UAC of Nigeria Plc (UACN) and Portland Paints and Products Plc (Portland Paints) a paint manufacturing industry in Nigeria, have both signed a memorandum of understanding (MOU) to realize the acquisition of the majority stake in Portland Paints. The proposed transaction is driven by potential synergies between the two companies and is in line with UACN’s strategy of building a portfolio of brands and businesses geared to the growth segments of the Nigerian economy, and partnerships that deliver long-term value to the company and its stakeholders.
The Consumer Goods firm recorded -32.16% loss in 2008 while parts of the losses were erased in 2009 and 2010 with +6.21% and +2.07% gains witnessed. 2011 saw decline of -16.88%. In 2012, the stock has recorded +5.84% gains with positive growths also recorded in its Q1 2012 financials.
Unilever Nigeria Plc through its Foundation, Unilever Foundation, is aiming to reach out to over one billion people all over the world by 2020 and transform their lives positively. This disclosure was made by the Chief Executive Officer/Managing Director of Unilever Nigeria, Mr. Thabo Mabe during the formal of Employee Volunteering Scheme at Olusesun Primary School Oregun recently
The household producing firm recorded price depreciation in 2008 with -52.49% decline recorded. The stock resumed uptrend to erase previous losses with +78.23% gains recorded while further gain was also recorded in 2010 with +45.41% appreciations recorded. The stock closed 2011 with +7.81% appreciations while it has recorded +7.10% YTD gains in 2012.
DANGOTE Sugar Refinery Plc has embarked on expansion scheme of production facility at its Savannah Sugar Company located in Numan in Adamawa State, to raise output to 150, 000 metric tonnes of sugar a year. The Managing Director of the sugar company, Ta’zaih A. Toldi, told The Guardian in an exclusive chat yesterday in his office that the new expansion scheme was engineered by the company’s policy to ensure self-sufficiency of the commodity in the country.
The sugar production firm share price went by -60.21% and -2.58% losses in 2008 and 2009 respectively while +5.96% gains was recorded in 2010. It went down by a whopping -70.63% in 2011 while it has also recorded -9.57% YTD losses in 2012. The firm’s Q1 ’12 financials reflects that it recorded positive growths in both turnover and PAT.
Guaranty Trust Bank (GTBank) Plc, has introduced a new current account for Senior Citizens called ‘The GTBank Seniors Account’. The new banking product, which is the first offering of its kind by any Nigerian Bank, is designed to allow indigenous persons aged 70 years and above enjoy all banking services offered by GTBank for free.
GTBank share price closed 2008 with -62.75% losses. The stock witnessed an improved performance in 2009 with +20.16% gains recorded and another +14.58% gains were also recorded in 2010. It resumed downtrend in 2011 as it closed the year with -19.76% losses while +12.28% YTD gains have been recorded so far in 2012.
Unity Kapital Assurance Plc has opened another chapter in its quest for market leadership and stakeholder value with another addition to its fold of strategic investments by acquiring FUG Pensions Limited, a licensed Pension Fund Administrator. With the investment, UnityKapital has extended its field of operations to Pensions Administration; a field that already includes ownership of a Health Management organization as well as substantial interests in a major player in the hospitality business.
The insurance outfit recorded -78.99% losses in 2010 while flat position was recorded in 2011. The stock also remained flat in 2012 so far as it currently trades at the nominal price of 0.50k.
Ecobank Transnational Incorporated(ETI) has signed a 40.7 million EUR seven-year loan facility agreement with PROPARCO, the development financial institution arm of the French Development Agency (AFD) and BIO, the Belgian investment company for developing countries. The 40.7 million EUR will be invested in developing the bank’s systems and technology infrastructure, which serves nine million retail, local corporate, public sector and microfinance customers, through 1,180 branches, 1,632 ATMs and 2,744 PoSs.
The Pan-African Bank recorded a whopping -81.29% loss in 2008 and also went down by -63.05% in 2009. The stock recorded +4.67% gains in 2010 while 2011 saw another loss of -33.12%. The stock has so far recorded -2.29% gains in 2012 with positive growth also recorded in gross earnings while negative growth was recorded in PAT.
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