The Nigerian Stock Exchange (NSE) extended its decline by 1.74 percent last week as sell-off persist across the board.
Investors traded 1.675 billion shares valued at N23.541 billion in 21,732 transactions during the week, against a total of 2.093 billion shares valued at N29.744 billion that exchanged hands in 24,238 deals in the previous week.
In terms of volume traded, the financial services industry led the activity chart with 1.200 billion shares worth N10.272 billion and traded in 12,518 transactions. Therefore, the industry contributed 71.64 percent and 43.64 percent to the total equity turnover volume and value, respectively.
This was followed by the consumer goods industry with 110.564 million shares valued at N3.577 billion in 3,234 deals.
In third place was the industrial goods industry, with a turnover of 99.761 million shares worth N5.322 billion in 1,309 deals.
The top three most traded equities were United Bank for Africa Plc, FBN Holdings Plc and Zenith Bank Plc. The three accounted for a combined 524.548 million shares worth N5.957 billion in 5,346 deals and contributing 31.32 percent and 25.30 percent to the total equity turnover volume and value, respectively.
The market value of listed equities declined by 1.74 percent or N357 billion from N20.578 trillion in the previous week to N20.221 trillion last week.
Similarly, NSE All-Share Index depreciated by 1.74 percent or 683.13 basis points to 38,648.48 basis points, down from 39,331.61.
Champion Breweries led the week with a 45.24 percent gain to close at N2.44 per share. Followed by Regency Assurance Plc as shown below.
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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