A series of notifications of share dealings by Insiders released by the United Bank of Africa (NSE Ticker: UBA) Plc to the Nigerian Stock Exchange (NSE) and the investing public on Wednesday 23 September, shows that several family members of Mr. Tony O. Elumelu, CON had bought thousands of shares of the bank on Tuesday 22 September.
Mr. Tony Elumelu, CON is the Chairman of the Board of Directors of the Bank and he has a direct holding of 190.100 million shares of UBA and an indirect holding of 2.114 billion shares of the bank as at 31 December, 2019.
His indirect shares are held by HH Capital limited (140.843 million), Heirs Holdings Limited (1.742 billion) and Heirs Alliance Limited (231.086 million) all as at 31 December, 2019. Heirs Holdings is the second highest shareholder of the bank, with 5.09% of it’s 34.199 billion outstanding shares, second only to Stanbic Nominees with 9.69%.
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A review of all notifications by Investogist shows the following transactions;
- Ugochukwu Elumelu, relative of the Board Chairman, bought 106,428 shares at N6.00 per share on Tuesday, Septeber 22, 2020 at the Lagos Nigeria Stock Exchange.
- Tony Onyekachukwu Elumelu, relative of the Board Chairman, bought 14,912 shares at N6.00 per share on Tuesday, Septeber 22, 2020 at the Lagos Nigeria Stock Exchange.
- Onyinye Elumelu, relative to the Board Chairman, bought 107,250 shares at N6.00 per share on Tuesday, Septeber 22, 2020 at the Lagos Nigeria Stock Exchange.
- Ogochukwu Elumelu, relative of the Board Chairman, bought 127,219 shares at N6.00 per share on Tuesday, Septeber 22, 2020 at the Lagos Nigeria Stock Exchange.
- Ogechukwu Elumelu, relative of the Board Chairman, bought 127,673 shares at N6.00 per share on Tuesday, Septeber 22, 2020 at the Lagos Nigeria Stock Exchange.
- Nneka Elumelu, relative of the Board Chairman, bought 106,464 shares at N6.00 per share on Tuesday, Septeber 22, 2020 at the Lagos Nigeria Stock Exchange.
- Awele Elumelu, relative of the Board Chairman, bought 156,097 shares at N5.99 per share on Tuesday, Septeber 22, 2020 at the Lagos Nigeria Stock Exchange.
- Tony O. Elumelu, CON, Board Chairman, bought 4,817,855 shares at N5.99 per share on Tuesday, Septeber 22, 2020 at the Lagos Nigeria Stock Exchange.
Mr. Tony Elumelu, CON, with his direct shares amounting to 190 million shares would be receiving an interim dividend of 17 kobo per share by the end of Wednesday, amounting to N29 million.
About the Company
United Bank for Africa Plc. (the “Group”) is a Nigerian registered company incorporated on 23 February 1961 to take over the business of British and French Bank Limited (BFB).
UBA listed its shares on the Nigerian Stock Exchange (NSE) in 1970 and became the first Nigerian bank to subsequently undertake an Initial Public Offering (IPO).
The company’s registered address is at 57 Marina, Lagos, Nigeria. The Bank and its subsidiaries are primarily involved in corporate, commercial and retail banking, trade services, cash management, treasury and custodial services.
Written by;
Nnamdi M.
