Abdul Samad Rabiu, Chairman of BUA Cement, Transfers N7 million Worth of Shares to Godswill Egbe

Mr. Abdul Samad Rabiu, the Chairman of BUA Cement Plc and founder of BUA International Limited, has transferred 100,000 shares at N69.92 each through BUA International Limited to Godswill Egbe, a project manager.

The details of the transaction were contained in the two disclosure statements released through the Nigerian Exchange Limited on Friday.

The nominal transfer was recorded as a sale of shares for BUA International Limited (Transferor) and as a purchase of shares for Godswill Egbe (Transferee).

“Nominal transfer is the transfer of unlisted public securities between a Transferor and Transferee who are related or connected parties with no exchange of money or consideration for the transfer.”

The total value of the shares stood at N6.9 million. Therefore, bringing the total value of shares divested or sold by Rabiu in the last one month to N1.933 billion.

In June 2021, Investors King had reported that the chairman divested 27,130,000 shares valued at N1,926,230,000. Rabiu still holds about 31 billion shares in the company, representing around 92 percent of the total shares issued by BUA Cement.