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Business News

Portland Paints announces close period ahead of Q3 2019 results

The Board of Directors of Portland Paints and Products Nigeria Plc has declared a closed period from September 30, 2019.

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Portland Paints announces close period ahead of Q3 2019 results

The Board of Directors of Portland Paints and Products Nigeria Plc has announced that it will meet to consider the closed period of trading with effect from September 30, 2019, in respect of the company’s third-quarter financial statements.  

This was disclosed in a notification which was sent to the Nigerian Stock Exchange (NSE).   

Why this matters: The close period will allow the board to consider the company’s unaudited financial statements for the third quarter. Other company issues will also be discussed during the meetings.  

[READ MORE: Too early to dive into Portland Paints

What is a closed period?  

A close period is a period before the release of a company’s result or financial statement when of course, those with sensitive information are not allowed to trade on the stock. These individuals may include company directors, audit committee members, persons discharging managerial responsibility, employees and consultants with sensitive information. 

In June 2019, Portland Paints & Products Nigeria Plc appointed Mrs Bolarin Okunowo as a Non-Executive Director. Bolarin’s appointment followed Mrs Esosa Vanessa Balogun appointment as a Non-Executive Director in April 2019. 

Overview of Portland Paints and Products Nigeria Plc: Portland Paints and Products Nigeria Plc manufactures and sells paints. It operates through three segments: Portland Decorative Paints, Portland Marine, and Portland Bathroom. 

Deal book 300 x 250

The company offers decorative paints, including the Sandtex paints, Sandtex Biocote, an anti-microbial paint primarily for hospitals, clinics, primary health centres, laboratories, hotels, restaurants, colleges, universities and polytechnics, crèche and daycare centres, and kitchen, and Crown Trade professional coatings. 

[READ ALSO: Aso Savings, Evans, Multi-Trex, others in huge financial losses over compliance fines

It also provides Hempel marine/protective coatings for the oil and gas, power generation, infrastructure, and light industries; markets and distributes sanitary ware products primarily for homes, hotel, schools, factories, etc. The company also manufactures and markets instant road repair materials. The company was incorporated in 1985 and is headquartered in Lagos, Nigeria.   

 

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Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

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Corporate Press Releases

NSE to commemorate IWD 2021, host 7th Annual Ring the Bell for Gender Equality

NSE will join securities exchanges all over the world to commemorate International Women’s Day 2021.

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NSE prepares to launch West Africa’s first Exchange-traded derivatives

The Nigerian Stock Exchange (NSE or The Exchange) will join securities exchanges all over the world to commemorate International Women’s Day 2021 and host its 7th Annual Ring the Bell for Gender Equality on Monday, 8 March 2021.

In collaboration with Sustainable Stock Exchanges (SSE) Initiative, United Nations (UN) Women, United Nations Global Compact (UNGC) and International Finance Corporation (IFC), the event will hold virtually building on the global theme, #ChooseToChallenge and will culminate in a digital Closing Gong Ceremony. Members of the stockbroking community, analysts, regulators, media and other interested participants can register via the link: http://bit.ly/nse-iwd-2021

Consistent with The Exchange’s objectives to accelerate progress and impact on the advancement of women across all spheres of life, the event will feature discussions that highlight the business case to challenge the norm. Confirmed speakers at the event include, Otunba Abimbola Ogunbanjo, President, National Council, NSE; Mrs. Catherine Nwakaego Echeozo, 2nd Vice President, National Council, NSE; Mrs. Fatimah Bintah Bello–Ismail, Ordinary Member, National Council, NSE; Mrs. Erelu Angela Adebayo, Ordinary Member, National Council, NSE; Mrs. Opunimi Akinkugbe, Founder, Director, Bestman Games; Mr. Oscar N. Onyema, OON, Chief Executive Officer (CEO), NSE; Ms. Tinuade Awe, Executive Director, Regulation, NSE; Mr. Bola Adeeko, Divisional Head, Shared Services, NSE; Mr. Kevin Njiraini, Regional Director, Southern Africa & Nigeria, International Finance Corporation (IFC).

Others are Mrs. Oluwasoromidayo George, Chairperson, United Nations Global Compact (UNGC) Network Nigeria; Mr. Lansana Wonneh, United Nations (UN) Women Deputy Representative, Nigeria and ECOWAS; Mr. Patrick Akinwuntan, Managing Director/Regional Executive, Ecobank Nigeria; Ms. Ivana Osagie, Founder, Professional Women Roundtable (PWR); and Ms. Eme Esien Lore, Nigeria Country Manager, IFC.

The webinar will also feature a special focus on the peer-to-peer learning programme under the Nigeria2Equal programme, a three-year project towards which the IFC will collaborate with the NSE to reduce employment and entrepreneurship gaps in Nigeria through the private sector.

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Coronavirus

COVID-19: Dr Cyprian Ngon is first Nigerian to receive vaccine

Dr Cyprian Ngon has made history by becoming the first Nigeria to receive the COVID-19 vaccine in Nigeria.

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Dr Cyprian Ngon has made history by becoming the first Nigeria to receive the COVID-19 vaccine in Nigeria.

Dr Ngon led the first set of health workers including Nurse Faith E. Eragbai, Dr. Nuru Joseph and Dr. Thairu Yunusa to receive the vaccine at the flag-off ceremony for COVID-19 vaccination in Nigeria, which held on Friday, March 5, 2021 at the National Hospital Abuja.

Present at the ceremony is a host of dignitaries including; the Secretary to the Government of the Federation and Chairman, Presidential Task Force (PTF) on COVID-19, Mr Boss Mustapha, Director-General of the National Primary Health Care Development Agency (NPHCDA), Dr. Faisal Shuaib.

In case you missed it

  • The first batch of the COVAX Astrazeneca/Oxford vaccines arrived in Nigeria on Tuesday, March 2021 via the Nnamdi Azikiwe International Airport in Abuja.
  • Nairametrics reported that the Federal Government announced the President Muhammadu Buhari and Vice-President Yemi Osinbajo will receive shots of AstraZeneca/Oxford COVID-19 vaccines on Saturday to demonstrate vaccine safety to the public.
  • Last month during a PTF COVID-19 briefing Dr Faisal revealed plans by the National Primary Health Care Development Agency (NPHCDA) to vaccinate 109 million Nigerians in 2 years.

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