• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

UACN, other investors liquidate Warm Spring Waters Limited

Onome Ohwovoriole by Onome Ohwovoriole
February 16, 2018
in Business News
UACN, other investors liquidate Warm Spring Waters Limited
Share on FacebookShare on TwitterShare on Linkedin

In a notice to the Nigerian Stock Exchange (NSE) today, UAC has announced the liquidation of one of its associate companies Warm Spring Waters Limited. The shareholders of the company at a meeting held on the 6th of February 2018, resolved to appoint a liquidator to wind up the affairs of the company and distribute its assets.

The company located in Ekiti State produced spring water from the Ikogosi warm springs. It was established in 2002. UACN owned 76% of the company, while the Ekiti State government and other investors held the rest.

Reasons for the action

In the notice, UACN declared that the action was due to the difficult operating environment. The company had to rely solely on its own power and had logistics challenges associated with its rural location.

RelatedStories

Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 

Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 

July 13, 2025
10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 

10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 

July 12, 2025

The liquidation will not have a significant effect on UACN as its contribution to UACN’s turnover is less than 1%. The company had a turnover of ₦369 million and a loss before tax of ₦78 million for the 9 months ended September 2017.

UACN’s shares closed at ₦17 in today’s trading session on the NSE. Year to date, the shares are up 0.59%, underperforming the NSE All-Share Index which is up 11.40% year to date.

For the 9 months ended September 2017, revenue increased from ₦56.7 billion in 2016 to ₦68.7 billion in 2017. Profit before tax, however, fell sharply from ₦6.7 billion in 2016 to ₦3.0 billion in 2017.

One of Nigeria’s oldest conglomerates, UACN Plc has been weighed down by the poor performance of some of its subsidiaries thus necessitating a ₦15 billion rights issue in November last year.

₦5 billion will be injected into Grand Cereals Limited as equity, in addition to a ₦3.5 billion company loan. UACN also intends to allocate ₦4 billion as working capital support to both Livestock Feeds Plc and Grand Cereals Plc. ₦2.5 billion from the rights issue will be reserved for new business development.


Follow us for Breaking News and Market Intelligence.
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

Related Posts

Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 
Cryptos

Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 

July 13, 2025
10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 
Exclusives

10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 

July 12, 2025
Geregu Power PLC wins “Most Compliant Listed Company” at 2024 Made of Africa Awards  
Company Results

Geregu Power reports N13 billion Q2 2025 profit, up 61% YoY, beats Q2 forecast 

July 12, 2025
HealthCap Africa launches HealthTech Unicorns Report 2.0 in Lagos, charts bold future for Africa’s health innovation
Companies

HealthCap Africa launches HealthTech Unicorns Report 2.0 in Lagos, charts bold future for Africa’s health innovation

July 12, 2025
Canada
"Japa"

Canadian province shuts family reunification intake for spouses, adult dependent children until June 2026 

July 12, 2025
Lagos State orders immediate halt to reclamation activities at Orange Island over drainage violations 
Real Estate and Construction

Lagos State orders immediate halt to reclamation activities at Orange Island over drainage violations 

July 12, 2025
Next Post
This is officially the lowest priced stock on the NSE

This is officially the lowest priced stock on the NSE

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 
  • 10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 
  • Geregu Power reports N13 billion Q2 2025 profit, up 61% YoY, beats Q2 forecast 

Follow us on social media:

Recent News

Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 

Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 

July 13, 2025
10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 

10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 

July 12, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics