Flour Mills Vice-Chairman, Chief Emmanuel Ukpabi, has acquired 120,448 additional units of the company’s shares.
This was stated in a notification sent to the Nigerian Stock Exchange from Flour Mills of Nigeria Plc.
In line with the policy of the Nigerian Stock Exchange on insider dealing, the formal disclosure was made by the Company Secretary of the bank, Mr Umolu Joseph.
According to the disclosure, Chief Ukpabi purchased 120,448 additional units of the company’s shares at ₦27.6 per units on November 5, 2020.
This put the consideration for the additional shares bought by Chief Ukpabi at ₦3.32 million.
Why this matters
Dealings by insiders of listed companies are corporate actions to be disclosed, as required by the Nigerian Stock Exchange, which aids transparency.