Unilever Nigeria Plc (NSE Ticker: Unilever) has given notice of its closed period. This was contained in a notification seen by Investogist, signed by Abidemi Ademola (Mrs), General Counsel & Company Secretary.
“We hereby give the Nigerian Stock Exchange and the investing public notice of the Closed Period for Unilever Nigeria Plc. from Monday 5 October, 2020 until Monday 26 October, 2020 or 24 hours after filing of the Unaudited Interim Financial Statements for Quarter ended 30 September 2020, whichever is earlier” – UNILEVER.
UNILVER also stated that all insiders will be duly informed.
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The closed period is the time between the completion of a listed company’s financial results and the announcing of these results to the public.
It is typically regarded as the one-month period preceding the release of a company’s quarterly results, and the two-month period before the release of its annual results.
According to Rule 17.17 of the Nigerian Stock Exchange Rule Book, “no Director, person discharging managerial responsibility and Adviser of the Issuer and their connected persons shall deal in the securities of the Issuer when the trading window is closed. Any period during which trading is restricted shall be termed as a closed period.”
Rule 17:18 (b) mandates all issuers to notify The Exchange in advance of the commencement of each closed period.
About the Company
Unilever Nigeria Plc. is incorporated in Nigeria as a public limited liability company under the Companies and Allied Matters Act (CAP C20) Laws of the Federation of Nigeria, 2004 and is domiciled in Nigeria.
The company’s shares are listed on the Nigerian Stock Exchange (NSE).
The company is principally involved in the manufacture and marketing of Foods and refreshments, Home care and Beauty and personal care products. It has manufacturing sites in Oregun, Lagos State and Agbara, Ogun State.
The company has 5,745,005,417 outstanding shares and a market capitalization of N78.132 billion.
UNILEVER suffered tremendous decline in its business in H1 2020, as the Covid-19 pandemic exacerbated an already bad business environment for the company.
Its revenue went down from N23.421 billion in H1 2019 to N14.008 billion in H1 2020. It recorded a loss of N1.633 billion for the period, a reversal from the N1.994 billion profit recorded for the same period in the preceding year.
We expect the 9 months financial statement to follow the same path as H1. We have a NEUTRAL rating for the stock.