Briclinks Africa Plc, a telecommunication company, has been admitted to the Growth Board of the Nigerian Stock Exchange. This is according to a disclosure published on the website of the NSE and seen by Nairametrics.
The telco was admitted in a listing by the introduction of 10 million ordinary shares of N1.00 each at N6.26 per share on Friday, 5th February 2021.
According to the disclosure, the listing was commemorated with a digital Closing Gong ceremony where the day’s trading was brought to an end by the CEO of Briclinks Africa, Mr. Mohammed Buhari.
What they are saying
The CEO of NSE, Mr. Oscar N. Onyema while commenting on the listing, stated that “We are delighted to welcome Briclinks Africa Plc to The Exchange. This listing is a milestone in our desire to accommodate Small and Medium-sized Enterprises (SMEs) that hitherto have been underrepresented in public markets.”
He also added that “It is indeed a critical step in the NSE’s efforts towards greater representation of growth companies on the bourse. With this listing, we encourage Briclinks Africa Plc, as it commences life as a publicly quoted company, to continue to abide by its post-listing obligations whilst striving for transparency as this would ultimately create value for shareholders.”
Also, the Chief Executive Officer of Briclinks Africa, Mr. Mohammed Buhari stated that, “It is with great pleasure that we at Briclinks Africa Plc attend this special event to mark our listing on the Growth Board of the NSE. We have dreamt about this day and worked towards it with effervescence right from the moment we decided to be listed on the NSE about 17 months ago.”
“We have from this process emerged as a better entity, well-tuned to corporate best practices and culture. We would like at this point to thank our Financial Advisers to the listing, Afrinvest Securities, and the NSE team for their untiring support and guidance in making this day a reality.” he continued.
What you should know
- It is worth noting that the Nigerian Stock Exchange launched the Growth Board in January 2020, with the aim of encouraging companies with high growth potential to seize the opportunity of raising long term capital and promote liquidity in the trading of shares.
- Briclinks Africa will join the likes of McNichols Plc, Living Trust Mortgage Bank Plc, Chellarams Plc, and The Initiates Plc on the Growth Board.
CBO Capital Partners, Blackman & Co. move to sell 25% of shares held in Ellah Lakes
Substantial shareholders of Ellah Lakes have resolved to sell 25% of their stakes in the company.
Ellah Lakes Nigeria Plc has announced plans to sell down a fraction of its shares held by substantial shareholders of the company
The company made this announcement via a press statement published on the website of the Nigerian Stock Exchange.
The statement revealed that three major shareholders of the company have each undertaken to sell down 25% of their shares held in Ellah Lakes on or before the 15th of March, 2021.
In 2019, following the acquisition of Telluria, the free float of Ellah Lakes was reduced to 13% as the majority of the company’s shares were consolidated. However, the free float of the company currently stands at 14.55%, below the regulatory threshold of 20%.
In a bid to bring the Company into compliance with the 20% free float requirements of the Nigerian Stock Exchange, CBO Capital Partners, Blackman & Co, Osaro Oyegun who are substantial shareholders of Ellah lakes have resolved to sell down 25% of their holdings in the company.
Noting that the decision will help to put more shares of the company in the hands of the public, and resolve the lack of liquidity in the shares of Ellah lakes.
What they are saying
While speaking on this development the CEO of Ellah Lakes Plc, Chuka Mordi explained that the company needs to have more of its shares in the hands of the public, which is one of the reasons why Ellah Lakes is a publicly listed company.
He said: “We are working towards compliance, and we fully expect that we can achieve this by the deadline of 15th March 2021, so as to galvanize and encourage liquidity in the shares of Ellah lakes Plc.”
What you should know
- CBO Capital Partners Limited and Blackman & Co. Limited who are substantial shareholders with more than 15% stakes in Ellah Lakes Plc recently acquired additional shares of the company.
- Ellah lakes maintain a free float rate of 14.55%.
- According to figures contained in the Company’s 2020 Annual report, CBO Capital and Blackman & Co. Limited held 28.20% and 16.92% of the issued share capital of the company respectively, as of 31st July 2020.
- While Enotie Ogbebor and Osaro Oyegun, who are both directors in the company held 18.8% and 4.7% of the company’s shares respectively.
United Capital Executive Director acquires 2 million additional shares worth N12.4 million
An Executive Director of United Capital Plc has purchased additional units of its shares worth N12.4 million.
United Capital Plc has notified the Nigerian Stock Exchange that one of its Executive Directors, Sunday Anene has acquired 2,000,000 additional units of its shares, worth N12.4 million.
In line with the Nigerian Stock Exchange policy on insider dealing, the formal disclosure was made by the company’s secretary, Leo Okafor.
According to the disclosure, the recent deal which took place on the 24th of February, 2021, saw Mr Anene purchase 2,000,000 additional units of the firm’s shares at N6.20 per unit, totalling N12.4 million.
Meanwhile, United Capital Plc share price currently trades at N6.24 on the floor of the Nigerian Stock Exchange.
Results from its recently released FY 2020 financials showed a 57% increase in Profit After Tax, from N4.97 billion to N7.81 billion.
Other key financial metrics recorded impressive growth, part of which played an underlying role in the declaration of a total dividend of N4.2 billion- a major improvement of about 40% when compared to 2019 figures.
What you should know
- Mr Anene had in November 2020, spent the sum of N3.75 million on additional 915,574 units of the firm’s shares.
- United Capital Plc is a Nigeria-based financial and investment services company, offering a wide array of services like investment banking, portfolio management, securities trading and trusteeship etc.
Nairametrics | Company Earnings
- 2020 FY: Zenith Bank post N230.6 billion profit after tax
Zenith Bank Plc released its […]
- Mutual Benefits Assurance Plc boosts post tax profits by 25.9%
Mutual Benefits Assurance Plc released […]
- 2020 FY Results: Prestige Assurance Plc reports a 50.44% increase in profit.
Prestige Assurance Plc released its […]
- John Holt falls deeper into losses
John Holt Plc released its […]
- Sales volumes crash for Northern Nigeria Flour Mills Plc
Northern Nigeria Flour Mills Plc […]