FGN SAVINGS BOND ALLOTMENT RESULT – March 2017
Offer Period:                                                    13th – 17th March, 2017
Settlement Date:                                             22nd March, 2017
Coupon:                                                          13.01%
Tenor:                                                              2 years
Total Amount Allotted:                                   N2.068 billion
Total Number of Successful Subscriptions:      2,575

The Debt Management Office, on behalf of The Federal Government, further announced that the April 2017 Offer of the Savings Bond will open on Monday, 3rd April and close on Friday, 7th April, 2017.

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INTERNATIONAL BREWERIES PLC – Board Changes
International Breweries Plc. has announced the retirement of the Chairman of its Board of Directors, Otunba Michael Daramola, having served in that capacity for a maximum period of 5 years as stipulated by the Company’s Article of Association. The Board has consequently approved the appointment of Mr. Sunday Akintoye Omole as its new Chairman with effect from 22nd March, 2017. Prior to his appointment, Akintoye was the Chairman of the Company’s Risk Management/Remuneration Committee as well as a member of its Audit Committee.

The Board also approved the appointment of Mr. Michiel Oerlemans as the new Chief Operating Officer of the Company with effect from 22nd March, 2017. Michiel succeeded Mr. Andrew Ross whose resignation was accepted by the Board.
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NIGERIAN AVIATION HANDLING COMPANY PLC – Resignation of Director
Nigerian Aviation Handling Company Plc. also announced the resignation of Mr. David Thomas, a Director representing Lufthansa, from its Board.
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NEWREST ASL NIGERIA PLC – Board Resolutions
At the meeting of the Board of Directors of Newrest ASL Nigeria Plc. held on 21st March, 2017, the Board resolved as follows:

  • That a dividend be recommended to the shareholders of the Company at the next AGM scheduled to hold on Wednesday, 24th May, 2017.
  • The Closure Date of the Register of Members will be from 8th May to 12th May, 2017.

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NEM INSURANCE PLC – Change in Status of Ghana Subsidiary
In line with the directive of the Ghanaian insurance regulator for all insurance companies to recapitalize, NEM Insurance Plc’s subsidiary in Ghana, NEM Insurance Limited, had merged with Regency Alliance Insurance Company Limited Ghana. As a result of this merger and its reduced stake in the merged company, NEM Nigeria has reclassified the company as an Associate Company.
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STANBIC IBTC HOLDINGS PLC – Audited Financial Result for the Year Ended 31st December, 2016
Gross Earnings: 12% increase from N140bn to N156.4bn
Profit after Tax: 51% increase from N18.9bn to N28.5bn (FY 2016 EPS, 246 kobo; FY 2015 EPS, 155 kobo)

Corporate Action
Proposed Dividend:     5 kobo (2015: 95 kobo, interim & final)
Proposed Bonus:         Nil
Closure Date:              4th April, 2017
AGM Date:                  To be advised
Payment Date:            3 working days after AGM
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