The Nigerian Stock Exchange ended Friday’s trading session on a bearish note as the All Share Index closed at 36,499.67 basis points, down 0.52%. Year to date, the index is down 4.56%
Notore Chemical Industries Plc which was listed yesterday traded 1.03 million shares valued at N64.7 million in 67 deals.
Top Gainers and Losers
Union Diagnostic and Clinical Services Plc led the gainers chart, closing at N0.33 up 10%. Beta Glass closed at N85.80 up 10%. Equity Assurance closed at N0.22 up 10%.
On the flip side, Mutual Benefits Assurance closed at N0.37, down 9.76%. AXA Mansard insurance closed at N2.40 down 9.43%. Cadbury rounds up the top 3 losers, down 8.88% to close at N9.75
NAHCO Aviance was the largest traded stock by volume as 59.6 million shares valued at N239 million were traded in 19 deals. UBA Plc was next on the list with 29.3 million shares valued at N282 million traded in 128 deals. Diamond Bank rounds up the top 3 most traded with 20.2 million shares valued at N24.7 million traded in 117 deals.
Great Nigeria Insurance
SHareholders of Great Nigeria Plc have approved the voluntary delisting of the company from the Nigerian Stock Exchange (NSE). SHareholders that wish to exit prior to the delisting can trade their shares in exchange for a consideration of N0.50 per share from the company,
This was the highest price the company had traded in the six months prior to the Extra Ordinary General Meeting/Annual General Meeting during which the delisting was approved.
Shareholders interested in the consideration have between July 25, 2018, and October 24, 2018, to accept the offer and send consideration election and acceptance forms to the registrar.
STACO Insurance Plc
The board of STACO Insurance Plc, in a notice sent to the Nigerian Stock Exchange, announced the dismissal of the company’s Chief Executive Officer (CEO) Sakiru Oyefeso. The move according to the statement was due to misappropriation, breach of office and abuse of corporate governance best practice.
Bayo Fakorede has been appointed as the new Chief Executive Officer, subject to approval by the National Insurance Commission (NAICOM).
Unity Kapital Assurance Plc
Unity Kapital Assurance Plc released its results for the year ended December 2017. Gross Premium Written increased from N2.1 billion in 2016 to N2.4 billion in 2017. The company made a loss before tax of N558 million in 2017 as against a profit before tax of N408 million in 2016.
It also made a loss after tax of N700 million in 2017 as against a profit after tax of N285 million made in the comparative period of 2016.
Ekocorp Plc released its results for the period ended March 2018. Turnover dropped from N367 million in 2017 to N362 million in 2018.
The company made a loss before tax of N66.5 million in 2018 as against a profit before tax of N56.2 million in the comparative period of 2017. Loss after tax stood at N66.5 million as against a profit after tax of N54.7 million made in 2017.