Nigerian stocks gain N961b in the last trading week of June

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The Nigerian Exchange (NGX) closed bullish as the All-Share Index appreciated by 2.98% to close at 60,968.27 in the week ended 30th June 2023.

The market opened for three trading days this week as the Federal Government of Nigeria declared Wednesday, June 28, and Thursday, June 29, 2023, as Public Holidays to commemorate the Eid-el Kabir celebration.

The Market Capitalization gained N961 billion during the week to close at N33.198 trillion as against N32.237 trillion recorded last week.

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The month-to-date performance of the Nigerian stock market is 9.32% while the year-to-date return is 18.96%.

Top Gainers & Losers for the Week

At the end of the week’s trading session, IKEJA HOTEL Plc was the top-performing stock as it gained 33.00%

TRANSCORP HOTELS (32.95%), ETERNA PLC, (32.49%), STERLING (30.74%), and CHAMS PLC (29.82%) rounded up the top 5 for the week.

For the top losers for the week, SECURE ELECTRONIC TECHNOLOGY PLC led the chart as it lost (-13.16%)

GUINEA INSURANCE PLC (-12.50%), UNIVERSAL INSURANCE PLC (-12.50%), SOVEREIGN TRUST INSURANCE PLC (-10.91%) and PHARMA-DEKO PLC. (-10.00%) completed the top 5 losers.

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AGM Watch

The following companies made announcements of their respective Annual General Meetings.

On Monday, John Holt Plc notified the Nigerian Exchange Limited (NGX) that their 61st Annual General Meeting earlier scheduled to hold on Wednesday, 28th of June, 2023, had been postponed to Thursday, 6th of July 2023 due to the public holiday of Wednesday 28th June, 2023.

Also on Monday, Secure Electronic Technology Plc announced that their 16th Annual General Meeting of the members will be held on Thursday, 3rd August 2023 at The Events Warehouse, Plot CDE Industrial Crescent, off Town Planning Way, Ilupeju, Lagos at noon.

On Tuesday, Prestige Assurance Plc announced a change in the date of their 53rd Annual General Meeting (AGM), which was scheduled for 28 June 2023. The new date is scheduled for Thursday, 20th July 2023 at 12.00-noon prompt, at the Agip Recital Hall, Muson Centre, No. 8/9 Marina, Onikan, Lagos State.

The company noted that the date change was necessitated due to the public holiday of Wednesday, 28th June 2023 to mark this year’s Muslim Eid-al-Maulud celebration.

On Friday, MRS Oil Nigeria Plc announced that its 54th Annual General Meeting will hold at the Federal Palace Hotel, Ahmadu Bello Way, Victoria Island, Lagos, Nigeria, on August 3rd, 2023 at 11:00 a.m.

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Also on Friday, Ikeja Hotel Plc announced that its 46th Annual General Meeting will hold at Sheraton Lagos Hotel, 30 Mobolaji Bank Anthony Way, Ikeja, on Wednesday, July 26, 2023, at 10:00 am.

Insider Trades Activities

During the week, directors of several companies bought shares.

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On Monday, UBA’s Group Managing Director, Mr Oliver Alawuba, acquired 35.34 million shares worth N405.105 million in the company.

With this latest acquisition, Alawuba has increased his total shareholding in UBA from 1,593,248 units of shares as of December 31, 2022, to N46,628,767 units.

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Also on Monday, Dr. Owen Omogiafo, President of Transcorp Group acquired an additional 15.18 million shares worth N47.7 million in the company.

The acquisition of 15.18 million shares represents 0.04% of the company’s total outstanding shares of the company.

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Stocks That Will Pay Dividends Next Week

The following stocks are set to pay dividends in the coming week.

AXA Mansard Plc is set to pay dividends on 4th July 2023. The shareholders who would receive dividends are those whose names are on the register as of the qualification date of 21st June 2023.

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The total dividends to be paid by AXA Mansard are N3.24 billion.

AXA Mansard ended the week trading at N3.95 per share with a market capitalization of N35.55 billion.

Beta Glass Plc is set to pay dividends on 7th July 2023. The shareholders who would receive dividends are those whose names are on the register as of the qualification date of 16th June 2023.

The total dividends to be paid by Beta Glass are N701.96 million.

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Beta Glass ended the week trading at N38.85 per share with a market capitalization of N23.31 billion.

www.nairametrics.com

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sanya-onayoade

Sanya Onayoade

Continental Editor, North America

SANYA ONAYOADE is a graduate of Mass Communication and a Master of Communication Arts degree holder from the University of Ibadan. He has attended local and international courses on Media, Branding, Public Relations and Corporate Governance in many institutions including the University of Pittsburgh; Reuters Foundation of Rhodes University, South Africa and Lagos Business School. He has worked in many newspaper houses including The Guardian and The Punch. He was the pioneer Corporate Affairs Manager of Odua Telecoms Ltd, and later Head of Business Development and Marketing of Nigerian Aviation Handling Company (NAHCO Plc).

He has led business teams to several countries in the US, Asia and Europe; and was part of an Aviation investment drive in West Africa. He has also driven media and brand consultancy for a few organizations such as the British Council, Industrial Training Fund, PKF Audit/Accounting Firm and Nigeria Stability and Reconciliation Programme. He is a Fellow of Freedom House, Washington DC, and also Fellow of Institute of Brand Management of Nigeria. Sanya is a member of Nigerian Institute of Public Relations (NIPR), Advertising Practitioners Council of Nigeria (APCON) and Project Management Institute (PMI). He is a 1998 Commonwealth Media Awards winner and the Author of A Decade Of Democracy.
Morak Babajide-Alabi

Morak Babajide-Alabi

Continental Editor, Europe

Morak Babajide-Alabi is a graduate of Mass Communication with a Master of Arts Degree in Journalism from Napier University, Edinburgh, United Kingdom. He is an experienced Social Media practitioner with a strong passion for connecting with customers of brands.

Morak works as part of a team currently building an e-commerce project for the Volkswagen Group UK. Before this, he worked on the social media accounts of SKODA, Audi, SEAT, CUPRA, Volkswagen Passenger Cars, and Volkswagen Commercial Vehicles. In this job, he brought his vast experience in journalism, marketing, and search engine optimisation to play to make sure the brands are well represented on social media. He monitored the performance of marketing campaigns and data analysis of all volumes of social media interaction for the brands.

In his private capacity, Morak is the Chief Operating Officer of Syllable Media Limited, an England-based marketing agency with head office in Leeds, West Yorkshire. The agency handles briefs such as creative writing, ghostwriting, website designs, and print and broadcast productions, with an emphasis on search engine optimisation. Syllable Media analyses, reviews, and works alongside clients to maximise returns on their businesses.

Morak is a writer, blogger, journalist, and social media “enthusiast”. He has several publications and projects to his credit with over 20 years of experience writing and editing for print and online media in Nigeria and the United Kingdom.

Morak is a dependable team player who succeeds in a high-pressure environment. He started his professional career with the flagship of Nigerian journalism – The Guardian Newspapers in 1992 where he honed his writing and editing skills before joining TELL Magazine. He has edited, reported for, and produced newspapers and magazines in Nigeria and the United Kingdom. Morak is involved in the development of information management tools for the healthcare sector in Africa. He is on the board of DeMiTAG HealthConcepts Limited, a company with branches in London, Lagos, and Abuja, to make healthcare information available at the fingertips of professionals. DeMiTAG HealthConcepts Limited achieved this by collaborating with notable informatics companies. It had partnered in the past with Avia Informatics Plc and i2i TeleSolutions Pvt.

Out of work, Morak loves walking and also volunteers on the board of a few UK Charity Organisations. He can be reached via http://www.syllablemedia.com
Ademola-Akinbola

Ademola Akinbola

Publisher/Editor-in-Chief

Brief Profile of Ademola Akinbola

Ademola AKINBOLA is an author, publisher, trainer, digital marketing strategist, and a brand development specialist with nearly three decades of experience in the areas of branding, communication, corporate reputation management, business development, organizational change management, and digital marketing.

He is the Founder and Head Steward at BrandStewards Limited, a brand and reputation management consultancy. He is also the Publisher of The Podium International Magazine, Ile-Oluji Times, and Who’s Who in Ile-Oluji.

He had a successful media practice at The Guardian, Punch and This Day.

He started his brand management career at Owena Bank as Media Relations Manager before joining Prudent Bank (now Polaris Bank) as the pioneer Head of Corporate Affairs.

The British Council appointed him as Head of Communication and Marketing to co-ordinate branding and reputation management activities at its Lagos, Abuja, Kano and Port Harcourt offices.

In 2007, he was recruited as the Head of Corporate Planning and Strategy for the Nigerian Aviation Handling company. He led on the branding, strategic planning and stakeholder management support function.

His job was later expanded and redesigned as Head of Corporate Communication and Business Development with the mandate to continue to execute the Board’s vision in the areas of Corporate Planning and Strategy, Branding and New Businesses.

In 2010, he voluntarily resigned from nacho aviance to focus on managing BrandStewards, a reputation and brand management firm he established in 2003. BrandStewards has successfully executed branding, re-branding and marketing communication projects for clients in the private and public sectors.

Ademola obtained a M.Sc. Degree in Digital Marketing & Web Analytics from Dublin Institute of Technology in 2016, and the Master of Communication Arts degree of the University of Ibadan in 1997. He had previously obtained a Higher National Diploma (with Upper Credit) in Mass Communication from Ogun State Polytechnic, Abeokuta.

He has published several articles and authored five management books.

He has benefitted from several domestic and international training programmes on Brand Management, Corporate Communications, Change Management and Organizational Strategy.
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