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MTN Nigeria Shareholders Fixed Fees of Board Chairman at N28.9 Million, Non-Executive Directors Fixed at N16.5 Million

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MTN Nigeria - Investors King

Shareholders at the just concluded Annual General Meeting of MTN Nigeria Communications Plc held on Monday 7th, June 2021, fixed the fees of the Board Chairman at N28,920,000 (Twenty-eight million nine hundred and twenty thousand Naira only).

The increase in fees will be effective from the year ending 31st December 2021 and will be phased over two years, according to the annual general meeting resolutions.

Shareholder representatives fixed Non-Executive Directors fees at N16,472,000 (Sixteen million four hundred and seventy-two thousand naira only). Similarly, the increase will be phased over two years.

The Board of Directors was authorised to permit the use of Company’s information in all offer documents to be issued in connection with the establishment of the Programme and the offer (s) for Sale thereunder.

MTN Nigeria was authorised to established an Equity Shelf Programme for purpose of facilitating offer(s) for the sale of shares in the Company by MTN International (Mauritius) Limited, which is being undertaken to, amongst others, expand the free float and shareholders base of the Company.

Shareholders also approved a total sum of N120,091,626,995.00 (One hundred and twenty billion ninety one million six hundred and twenty-six thousand nine hundred and ninety-five Naira) which translates to N5.90 kobo per every 2 kobo ordinary share; to shareholders whose names appear in the Company’s Register of Members at the close of business on Tuesday, May 4, 2021 (bringing total dividend for the year ended 31st December 2020 to N9.40), subject to withholding tax, be and is hereby approved.

Ms. Tsholofelo Molefe was elected as a Director of the Company while Dr. Ernest Ndukwe, OFR was re-elected as a Director. Mr. Ralpha Mupita and Mr. Jens Schulte-Bockum were also relected as Directors at the Annual General Meeting (AGM).

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

Equity Investors Gain N10 Billion Last Week

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stock bull - Investors King

Investors at the Nigerian Exchange Limited gained N10 billion last week despite losing for three consecutive days.

Investors traded 1.290 billion shares worth N13.921 billion in 16,745 deals on the floor of the Exchange, in contrast to a total of 856.289 million shares valued at N10.752 billion that exchanged hands in 15,663 transactions in the previous week.

In terms of volume traded, the Financial Services Industry led the activity chart with 978.172 million shares valued at N8.300 billion traded in 8,716 deals. Therefore, contributing 75.80 percent and 59.62 percent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 62.006 million shares worth N1.187 billion in 2,546 deals. In the third place
was Conglomerates Industry, with a turnover of 49.055 million shares worth N126.288 million in 589 deals.

FBN Holdings Plc, United Bank For Africa Plc and Guaranty Trust Holding Company Plc were the three most traded equities, accounting for a combined 626.958 million shares worth N5.766 billion in 2,526 transactions and contributed 48.58 percent and 41.42 percent to the total equity turnover volume and value, respectively.

The NGX All-Share Index appreciated by 18.41 index points or 0.05 percent from 38,943.87 index points recorded in the previous week to 38,962.28 index point last week. Market Capitalization also appreciated by 0.05 percent or N10 billion to close N20.300 trillion, up from N20.290 trillion.

Similarly, all other indices finished higher with the exception of NGX 30, NGX CG, NGX Banking, NGX Pension, NGX-AFR Bank Value, NGX AFR Div Yield, NGX MERI Value and NGX Consumer Goods indices which depreciated by 0.04 percent, 0.36 percent, 0.43 percent, 0.05 percent, 0.72 percent, 0.50 percent, 0.75 percent and 0.04 percent, respectively. While the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.

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Nigerian Stock Exchange

Stock Investors Lose Another N11 Billion on Wednesday

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Nigerian Exchange Limited - Investors King

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.

Top Gainers

Symbols Last Close Current Change %Change
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 %

Top Losers 

Symbols Last Close Current Change %Change
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 %

Top Trades

Symbols Volume Value
UNIVINSURE 19040500.00 3808100.00
UBA 18778552.00 143097682.80
ZENITHBANK 11757422.00 268830997.45
GTCO 10015581.00 271262745.25
UCAP 8519588.00 74569386.55

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Nigerian Stock Exchange

Stock Market Extends Decline Amid Profit-taking

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Stock - Investors King

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.

Top Gainers

Symbols Last Close Current Change %Change
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 %

Top Losers

Symbols Last Close Current Change %Change
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 %

Top Trades

Symbols Volume Value
UBA 38994303.00 297640689.80
GTCO 19036730.00 517862116.20
ZENITHBANK 14199218.00 326522432.45
UCAP 12887768.00 114176622.20
ACCESS 10083060.00 90170729.90

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