Adtec Ltd, a company related to Dr Gilbert Obiajulu Uzodike recently sold 5,720,564 shares of Cutix Plc (NGX: CUTIX). The information was contained in four notifications of share dealings by an Insider published to The Nigerian Exchange.
Dr. (Engr.) Gilbert Obiajulu Uzodike established Cutix Plc on Novermber 4, 1982 as a Private Limited Company manufacturing cables and wires.
Prior to CUTIX, Dr. Gilbert incorporated Adtec Ltd, a venture capital and management firm in 1978. Adtec Ltd started two projects as separate divisions in 1982, its cable division later became Cutix Ltd with a start-up capital of N400,000.00.
The first batch of the Share sales was on 15th, 16th, 21st, 22nd, and 23rd December 2021. An aggregate volume of 3,131,310 shares were sold at an average price of N2.55. The shares were worth worth N7,984,840.50.
The second batch of the Share sales was on 24th, 29th, and 30th December 2021. An aggregate volume of 843,254 shares were sold at an average price of N2.59. The shares were worth worth N2,184,027.86.
The third batch of the Share sales was on 31st December and 4th January 2022. An aggregate volume of 1,046,000 shares were sold at an average price of N2.65. The shares were worth worth N2,771,900.00.
The fourth batch of the Share sales was on 5th January 2022. An aggregate volume of 700,000 shares were sold at an average price of N2.65. The shares were worth worth N1,855,000.00.
CUTIX has 3.52 billion outstanding shares, and a market capitalization of N9.22 billion.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
