The raw material warehouse of Neimeth International Pharmaceuticals Plc. located on Billings Way, Oregun, Ikeja, Lagos was engulfed in an inferno last Tuesday, 7th March, 2017 which consumed the entire stock of raw materials in the facility.
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R.T. BRISCOE (NIGERIA) PLC – Delay in Release of 2016 Financials
R.T. Briscoe (Nigeria) Plc. has announced that the release of its 2016 Audited Financials may be delayed beyond the limit specified by the rules of the Nigerian Stock Exchange. The delay arose due to a possible “Emphasis of Matter” which may be included in the Audit Opinion by the Company’s Auditors. This would require that the financials be referred to the Financial Reporting Council of Nigeria before its release.
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The Board of Directors of GSK, at its meeting of 9th March, 2017, accepted the resignation of Mr. Jonathan Girling and Mr. Cesar Marval as Non-Executive Directors, and Mr. Olaleye Peter Dada as Assistant Company Secretary with effect from 8th March, 2017. The Board also approved the appointment of Mr. Bhushan Akshikar as a Non-Executive Director on the Board of the Company with effect from 9th March, 2017. Before his appointment, Bhushan was the General Manager of GlaxoSmithKline Pharmaceutical Nigeria Limited.
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ZENITH INTERNATIONAL BANK PLC – Price Adjustment for Dividend
The share price of Zenith International Bank Plc. was adjusted today for a dividend of 177 kobo per share as recommended by the Board of Directors of the Bank. Its last closing price was N14.78; hence, its ex-div price was N13.01.

CENTRAL SECURITIES CLEARING SYSTEM PLC – Quarterly Earnings Forecast (April To June 2017)
(Figures on thousands of Naira)
                                                    Q2 2017          Year to Q2 2017
Total Fee Income:                                575,146               1,198,729
Other Operating Income:                    66,686             115,122
Interest Income:                                   908,980             1,502,589
Operating Expenses:                            641,219               874,603
Profit before Tax:                                 909,593              1,941,837
Tax Provision:                                    45,480                    97,092
Profit after Tax:                                    864,113                1,844,745
Net Working Capital:                          7,404,770           7,404,770
Net Cash & Cash Equivalent:              632,274            632,274

AFRILAND PROPERTIES PLC – Notice of 4th Annual General Meeting
Notice is hereby given that the fourth Annual General Meeting (“AGM”) of Afriland Properties Plc. (the “Company”) will hold Tuesday, March 28, 2017 at the Banquet Hall. Lagoon Restaurant, Ozumba Mbadiwe Street, Victoria Island, Lagos, at 10:00 am to transact the following business:

Ordinary Business

  • To lay before the members, the Audited Financial Statements for the year ended 31st December, 2016, together with the Reports of the Directors, Auditors and Audit Committee thereon:
  • To re-elect retiring Directors:
  • To authorize the Directors to fix the remuneration of the Auditors:
  • To elect members of the Statutory Audit Committee.

Special Business

  • To consider, and if thought fit, pass the following as special resolutions:
    • That the authorized share capital of the Company be and is hereby increased from  N675,000,000 to  N686,950,000 by the creation or addition thereto of 23,900,000 ordinary shares of 50 kobo each such that the newly created shares shall rank pari passu with the existing shares of the company.
    • That Clause 6 of the Memorandum of Association of the Company be amended to read as follows: “The share capital of the Company is N686,950,000 divided into 1,373,900,000 ordinary shares of 50 kobo each with power to increase the capital for the time being into several classes and attached thereto, any preferential, deferred, qualified or special rights, privileges or conditions.”
  • That subject to the approval of resolution 5(five) and the regulatory authorities, the Company be and is hereby authorized to capitalize the sum of N62,450,000 from the balance standing to the credit of the share premium account of the Company as at 31st December, 2016, and available for distribution, and appropriate same as bonus shares to the shareholders whose name appear in the Company’s Registrar of Members as at Tuesday, 7th March, 2017, in the proportion of 1 ordinary share of 50kobo for every 10 ordinary shares of 50 kobo each now held by them, and each of such bonus shares be credited as fully paid up.
    • That the bonus shares shall rank pari passu in all respects with the existing shares of the Company.
  • That the Board of Directors be and is hereby authorised to deal with the fractional shares, if any, resulting from issuance of the bonus shares as they deem fit, and also to do all things necessary to give effect to the resolutions herein contained.