11 Plc Extends the Dissenting Period for Delist
11 Plc on Tuesday said it has extended the one-month period given to shareholders to elect to accept the Exit Consideration by another 10 working days.
The company disclosed in a statement released on the Nigerian Stock Exchange (NSE).
11 Plc formerly known as Mobil Oil Nigeria Plc had highlighted plans to delist from the Nigerian Stock Exchange on 9th February 2021, saying the company’s shareholders have between February 1, 2021 to March 1, 2021 to accept the Exit Consideration of the Company.
According to the company, the extension was to allow shareholders enough time to make their decision and ensure a fair process.
Therefore, shareholders that still wish to dissent were asked to forward their completed election forms to the Registrar- Greenwich Registrars & Data Solutions Limited located at 274 Murtala Muhammed Way, Alagomeji-Yaba on or before Monday, 15th of Match 2021.
11 Plc added that “It is however necessary to reiterate that shareholders that intend to remain members of the company are free to remain and may decide to keep their shares (which will be tradable on the NASD OTC platform).”
The company plans to purchase the interest of dissenting shareholders at N213.90 per share, the highest amount the company shares traded in the last six months.
Stock Investors Lose Another N11 Billion on Wednesday
The Nigerian Exchange Limited (NGX) extended decline on Wednesday as sentiment remained weak across the Exchange.
Investors exchanged 155,773,059 shares valued at N1.510 billion in 3,256 transactions during the trading hours of Wednesday, in contrast to 184,442,908 shares worth N2.343 billion that exchanged hands in 3,809 transactions on Tuesday.
Market value depreciated by N11 billion to N20.243 trillion on Wednesday, further down from N20.254 trillion it closed on Tuesday. While NGX All-Share Index dipped by 0.05 percent to 38,852.69 index points.
Transcorp Hotel Plc led gainers with N0.45 or 10 percent. Followed by Pharm-Deko Plc’s N0.16 or 9.88 percent gain. See the details below.
|TRANSCOHOT||N 4.50||N 4.95||0.45||10.00 %|
|PHARMDEKO||N 1.62||N 1.78||0.16||9.88 %|
|CONOIL||N 22.35||N 24.55||2.20||9.84 %|
|CORNERST||N 0.49||N 0.53||0.04||8.16 %|
|NEM||N 1.90||N 2.00||0.10||5.26 %|
|VERITASKAP||N 0.23||N 0.21||-0.02||-8.70 %|
|UCAP||N 9.00||N 8.55||-0.45||-5.00 %|
|CHAMS||N 0.22||N 0.21||-0.01||-4.55 %|
|ACCESS||N 8.90||N 8.60||-0.30||-3.37 %|
|JAPAULGOLD||N 0.47||N 0.46||-0.01||-2.13 %|
Stock Market Extends Decline Amid Profit-taking
The Nigerian stock market extended declines on Tuesday as selloff in the banking sector plunged investors’ wealth by N17 billion.
The Nigerian Exchange Limited All-Share Index depreciated by 0.08 percent to 38,873.85 index points, down from 38,906.42 index points recorded on Monday. While market value of listed equities dipped by N17 billion from N20.271 trillion on Monday to N20.254 trillion on Tuesday.
Investors traded 184,442,908 shares valued at N2.343 billion in 3,809 transactions during the trading hours of Tuesday, against 190,959,987 shares worth N2.353 billion in 3,462 transactions that exchanged hands on Monday.
In terms of volume traded, United Bank for Africa Plc led with 38994303.00 shares worth N297,640,689.80. GTCO followed with 19036730.00 shares valued at N517,862,116.20. See the details below.
|MRS||N 13.85||N 15.20||1.35||9.75 %|
|VERITASKAP||N 0.21||N 0.23||0.02||9.52 %|
|REGALINS||N 0.44||N 0.47||0.03||6.82 %|
|UNITYBNK||N 0.53||N 0.55||0.02||3.77 %|
|COURTVILLE||N 0.31||N 0.32||0.01||3.23 %|
|NEIMETH||N 1.90||N 1.75||-0.15||-7.89 %|
|CHAMS||N 0.23||N 0.22||-0.01||-4.35 %|
|JAPAULGOLD||N 0.49||N 0.47||-0.02||-4.08 %|
|SOVRENINS||N 0.25||N 0.24||-0.01||-4.00 %|
|WEMABANK||N 0.79||N 0.76||-0.03||-3.80 %|
NGX to Host Inaugural TechNovation Conference
Nigerian Exchange (NGX) Limited is set to host the inaugural edition of its TechNovation Conference on Thursday, 30 September 2021.
NGX TechNovation Conference is a flagship event that provides a platform for local and global technology leaders to syndicate conversations around technology, partnerships and innovation that can advance technology adoption in the Nigerian capital market.
With the theme, “Technology, Platforms and Markets”, the event will be hosted by the Chief Executive Officer (CEO), Nigerian Exchange (NGX) Limited, Mr. Temi Popoola, CFA and will feature leading industry experts across the public and private sectors including the Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda; Dr. Segun Aina, President, Africa Fintech Network; and Olugbenga Agboola, Co-Founder and CEO, Flutterwave.
Key topics to be addressed during the conference are: The Future is Digital – Digital Transformation, New Tech and Emerging Markets; The Path to Exponential Growth – New Technology, Platforms, Emerging Markets, Data & Regulation; and Beyond Tech – Partnerships, Business Models and Innovation. Interested participants can register online.
Some of the other confirmed speakers at the event include; Iyin Aboyeji, Founder & General Partner, Future Africa; Bayo Adekanbi, Chief Transformation Officer, Data Science Nigeria; Dayo Obisan, Government Relations, SEC; Abasi Ene-Obong, CEO, 54Gene; Oremeyi Akah, Chief Customer Experience Officer, Interswitch; Ini Akpan, Country Manager, Opay; and Andreas Itern, Co-Founder & CEO, F10.
The advancement and exponential growth of technology around the world have signaled a new wave of opportunities for forward-thinking organizations. NGX remains committed to leveraging technology to provide a broad range of services including but not limited to smart capital formation. TechNovation will, therefore, serve as a platform that can create opportunities for smart business leaders looking to tap into the next level of growth and competitive advantage.
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