United Capital Plc has notified the Nigerian Stock Exchange that its Group Executive Director, Sunday Anene, and other shareholders of the company have acquired over 3.5 million units of United Capital Plc shares, worth ₦14.4 million.
The formal disclosure was made by the Company Secretary, Leo Okafor, which is in line with the Nigerian Stock Exchange’s policy on insider dealing.
According to the disclosure, Sunday Anene purchased 915,574 additional units of United Capital shares, worth ₦3,746,246.52 in two transactions.
In similar disclosures signed by the company’s Secretary, the following shareholders purchased the shares of the company:
- Mr Peter Ashade of Artol Investment Company Limited purchased 2,100,000 units worth ₦8,548,800.00, spread over two deals.
- Emanuel Nnorom of Vine foods Limited bought 500,000 units of United Capital shares at N4.12 per share.
- However, the purchase consideration for the 3,515,574 units of United Capital shares purchased by the Group Executive Officer and other related parties is put at ₦14,355,046.52. This further cements their position as major shareholders in the company.
Why this matters
Dealings by insiders of listed companies is a regulatory disclosure required by the Nigerian Stock Exchange, which enhances transparency.