Corporate actions are decisions taken by a company’s board of directors or management, that could have impact on the firm itself or shareholders.
Examples of corporate actions include the payment of dividends, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates.
Here is a review of corporate actions that held last week, and those expected this week.
Learn Africa Plc
Learn Africa Plc was established in 1961 and is into publication and marketing of books at all levels. The company closed its shareholders’ register from Monday the 9th of July to Friday the 13th of July, 2018. This is done in preparation of a dividend payment.
Trans-Nationwide Express (Tranex) Plc
Trans-nationwide Express (Tranex) Plc provides courier services, freight services, logistics, mail room management, and haulage services. Tranex Plc held its Annual General Meeting (AGM) on Thursday the 12th of July, 2018.
An AGM provides the opportunity for the management team of a company to brief shareholders on its plans for the year.
Guinea Insurance Plc
Guinea Insurance Plc held its Annual General Meeting (AGM) on Thursday, the 12th of July, 2018.
Conoil held its Annual General Meeting (AGM) on Thursday, the 12th of July, 2018.
C & I Leasing Plc
C&I Leasing Plc last week concluded the buyout of 27.5% minority stake in C&I Petrotech Marine Limited. C&I Petrotech Marine Limited is now a fully owned subsidiary of C&I Leasing Plc.
Equity Assurance Plc, on Friday announced its change of name to Sunu Assurances Nigeria Plc.
Corporate Actions for the week ending 20th of July 2018
Portland Paints and Products Nigeria Plc
Portland Paints and Products Nigeria was incorporated as a private limited liability company on the 3rd of September, 1985. The company was converted to a public limited liability company on the 24th of April, 2008.
The principal activities of the firm are the manufacturing and sale of paints and protective coatings for the oil and gas, and marine sectors.
Portland Paints Plc is a subsidiary of UAC of Nigeria Plc.
The company will be holding its Annual General Meeting (AGM) on Friday, the 20th of July, 2018.
NAHCO Aviance Plc
Nigerian Aviation Handling Company (NAHCO) Aviance Plc will be holding its Annual General Meeting (AGM) on Friday, the 20th of July, 2018.
AGMs provide the opportunity for investors to gain insight into managements’ plans for the new financial year. Investors would do well to pay a close watch to the AGM to gain further insight into a key investor divesting.
RAK Unity Petroleum Plc
Rak Unity Petroleum Plc was incorporated on the 20th December, 1982, as a private limited liability company and converted to a public company on 16th November, 1987. The company deals in retail and bulk supply of petroleum products, and is listed on the Alternative Securities Exchange Market (ASEM) of the NSE.
The company has picked the 20th of July as the qualification date for its dividend payment. Investors holding the company’s shares on this date will be eligible for dividends.