BusinessDay 28 Mar 2018

A10 BUSINESS DAY
Wednesday 28 March 2018
Live @ The Stock Exchange
Top Gainers/Losers as at Tuesday 27 March 2018 2018 Market Statistics as at Tuesday 27 March 2018
GAINERS
Company Opening Closing Change
NESTLE N1320 N1339 19
GLAXOSMITH N28.05 N30.9 2.85
FO N40 N41.9 1.9
MRS N27 N28.35 1.35
CCNN N18.75 N19.65 0.9
LOSERS
Company Opening Closing Change
SEPLAT N700.1 N665.1 -35
MOBIL N184.5 N177 -7.5
TOTAL N243.7 N240 -3.7
INTBREW N57 N54.15 -2.85
GUINNESS N105 N103 -2
ASI (Points) 41,243.24
DEALS (Numbers) 4,807.00
VOLUME (Numbers) 352,889,897.00
VALUE (N billion) 4.142
MARKET CAP (N Trn 14.899
FMDQ admits N3.15bn LAPO MFB SPV bond
… validates OTC Exchange’s drive to support goals of corporates, deepen debt capital market
Stories by
Iheanyi Nwachukwu
Corporate institutions
have
continued to
successfully
tap the Nigerian
debt capital markets
(DCM) to access stable
long-term finance to fund
key activities that ultimately
translate to the development
of the economy at
large.
Coming shortly on the
heels of the recent listing of
the Viathan Funding PLC
Power Bond, FMDQ OTC
Securities Exchange (FMDQ
or the OTC Exchange) admitted
on its platform, the
first ever microfinance bank
bond in Nigeria – the LAPO
MFB SPV PLC Series 1
N3.15bn 17.75percent. This
is a 5-year Fixed Rate Senior
Unsecured Bond (the LAPO
MFB SPV Bond) under a
N20.00bn Bond Issuance
Programme.
To commemorate the
listing of the bond, a ceremony
was held at the
FMDQ offices on Tuesday,
March 27, 2018, where the
L-R: Uaboi Agbebaku, Esq, company secretary/legal adviser, Nigerian Breweries Plc; Kufre
Ekanem, corporate affairs adviser, Nigerian Breweries Plc; Tinuade Awe, executive director,
regulation, The Nigerian Stock Exchange (NSE); Jordi Borrut Bel, managing director/CEO,
Nigerian Breweries Plc; Grace Omo-Lamai, human resource director, Nigerian Breweries
Plc; Franco Maria Maggi, marketing director, Nigerian Breweries Plc and Tony Ibeziako, Ag.
head, Listing Business Division, NSE during a Closing Gong Ceremony at The Exchange
yesterday.
OTC Exchange played host
to the issuer, represented
by Godwin Ehigiamusoe,
Managing Director, LAPO
Microfinance Bank Limited
(LAPO Microfinance),
alongside other senior executives
from LAPO Microfinance;
the co-sponsors to
the issue on FMDQ, United
Capital Plc, represented by
Jude Chiemeka, Managing
Director, United Capital Securities
Limited and Tolu
Osinibi, Executive Director,
FCMB Capital Securities
Limited and other parties to
the issue.
Welcoming the guests
to the Ceremony, Jumoke
Olaniyan, Associate Vice
President, Market Architecture
Division, FMDQ,
applauded the issuer for
having successfully raised
N3.15billion from the domestic
capital markets, and
for indubitably setting the
pace for other microfinance
banks planning to raise capital
in the Nigerian DCM.
She further commended the
issuer for joining the league
of corporate entities whose
debt profiles have been
raised via the value-packed
listings and quotations
service offered by FMDQ.
She reiterated the OTC Exchange’s
commitment to
continually align its strategies
and innovation to serve
and provide the muchneeded
support to the players
in the DCM.
Speaking during his
special address, Ehigiamusoe,
highlighted that, the
demand for capital from
micro, small and medium
businesses is high, and as a
pro-poor financial institution,
LAPO Microfinance is
committed to the social and
economic empowerment
of low-income households
through provision of access
to responsive financial services
on a sustainable basis.
With excellent corporate
governance, experienced
management, committed
staff and extensive footprints
across Nigeria, LAPO
Microfinance is poised to
deliver its core mandate of
enhancing financial inclusion
by continuously tapping
the Nigerian DCM
to raise capital to improve
lives of the underprivileged.
Delivering the Registration
Member (Listings)
remarks, Chiemeka, highlighted,
“we are delighted
to have acted as financial
adviser and issuing house
in the successful execution
of the LAPO MFB SPV
Series 1 bond issue, which
is the first of its kind in the
microfinance industry.
Coming from a successful
2017, United Capital remains
committed to making
significant contributions
to the OTC Exchange
and to the success of our esteemed
clients through our
expertise in capital raising.
We believe listing this instrument
on the exchange
will pave the way for other
microfinance banks and
allow them explore other
funding sources available
thereby establishing a robust
domestic capital markets.”
Shareholders of Africa Prudential ratify 40Kobo dividend per share
...Approve appointment of Nnorom as director
Shareholders of Africa
Prudential Plc on
Tuesday, March 27,
2018 unanimously
approved a dividend payment
of forty (40) kobo per
ordinary share at the Company’s
5th Annual General
Meeting (AGM) held in Lagos
on Tuesday, March 27,
2018.
Accordingly, all shareholders
whose names appear
in the Company’s
Register of Members at the
close of business on Friday,
March 12, 2018 qualify for
the dividend which is payable
same day of the AGM.
The company’s audited
results for 2017 shows a total
of N800 million will be
paid to shareholders of the
Company, while the Register
of Members and Transfer
Books was closed from
Tuesday, March 13 to Monday,
March 19, 2018 (both
dates inclusive) for the purpose
of updating Register of
Members eligible to receive
the dividend payment.
At the meeting shareholders
also unanimously
approved the appointment
of Emmanuel Nnorom as
a Director of the company.
During the year under review,
the Board had appointed
Nnorom as a Non-
Executive Director.
Eniola Fadayomi, chairman
of the Board, Africa
Prudential Plc who spoke
on the appointment noted
that Nnorom has a rich
pedigree of experience in
the corporate world, having
previously served as Chief
Operating Officer (COO) of
UBA Plc, President Managing
Director of Transcorp
Plc and currently the Group
Managing Director of the
Heirs Holdings Ltd. Indeed,
the appointment of Mr. Nnorom
is like a home coming
because, he has previously
served as a Director and was
also the pioneer Chairman
of the company.
The National Coordinator
Emeritus, Independent
Shareholders Association
of Nigeria (ISAN), Sunny
Nwosu, commended the
company for declaring a
dividend of 40 Kobo inspite
of the various projects the
company undertook in the
year under review. He also
lauded the company for
working extra hard to ensure
it remained the leading
Registrar company in the
country.
“I really want to appreciate
the management of this
company for its doggedness
and hard work in its activities
in the past year, which
has translated to the payment
of 40 Kobo dividend,
a significant increase from
the 30 Kobo which we received
last year. I especially
want to congratulate Nnorom
on his appointment as
a Director. We are aware of
his pedigree over the years
and we know that he will
bring in his wealth of experience
to the fore in his
role as a Director, and contribute
meaningfully to the
continuous growth of this
company.”
Nwosu said the shareholders
appreciated the
dividend considering the
unfriendly operating environment
and impairment
charge for credit losses.
Bisi Bakare, the President
of the Pragmatic Shareholders
Association of Nigeria,
who also spoke at the
meeting was full of praises
for the management of the
company. According to her,
shareholders are proud of
the achievements of the
company especially with the
introduction of key products
into its bouquets such as
Easycoop, E-records, USSD
*4018# and VAR. She urged
the company to do more to
make the shareholders continue
to smile in the coming
financial dispensation.
Commenting on the financial
results for the year
under review, the Managing
Director/CEO of Africa Prudential
Plc, Peter Ashade
said that “Despite the challenging
operating environment
in 2017, the company
ended the year with an impressive
performance.
The company recorded
a turnover of N3.36 billion
- a growth of 38percent over
the previous fiscal financial
year - and a Profit Before Tax
of N2.06 billion which represent
an increase of 43percent
over the previous year”.