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Nigerian Stock Exchange

Dangote Cement to Resume Share Buyback

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Dangote Cement - Investors King

Shareholders of Dangote Cement Plc have passed a special resolution for the company to resume its share buyback programme at the just concluded Annual General Meeting (AGM) held on May 26th 2021 at Eko Hotel and Suites, Victoria Island, Lagos.

The Share Buyback Programme will be done on such terms and conditions and within such timelines as the Board of Directors will determine.

The leading cement manufacturer announced on January 22, 2020 that it will repurchase up to 10 percent of its total issued shares from the shareholders.

However, Covid-19 disrupted the company’s plan to fully implement the Programme as planned.

According to a statement signed by Edward Imoedemhe, Deputy Company Secretary, Dangote Cement Plc, the company will now resume the repurchase programme given the improvement in economic conditions of the nation and stabilisation of the stock market.

With the stabilization of the stock market and improvement in economic conditions, the Board of Directors consequently decided that it is in the best interest of the Company to undertake further tranches of the Programme,” the company stated.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Nigerian Stock Exchange

Equities Market Closes in Red on Monday

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Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited extended its bearish trend on Monday as several unclear economic policies continue to dictate market sentiment.

Investors traded 209,212,596 shares estimated at N1.763 billion during the trading hours of Monday.

Market value of listed equities dipped to N20.089 trillion on Monday, while the Nigerian Exchange Limited All-Share Index lost 0.27 percent 38545.30 index points.

Meyer Plc led gainers with 8.77 percent to close at N0.57 a share. This was followed by Champion Brew. Plc with 6.06 percent. See the details below.

Top Gainers

Symbols Last Close Current Change %Change
MEYER N 0.57 N 0.62 0.05 8.77 %
CHAMPION N 1.98 N 2.10 0.12 6.06 %
JBERGER N 19.10 N 20.00 0.90 4.71 %
REGALINS N 0.50 N 0.52 0.02 4.00 %
IKEJAHOTEL N 0.94 N 0.97 0.03 3.19 %

Top Losers 

Symbols Last Close Current Change %Change
FIDSON N 5.10 N 4.60 -0.50 -9.80 %
LASACO N 1.50 N 1.36 -0.14 -9.33 %
FTNCOCOA N 0.33 N 0.30 -0.03 -9.09 %
MBENEFIT N 0.45 N 0.41 -0.04 -8.89 %
CORNERST N 0.58 N 0.55 -0.03 -5.17 %

Top Traders

Symbols Volume Value
ACCESS 22719611.00 193988537.35
MANSARD 16700986.00 15046288.96
ZENITHBANK 16144873.00 384583513.35
MBENEFIT 14685025.00 6036206.91
CHAMS 13478252.00 2703150.40

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Nigerian Stock Exchange

Presco Plc to Hold Emergency Meeting to Recommend Acquisition of Private Company to Shareholders

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Presco Plc - Investors King

Presco Plc, an agro-industrial company, has notified shareholders of the company, the Nigerian Exchange Group and the investing public that the Board of Directors of Presco Plc will hold an emergency meeting on Thursday 24th June, 2021 to recommend for the shareholders to consider the acquisition of an existing private company through shares.

The existing private company, according to a statement signed by Patrick Uwadua Esq., Company Secretary, Presco Plc, is in the same line of business with Presco Plc.

Presco said once considered, a resolution will be passed at the company’s next General Meeting to authorise the acquisition of all the shares of the existing private company.

Meanwhile, the company commenced its closed period on today, Wednesday 16 June 2021 until 24 hours after the decisions taken at the Board Meeting are released to the public.

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Nigerian Stock Exchange

Cornerstone Insurance, Morison, Others Lead Gainers as Stock Market Gains

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stock bull - Investors King

Nigerian Exchange Group rebounded from 1.66 percent decline recorded on Tuesday to close with 0.15 percent gain on Wednesday as more stocks closed in the green.

Investors traded 302,722,917 shares valued at N2.809 billion during the trading hours of Wednesday, against the 297.35 million shares worth N3.65 billion that were exchanged in 4,402 deals on Tuesday.

Market value of listed stocks appreciated from N20.07 trillion on Tuesday to settle at N20.099 trillion on Wednesday.

Nigerian Exchange Group All-Share Index gained 0.15 percent from 38,507.29 index points on Tuesday to 38564.70 index points on Wednesday.

Cornerstone Insurance led gainers with 10 percent, while Morison followed with 9.68 percent as shown below. Sterling bank emerged the most traded stocks with 37473362.00 shares valued at N57825053.65.

Top Gainers 

Symbols Last Close Current Change %Change
CORNERST N 0.50 N 0.55 0.05 10.00 %
MORISON N 1.24 N 1.36 0.12 9.68 %
LEARNAFRCA N 0.92 N 0.98 0.06 6.52 %
AFRIPRUD N 6.05 N 6.40 0.35 5.79 %
COURTVILLE N 0.20 N 0.21 0.01 5.00 %

Top Losers 

Symbols Last Close Current Change %Change
ABBEYBDS N 1.05 N 0.95 -0.10 -9.52 %
CHIPLC N 0.74 N 0.67 -0.07 -9.46 %
CWG N 1.24 N 1.15 -0.09 -7.26 %
WAPIC N 0.57 N 0.53 -0.04 -7.02 %
REGALINS N 0.48 N 0.45 -0.03 -6.25 %

Top Trades

Symbols Volume Value
STERLNBANK 37473362.00 57825053.65
ETI 27396295.00 142467020.85
WEMABANK 27146019.00 15001766.29
GUARANTY 26491561.00 745342100.20
JAPAULGOLD 22136983.00 11040985.74

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