PRESTIGE ASSURANCE PLC – Update on Proposed Reconstruction
Prestige Assurance Plc has notified market that it has made an application to The Nigerian Stock Exchange for a proposed reduction of its Issued Share Capital from N2,685,216,000 made up of 5,370,432,000 Ordinary Shares of 50 kobo each to N1,908,705,000. The capital reduction will enable the Company wipe out its accumulated losses of N776,511,000.
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FIDELITY BANK PLC – Financial Result for the 6 Months Ended 30th June, 2017
Gross Earnings: 22% increase from N70.3bn to N85.8bn
Profit after Tax: 66% increase from N5.5bn to N9.0bn (6M 2017 EPS, 31 kobo; 6M 2016 EPS, 19 kobo)
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GREIF NIGERIA PLC – Financial Result for the 9 Months Ended 31st July, 2017
Revenue: 62% increase from N693.0m to N1.1bn
Profit after Tax: 373% increase from (N32.9m) to N89.8m [9M 2017 EPS, 211 kobo; 9M 2016 EPS, (77 kobo)]
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CUTIX PLC – Financial Result for the 3 Months Ended 31st July, 2017
Revenue: 82% increase from N712.6m to N1.3bn
Profit after Tax: 95% increase from N53.4m to N104.1m (3M 2017 EPS, 12 kobo; 3M 2016 EPS, 6 kobo)
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INTERNATIONAL BREWERIES PLC – Update on Proposed Merger
International Breweries Plc has announced the receipt of the requisite pre-merger regulatory approvals for its proposed merger with Intafact Beverages Ltd and Pabod Breweries Ltd. The consideration for the merger to the shareholders of Intafact and Pabod will be Ordinary shares of International Breweries Plc. The share exchange ratio and other terms of the proposed merger are contained in the Scheme of Merger Document to be distributed to all the shareholders of the 3 companies.
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STANBIC IBTC HOLDINGS PLC
Financial Result for the 6 Months Ended 30th June, 2017
Gross Earnings: 36% increase from N71.3bn to N97.2bn
Profit after Tax: 113% increase from N11.3bn to N24.1bn (6M 2017 EPS, 230 kobo; 6M 2016 EPS, 95 kobo)
Corporate Action
Interim Dividend: 60 kobo
Proposed Bonus: Nil
Closure Date: 7th September, 2017
AGM Date: 12th September, 2017
AGM Venue: Eko Hotel & Suites, Victoria Island, Lagos
Payment Date: 27th September, 2017
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Scrip Dividend Issue
In line with the authority granted by Shareholders of the Banking Group in 2015, Stanbic IBTC has notified its shareholders that they have a choice of receiving their dividends up to 2020 either in cash or as scrip dividend. Shareholders who elect for the scrip dividend must make such election to the Company’s Registrars not later than 7 working days prior to any dividend payment date.
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