Zenith Bank Executive Director splashes N52.1 million on further 2 million shares

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Zenith Bank Plc has notified the Nigerian Stock Exchange that certainly one of its Executive Directors, Dennis Olisa has bought 2,000,000 further models of its shares, value a cumulative whole of N52.1 million.

This is according to a current disclosure which is in step with the Nigerian Stock Exchange coverage on insider buying and selling, signed by the Bank’s secretary, Michael Osilama Otu.

According to the discover, the transaction which was effected on the twenty fourth of February, 2021 occurred in two tranches with a median value of N26.79. The breakdown of the transaction contains;

  • In the primary tranche, 1,000,000 models of the agency’s share have been bought at N26.60, implying {that a} whole of N26.6 million was spent at this stage.
  • In the final tranche, a complete of 1,000,000 models have been bought at N26.50, implying {that a} whole of N26.5 million was spent at this stage.
  • Collectively, this places the overall financial worth of the transactions and quantity at N52.1 million and a couple of million shares collectively.

Recall that Zenith Bank Plc had earlier posted a powerful monetary statement for the 12 months ended 2020, recording a Profit After Tax of N230.6 billion (+10.4% YoY). Other key monetary metrics additionally recorded a surge, a part of which led to a declaration of a ultimate dividend of N84.8 billion to shareholders.

What it’s best to know

  • It is pertinent to notice that the current transaction raised the overall variety of direct shares held by Mr Olisa from 10,122,316 models to 12,122,316 units- indicating a rise of 19.8%.
  • Mr Dennis Olisa has been a member of Zenith Bank’s Board since March 2017, when he was appointed as Executive Director.
  • As on the time of reporting this, Zenith financial institution closed trading with a share value of N25.80.

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