Emmanuel Nnorom, Non Executive Director at United Capital Plc (NSE – UCAP), has increased his indirect holding in the company via the acquisition of 500,000 units of ordinary shares of UCAP through Vine Foods Limited 2. This was disclosed in a notification of share dealing by insiders filed by United Capital Plc to the Nigerian Stock Exchange.
According to the filing, the transaction took place on 2 November. The 500,000 units of shares were purchased at N4.12 per share, which will amount to N2.060 million total value.
As at 31 December 2019, Emmanuel had an indirect holding of 21,081,247 units of shares in United Capital. If held unchanged, the recent purchase will increase his holdings to 21,581,247 units of shares
In another transaction that also occurred on 2 November, Sunny Anene, Group Executive Director at United Capital acquired 558,754 units of the company shares at N4.08 per share. This is according to another notification of share dealing by insiders filed by the company to the Exchange. The total value of the transaction amounted to N2.28 million.
As at 31 December 2019, Anene had a direct holding of 1,000,000 units of shares in United Capital. If held unchanged the recent acquisition increases his stake to 1,558,754.
UCAP reported an increase in both gross earnings and the profit after taxation for the first nine months of the year, for the period ended 30 September 2020 with the managed fund increasing by 73.73%.
Read more; Q3 2020: United Capital Plc grows profit by 26% as the managed fund soared by 74%
About the company
United Capital Plc (previously called UBA Capital Plc) was incorporated in Nigeria, as a Public liability company, on 3 August 2012, to act as the ultimate holding company for the United Capital Group. The company was listed on the Nigerian Stock exchange on 17 January 2013. The Company changed its name to United Capital Plc following the approval of the resolution by shareholders on the 16th December 2014. The principal activities of the Group are mainly the provision of investment banking services, portfolio management services, securities trading, and trusteeship.
At the close of trading on Wednesday, UCAP lost 0.74% to close at N4.04 per share. YTD the share price is up by 68.33%. The 52 week high and low prices are N4.07 and N1.90 per share respectively.
By; Ifunanya ikueze
