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Camey & Rock executes N4.3 billion worth of share purchase agreement with Resort Savings and Loans

Camey & Rock Business Consulting executes a share purchase agreement with Resort Savings and Loans Plc, worth N4.3 billion.



Rock savings raises N4.3 billion, as Camey and Rock acquire majority shares  

Camey & Rock Business Consulting Limited has finally executed its share purchase agreement with the board of Resort Savings and Loans Plc, worth N4.3 billion.

This is according to a notification sent by the latter to the Nigerian Stock Exchange market yesterday and seen by Nairametrics.

The cash involved in the deal is scheduled to be injected in tranches. Also, activities related to the transactions are still ongoing.

In order to resolve some administrative and basic regulatory issues, Camey & Rock called for an extension from CBN to enable it conclude the recapitalization exercise of the bank outside the deadline of 31 December 2020 to 30 June 2021.

The call comes at a time when the investors plan to inject the next tranche of cash into the bank.


The notification also revealed that the investors (Camey & Rock) have so far, assisted in motivating staff resolution and arrangement of some critical financial obligations, towards the filing of outstanding financial statements and relocation of the bank’s head office to 12, Boyle Street, Lagos.

What they are saying: A part of the recent disclosure reads: “The Board of Resort Savings and Loans Plc (the bank) wishes to notify the Nigerian Stock Exchange and investing public on the updates on the Bank’s recapitalization exercise.

“The Bank has executed a Share Purchase Agreement with Camey & Rock Business Consulting Limited (Camey & Rock or the investor) to the tune of N4.3billion, following Camey & Rock’s strategic equity investment in the Bank. The cash will be injected into the Bank in tranches.”

Why it matters: The recent announcement will help recapitalize the bank. In addition, the board and management firmly believe that the strategic investment will change the face of the bank, repositioning it in the committee of financial services providers in Nigeria, and grow its capacity with consequent effect in increasing the wealth of stakeholders.

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Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

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Stock Market

United Capital Plc CEO purchases additional 1.5 million shares worth N8.03 million

Mr. Ashade has spent the sum of N8.03 million on the purchase of additional 1.5 million shares United Capital Plc.



Commercial paper, United Capital Asset Management explains mutual funds’ positive performance

The CEO of United Capital Plc, Mr. Peter Ashade has maintained a 3-month buying streak, acquiring an additional 1.52 million units of the firm’s shares worth N8.03 million.

This is according to a recent notification signed by the firm’s secretary, Leo Okafor and forwarded to the Nigerian Stock Exchange market today, as seen by Nairametrics.

The recent transaction which took place on January 20, 2021 saw the United Capital boss purchase an additional 1,515,092 units of the firm’s share at N5.30 per unit, totalling N8,029,987.60.

Nairametrics gathered that the recent transaction will raise the total number of shares purchased by the CEO in the last three months by an additional 4,669,387 units.

What you should know:

  • Nairametrics earlier reported the purchase of an additional 1.28 million units of United Capital Plc shares by its CEO, Peter Ashade and the CFO.
  • Ashade had earlier purchased an additional one million units of the company’s shares, worth N5.17 million.
  • As at the time of reporting this, United Capital Plc share price ended trading at N5.39, down by 0.19%.
  • The report of the recent transaction is in line with NSE policy on insider transactions.

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Stock Market

Lafarge gains N111.1 billion on NSE in 14 trading sessions

The cement manufacturer gained an additional N1.45, thus extending year-to-date gains on the NSE to N111.1 billion.



Lafarge Africa, Lafarge dismisses Alleged SEC probe 

Lafarge Africa Plc continues the streak of gains on the Nigerian Stock Exchange (NSE) today, as shares of the cement manufacturer gained an additional N1.45, thus extending year-to-date gains on the NSE to N111.1 billion.

This was uncovered by Nairametrics after tracking the performance of the shares of the company on the floor of the Nigerian Stock Exchange, from the open of trade on the 4th of January 2021, till the close of trade today on The Exchange.

A preview of the performance of the cement manufacturer on NSE revealed that the shares of the company which opened trading activities this year at N21.05 per share have rallied by 32.78% at the back of renewed investors’ buying interests, to set a 52-week record high price N27.95 at the end of today’s trading session.

Checks by Nairametrics revealed that Lafarge has gained N111.1 billion on NSE this year, as investors continue to bid the shares of the company higher, owing to the robust valuations of the company and its fundamental strength which has made the company investors’ delight at the current price.


It is important to note that the buying interest in Lafarge shares saw the market capitalization of the company increase from N339.1 billion to N450.2 billion alone this year.

What you should know

  • At the end of today’s trading session, Lafarge gained an additional N1.45 per share, which translates to 5.47% increase, thus driving the shares of the company to close at a record 52-Week high price of N27.95, with 22.65 million shares of the company worth over N620.53 million, exchanged in 439 deals.
  • Nairametrics reported that the Board of Lafarge Africa Plc resolved to sell off its 35% shareholding in Continental Blue Investment Ghana Limited, in order to cut down on costs impacting the Group’s profitability.

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Spotlight Stories

CADBURY, GUINNESS plunge amid profit-taking at Nigeria’s stock market

With 50 losers to 14 gainers, sectoral indices closed mostly negative, as the NSE Insurance Index led the decliners with 6.70%.



Nigerian stocks ended the fourth trading session on a bearish note. The All Share Index closed south, dropping by 0.12% to close at 41,099.15 index points.

Year-to-date return and market capitalization settled at 2.06%, and N21.49 trillion respectively.

  • A total volume of 1.12 billion units of shares, valued at N6.39 billion exchanged hands in 7,404 deals. TRANSCORP (-9.38%) finished the most traded shares by volume, while GUARANTY (-0.15%) topped by value at N2.04 billion.
  • With 50 losers to 14 gainers, sectoral indices closed mostly negative. The NSE Insurance Index led the decliners with 6.70%.
  • The NSE Consumer Goods and Banking Indexes trailed distantly, down by -0.30% and -0.23% respectively.
  • On the flip side, the NSE Industrial & Energy Indexes advanced marginally by +0.27% and +0.15% respectively.

Top gainers

  1. NNFM up 10.00% to close at N9.68
  2. CHAMPION up 9.88% to close at N1.78
  3. NCR up 9.65% to close at N2.84
  4. WAPCO up 5.47% to close at N27.95
  5. ARDOVA up 3.54% to close at N20.45

Top losers

  • MRS down 9.82% to close at N12.4
  • CADBURY down 9.72% to close at N9.75
  • FLOURMILL down 2.77% to close at N31.6
  • GUINNESS down 2.37% to close at N18.5
  • DANGCEM down 0.21% to close at N234



Nigerian stocks ended the last trading session of the week on a negative note amid soaring oil prices prevailing at the U.S trading session.

  • The market struggled to close in the positive territory as profit-taking was seen on stocks across the board.
  • Nairametrics expects you to seek the advice of a certified stockbroker or financial advisor in choosing stocks to buy, as some Nigerian stocks exhibit cyclic return.

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