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By Goddy Egene Custodian Investment Plc is to make a mandatory takeover offer (MTO) to minority shares of UACN Property Development Company Plc (UPDC) following the approval given by the Securities and Exchange Commission (SEC) dated May 18, 2021. In notification to the Nigerian Exchange Limited (NGX) yesterday, Custodian Investment Plc said following the approval, it had been authorised to proceed with the MTO to be made to minority shareholders of UPDC for the purchase of up to 34,415,332 ordinary shares of 50 kobo shares at 90 kobo per share. Custodian Investment had last year completed acquisition of the 51 per cent majority equity stake in UPDC) Plc from UAC of Nigeria Plc. ....
Goddy Egene The nation’s stock market remained bearish last week leading to a decline of 0.15 per cent in the Nigerian Exchange Limited (NGX) All-Share Index to close at 38,808.01, while market capitalisation ended at N20.310 trillion. The market had similarly dipped the previous week. However, unlike two weeks ago when the volume and value of trading also decline, investors staked more funds last week. A total of 1.263 billion shares worth N10.759 billion were traded in 19,975 deals last week, up from 887.037 million shares valued at N9.193 billion that exchanged in 17,837 deals the preceding week. After the earning season and as the second quarter began recently, investors are said to be realigning their portfolio with eyes on yield movements in the fixed income (FI) market. Also, the nation’s subsisting stagflation environment remains a potent threat to investment returns in the financial market. ....
Custodian Investment profit balloons 111% as firm declares N2.6 bn dividend Custodian Investment board Monday announced a proposal of a final dividend of N0.45 per share for the 2020 financial year, having paid N0.10 interim dividend per share last year, which brings its total dividend payment to N0.55. ADVERTISEMENT Custodian Investment Plc said it recorded a profit jump of 111 per cent for 2020 even at a time turnover grew at a comparatively low rate of 22.2 per cent, underscoring the financial services group’s ability to cut spending in an effort to bolster profit by means other than growing revenue. Gross earnings climbed to N75.062 billion, representing a leap of N13.645 billion when set beside the 2019 figure of N61.417 billion, its audited financial statements obtained by PREMIUM TIMES from the Nigerian Stock Exchange website on Monday showed. ....
Shares edge up as consumer staples stocks gain ft.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ft.lk Daily Mail and Mail on Sunday newspapers.