore, use this opportunity to invite MTN Nigeria Plc and other stakeholders to partner with The Exchange across the various themes of capital formation, capacity building, sustainability, and many others.”
On his part, Mr. Toriola commented thus: “I would like to thank the NSE in its entirety for offering me this distinguished honour of ringing the closing bell on the first day of my tenure as CEO of MTN Nigeria. I must also thank the Board, shareholders and staff of MTN Nigeria even as I reflect on the responsibility on my shoulder to lead what is the largest corporate by revenue outside the oil industry and the second-largest corporate listed on the NSE as at today. I am committed to leading MTN Nigeria to deliver on our responsibility to the over 70 million Nigerian customers that use our services to ensure they stay connected and can access increasing value and better services through our network; our role as a corporate citizen in the recovery and growth of the Nigerian economy; and our need to deliver value and drive share price for the good of our shareholders.”
The NSE has continued to remain resilient leveraging various digital platforms and innovative technology to ensure business continuity and uninterrupted dissemination of information to the market. The investments made by The Exchange in this regard have indeed proven to be worthwhile given the extraordinary times we now live and work. In April last year, NSE launched the digital Closing Gong Ceremony and since then, it has hosted several webinars, virtual events and interactive sessions with esteemed stakeholder groups.
Hallmark Insurance, Japaul Gold Lead Gainers as Equities Market Closed in Green
Consolidated Hallmark Insurance Plc and Japaul Gold led gainers on Thursday as the Nigerian Stock Exchange closed in the green.
Investors exchanged 145.332 million shares valued at N1.576 billion in 3,525 transactions during the trading hours of Thursday.
Market value of listed equities inched slightly higher to N20.300 trillion while the Nigerian Stock Exchange All-Share Index gained 0.07 percent to 38,799.83 index points.
Banks’ stocks led the most traded stocks with First Bank of Nigeria Holdings leading with 21,851,331 shares valued at N157,179,233.85. This was followed by GTBank’s 20,500,310 shares estimated at N589,173,071.90. See the details below.
Delist: 11 Plc Opens Escrow Account to Settle Shareholders
In a bid to complete its ongoing delisting process and settle shareholders accordingly, 11 Plc, formerly Mobil, has opened an escrow account with Greenwich Registrars and Data Solutions Limited and provided sufficient funds to shareholders, who as of March 15, 2021, have accepted the Exit Consideration of N213.90 per share based on the highest price of N213.90 at which 11 Plc traded in the last 6 months preceding the date of the Annual General Meeting where the resolution to delist was passed in line with the Nigerian Stock Exchange guidelines.
The company said, “Further to the application made to The Exchange by 11 Plc on the Voluntary Delisting of the Company from The Exchange as recommended by the Board of Directors, the Exchange approved the delisting application subject to 11 plc’s evidence of opening an escrow account in the Registrar’s name and evidence that shareholders who have accepted to exit have been paid.”
11 Plc attributed the decision to delist from NSE to the need to strategise for better performance, minimise costs, and stay competitive within its industry.
On the escrow account, it said “the consideration accruing to shareholders of 11 plc that elect to accept the Exit Consideration has been computed as of March 15, 2021. The cash consideration will be settled by way of electronic transfer to the respective bank accounts of Shareholders and it is expected to be completed on or before April 16, 2021.”
Dr. Ajoritsedere Josephine Awosika Access Bank Chairman Scoops More Access Bank Shares
Dr. Ajoritsedere Josephine Awosika, the Chairperson of Access Bank Plc, scooped additional 7,109,104 ordinary shares of the bank on Tuesday, according to the latest disclosure statement of the bank.
In the statement signed by Sunday Ekwochi, Company Secretary, Access Bank Plc, and released via the Nigerian Stock Exchange (NSE), Dr. (Mrs) Ajoritsedere Josephine Awosika acquired the shares on Tuesday 6th, April 2021 at N8.15 per share from the Nigerian Stock Exchange trading floor in Lagos, Nigeria.
At N8.15 per share, Mrs Awosika dumped N57.939 million on 7,109,104 shares of access bank.
Dr. (Mrs.) Ajoritsedere Josephine Awosika, MFR is an accomplished administrator with over three decades’ experience in public sector governance. She was at various times, the Permanent Secretary in the Federal Ministries of Internal Affairs, Science & Technology and Power. She is a Fellow of the Pharmaceutical Society of Nigeria and the West African Postgraduate College of Pharmacy. She holds a Doctorate degree in Pharmaceutical Technology from the University of Bradford, United Kingdom.
She was appointed to the Board of Access Bank in April 2013 and served as the Vice-Chairman of the Board Audit Committee and Chairman of the Board Credit and Finance Committee.
Dr. Awosika sits on the boards of Capital Express Assurance Ltd and Josephine Consulting Limited.
She became the Chairman of the Board on January 8, 2020 following the retirement of Mrs. Mosun Belo-Olusoga.
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