September 23, 2008
First Inland Bank now FIN Bank...
First Inland Bank Plc, yesterday at a media briefing, assumed its new corporate identity of Fin Bank Plc, it also unveiled its regional business expansion plan under its comprehensive expansion and re-branding programme. As part of its plans to acquire assets across the continent; the bank recently acquired Arab Gambia Islamic Bank (AGIB), based in Banjul, Gambia.
Food Emporium PP...
Food Emporium International limited owners of Barcelos, is shopping for fresh funds of N750 million to finance its expansion plans through private placement of 300 million Ordinary Shares of 50 kobo each at N2.50 per share.
September 19, 2008
Crusader to pay dividend…
The Group Chief Executive of Crusader Nigeria Plc, Mr. Olutola Mobolurin, speaking at a press briefing said that subscribers to its ongoing rights issue would be beneficiaries of the 2008 financial year's dividend. "Those buying the right will benefit from the 2008 financial year. So it is issued cum-dividend." On the N4 billion convertible debenture stock, Mobolurin said it is a way to hedge against the current happenings in the stock market where the price of equities keeps crawling.
AFROIL gets new board, to pay dividend in 2009...
At the company’s recent extraordinary general meeting, shareholders approved the special resolution to consolidate the company’s share capital of N65million dividend into 325million ordinary shares of 20kobo each to 130million ordinary shares of 50kobo each ranking equally in rights as contained in company’s Articles of Association. Its shareholders fund is currently over N300m while turnover as at June 30 2008 stood at N200m.
September 18, 2008
NSE delists 10 more stocks…
The following companies have been delisted from the daily official list. The stocks are Acen Insurance, Amicable Assurance , Baico Insurance , Atlas Nigeria Plc , Ceramics Manufacturing Plc , Beverages (WA) Plc , Enpee Nigeria Plc, Tate Industries , Maureen Laboratories , Rietzcot Nigeria Plc.
Ecobank reconstructs shares…
EcoBank announced its decision to reconstruct its shares in the ratio of 1 for 3 (i.e. one new share replacing every three previously held). This was decided at the company's AGM held in May and to give effect to this decision, the shares of the company will be placed on full suspension on Monday the 22nd of September. The outstanding shares of the company are currently 21,654,226,926 units which will now reduce to 7,218,075,642 units.
Afribank marked down for Bonus…
Earlier this morning AFRIBANK was marked down for a dividend of N0.50K and a bonus issue of 1 for 3. Similarly, FTN Cocoa was marked down for a dividend of N0.025k and a bonus issue of 1 for 3.
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