Another Fidelity Bank Non-Executive Director purchases 1 million shares worth N2.75million

0 12

The largest consumer goods company on the Nigerian Stock Exchange (NSE), Nestlé Nigeria Plc, has notified the Exchange that Nestlé S.A.- its parent company, has acquired 331,045 additional units of its ordinary shares, worth ₦463.46 million over two transactions in a week.

The formal disclosure was made by the Company’s Secretary, Bode Ayeku.

READ: Union Bank Nigeria Plc posts N15.9 billion profit in 9M 2020, up by 2%

Mr. Ayeku revealed that Nestlé S.A acquired the additional 331,045 units of Nestlé Nigeria Plc shares over two transactions, at an average share price of ₦1400 per share.

This put the total consideration for the shares purchased by the parent company at ₦463,463,000.00.

<!–

onebank728 x 90

–>

GTBank 728 x 90GTBank 728 x 90

READ: May &amp; Baker Nigeria Plc records 8.85% revenue increase in 2020 9M

What this means

The purchase of the shares of Nestlé Nigeria further cements Nestlé S.A’s position as the majority shareholder of the company.

In line with the information contained in the financial statements of the company as of 30th September 2020, the company had exactly 792,656,252 shares outstanding, with Nestlé S.A being the majority shareholder with 525,537,201 units – 66.30% of the total shares of the company outstanding.


<!– /21634543682/234989245

–>

Coronation adsCoronation ads

READ: MTN Nigeria, Ecobank, Dangote tumble, Bears take a grip on Nigerian Stocks

Hence, with the previous purchase of 214,924 additional units on November 10 and the recent 331,045 units acquired by the parent company, Nestlé S.A’s ownership percentage of Nestlé Nigeria is now put at 66.37%.

READ: Dangote Cement gains ₦273 billion on NSE since release of its 2020 Q3 report

Why it matters

Dealings by insiders of listed companies are corporate actions to be disclosed, as required by the Nigerian Stock Exchange to aid transparency.

READ: Dangote Cement Plc records 34.20% increase in 2020 Q3 revenues

<!– /21634543682/Zenith_Bank 320×100

Zenith bank | USSD codeZenith bank | USSD code

UCAP adsUCAP ads

UBA ADSUBA ADS

–>

Jaiz bank adsJaiz bank ads

What you should know

Nestlé Nigeria’s shares closed the week at the end of trading activities on the Nigerian Stock Exchange, November 20, 2020, at ₦1400.00 per share, with a 52-week low of ₦764.90.

<!– /21634543682/23188292 Coronation research 250×250

–>

<!– /21634543682/23188292

PatriciaPatricia

–>

<!–

first bankfirst bank

–>

<!–

Fidelity adsFidelity ads

–>

Stanbic IBTC Stanbic IBTC

Click here for the Source

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More