Nigerian Aviation Handling Company Plc (NAHCO Aviance)has notified the Nigerian Exchange Group Limited that Mr. Akinwumi Godson Fanimokun, a Non-Executive Director in the firm, has acquired 2,926,410 additional units of its shares, worth ₦7.94 million.
This was revealed by the company’s secretary, Bello Abdullahi, in two separate disclosures made available on the website of the Nigerian Exchange Limited (NGX).
Details: In the first notice, Mr. Fanimokun spent a total of N3, 539,096.80 to acquire additional 1,416,410 units of the firm’s shares. The deal took place on the floor of the NGX in Lagos, between 9th and 10th of August, 2021.
Similarly, the details contained in the second notice uploaded on the website of the NGX revealed that the aforementioned director purchased additional 1,510,000 units of the firm’s shares for a sum of N4, 402,500.91. The deal was executed on the 13th, 14th and 16th of September, 2021.
Cumulatively, a total sum of N7, 941,597.71 was spent by the director to purchase an additional 2,926,410 units of the firm’s shares.
It is imperative to note that the disclosure is in line with the statutory requirements specified by the Exchange and needed to entrench transparency and confidence in the system. Trade by insiders, particularly purchases, often demonstrates confidence in the financial performance of the companies that they run.
What you should know:
As at June 2021, Mr. Akinwumi Godson Fanimokun holds about 2,000,000 units of NAHCO Aviance Plc shares, translating to about 0.123% of the total shareholding in the company. The recent addition thereby raises his total shareholdings to 4,926,410 units.
NAHCO Aviance Plc’s share is currently trading at N3.12 on the floor of the Nigerian Exchange Limited (NGX).