.. As Access Holdings vests 23.8m units of shares on senior executives
Transactions on the Nigerian Exchange Limited (NGX) closed on a downturn yesterday, occasioned by profit-taking activities in 19 stocks, as the All-Share Index declined by 0.005 per cent.
At the closed of transactions yesterday, the ASI declined by 4.53 points, representing a loss of 0.005 per cent, to close at 98,223.97. Similarly, the overall market capitalisation value shed N3 billion to close at N55.552 trillion.
The market negative performance was driven by price depreciation in large and medium capitalised stocks which are; NASCON Allied Industries, PZ Cussons Nigeria, Lafarge Africa, Zenith Bank and Guaranty Trust Holding Company (GTCO).
Investor sentiment, as measured by market breadth closed negative as 14 stocks advanced, while 19 declined. Okomu Oil recorded the highest price gain of 9.98 per cent to close at N255.70 kobo. Tantalizers followed with a gain of 8.33 per cent to close at 39 kobo and Cutix up by 5.26 per cent to close at N3.
The Initiates Plc (TIP) rose by 4.76 per cent to close at N2.20 kobo while Wapic Insurance appreciated by 4.41 per cent to close at 71 kobo.
On the other hand, PZ Cussons Nigeria led the losers’ chart by 10 per cent to close at N34.20 kobo. International Breweries followed with a decline of 9.89 per cent to close at N3.92 kobo, while McNichols lost 9.73 per cent to close at N1.02 kobo.
Sterling Financial Holdings Company down by 9.59 per cent to close at N4.43 kobo while Linkage Assurance declined by 9.41 per cent to close at 77 kobo.
The total volume traded declined by 25.04 per cent to 319.077 million units, valued at N9.178 billion, and exchanged in 8,121 deals. Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 79.979 million shares valued at N2.074 billion. Transnational Corporations (Transcorp) followed with 38.586 million shares worth N472.368 million, while Access Holdings traded 34.065 million shares valued at N594.523 million.
GTCO traded 25.206 million shares valued at N968.613 million, while Fidelity Bank transacted 12.629 million shares worth N112.980 million.
Meanwhile, Access Holdings Plc , Africa’s leading financial services group, has announced the award of 23.8 million ordinary shares to some of its senior executives and executives of Access Bank, its flagship subsidiary in line with the disclosure requirements of the Securities and Exchange Commission and the NGX.
According to the bank, the decision is in pursuant of the terms of its shareholders approved employees performance share plan.
Acting Group Chief Executive Officer of Access Holdings, Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank, and six others were vested with 23,883,790 units of the Group’s shares, worth a combined N427.13 million. This was disclosed in a notice filed to the NGX.
A breakdown of the filings showed that Ogbonna got the highest amount of shares totalling 12,345,679 units and worth N220.37 million, having been traded at N17.85 per share. Agbede was vested with 2,216,992 units of shares, valued at N39.795 million.
Other directors, who had shares vested include Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, with 1,234,568 worth N22.16 million; Iyabo Soji-Okusanya, Executive Director, Commercial and Investment Banking Division, Access Bank, with 1,691,308 at N17.95 per share. Her shares are valued at N30.36 million, and Chizoma Okoli, 5Access Bank’s Deputy Managing Director, Retail South, who got 1,728,395 units valued at N30.85 million.
Executive Director, Risk Management, Dr Gregory Jobome, and Executive Director, Commercial Banking, Hadiza Ambursa were each vested with 1,728,395 valued at N30.85 and N31.02 million respectively. Access Holdings’ Company Secretary, Sunday Ekwochi was vested with 1,210,058 units of the Group’s shares worth N21.72 million.
