Tesla and Apple’s inventory fees are currently experiencing a large quantity of promoting pressures falling beneath their latest document excessive.
While the stocks of Apple plunged greater than 3% from its document excessive on Wednesday, Tesla additionally dropped over 11% of its inventory fee rapidly after the outlet of the U.S buying and selling session.
Both corporations have these days loved large profits following their maximum latest bulletins in their inventory splits, which changed into centered to draw greater retail investors.
Themoneymetrics approximately days in the past broke the information on each generation corporations having recorded spectacular profits in latest months, with Tesla advancing greater than 474% this yr and Apple gaining 76%.
Apple nonetheless stays the simplest publicly indexed U.S. agency with a marketplace capitalization of over $2 trillion, even as Tesla an electric powered automobile maker that pursuits to supply pretty much 1/2 of one million motors this yr has overtaken main groups which include Walmart Inc., Visa Inc., and Johnson & Johnson.
Tesla’s plunge nowadays changed into additionally precipitated while certainly considered one among its biggest outdoor shareholder Baillie Gifford decreased its function withinside the agency to much less than 5% from 6.3%.
In a statement, Baillie Gifford notwithstanding decreasing his Tesla’s inventory portfolio remained a long-time period believer in Elon Musk’s firm, and that the discount in possession in step with him changed into clearly because of portfolio limitation.
“The significant boom in Tesla’s percentage fee approach that we had to lessen our keeping so that it will replicate attention pointers which limition the burden of a unmarried inventory in clients’ portfolios,” Baillie Gifford’s James Anderson stated in a statement.
NB Plc to pay N5.52 billion dividend, says shareholders can receive new shares
The board of Nigerian Breweries Plc has proposed N5.52 billion as dividend to shareholders for 2020.
Nigerian Breweries Plc is set to reward shareholders of the company with N5.52 billion as dividend for the period ended 31st December 2020.
This is in line with the Board’s recommendation as the dividend is subject to the deduction of the appropriate withholding tax, and approval by shareholders of the company at the Annual General Meeting slated for 22nd of April 2021.
According to the notification issued by the Company Secretary, Uaboi G. Agbebaku, at the close of trading activities, the dividend declared by Nigerian Breweries on a per-share basis was pegged at 69 kobo per share. This puts the total dividend to be paid to shareholders at N5,517,862,415.19.
Shareholders can opt to receive new shares of the company
The Board of the Company however provided shareholders with the option to receive new shares of Nigerian Breweries, as Qualifying Shareholders have the right of election to receive new ordinary shares in the company instead of the final dividend in cash. This election is required to be made on or before the 10th of April, 2021.
In view of this, the Reference Share Price for the purpose of determining the number of shares due to Qualifying Shareholders who elect for the share option will be a ten-day trading average of the Company’s share price on the floor of The Nigerian Stock Exchange, starting on the 11th of March, 2021.
What you should know
- It is important to note that the dividend declared is subject to appropriate withholding tax and the approval of shareholders at the Brewer’s next Annual General Meeting.
- Qualifying Shareholders: The dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 10th of March, 2021.
- Payment Date: On the 23rd of April, 2021, the dividends will be paid electronically to Qualifying Shareholders
- To qualify for the dividend payment: Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend mandate Activation Form, which is available at, complete same and submit to the Registrar of their respective Banks.
SAHCO’s Chairman purchases additional shares worth N82 million
Taiwo Afolabi has increased his stakes in the aviation handling company.
Taiwo Afolabi, the Chairman of Skyway Aviation Handling Co. Plc (SAHCO), a subsidiary of the SIFAX Group, has increased his stakes in the aviation handling company with the purchase of 28 million additional shares of the company.
The total value of the shares of SAHCO Plc purchased by him is valued at N82 million.
This is according to a Notification of Share Dealing by an Insider, issued by the Company Secretary, Bello Omolara, and published on the website of the Nigerian Stock Exchange (NSE).
The disclosure which is compliant with NSE’s policy on insider dealing, revealed that Afolabi acquired the 28 million additional shares of the company in four deals on the floor of the Nigerian Stock Exchange, between the 23rd and 24th of December 2020.
The total consideration for the shares purchased by SAHCO’s Chairman between 23rd and 24th of December 2020 however is put at N82,040,000.00.
Why this matters
- Dealings by insiders of listed companies are corporate actions to be disclosed by the management of the company. This is in compliance with NSE’s policy on insider dealing, as the disclosure is key in the effort to ensure transparency and reinforce the trust of the investing public.
- The purchase of the shares of SAHCO Plc further cements the Chairman’s position as a substantial shareholder of the aviation handling company.
What you should Know
- SAHCO, formerly known as Skypower Aviation Handling Company Limited, was carved out of the defunct Nigeria Airways Limited, as part of the Nigerian Federal Ministry of Aviation’s Reform of 1996.
- On the 23rd of December 2009, the Federal Government of Nigeria handed the company over to the Sifax Group, after a well-contested open privatization bid in which Sifax Group came first as the preferred bidder with the sum of N5.52 billion.
- The company was subsequently listed on the Nigerian Stock Exchange on the 23rd of April 2019, and since then continues to maintain its status as a subsidiary of the SIFAX Group.
Briclinks Africa lists shares on NSE Growth Board
Briclinks Africa, a telco firm listed 10 million ordinary shares of N1.00 each at N6.26 per share on the NSE Growth Board.
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 Themoneymetrics.
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.
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