1. Healthcare

WEEKLY REPORT
STOCK MARKET REPORT FOR JANUARY 30TH, 2015
EQUITIES
A turnover of 2.210 billion shares worth N28.960 billion in 19,495 deals were traded this week by
investors on the floor of The Exchange in contrast to a total of 2.119 billion shares valued at N25.941
billion that exchanged hands last week in 21,044 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.361 billion shares
valued at N10.215 billion traded in 11,030 deals; thus contributing 61.58% and 35.27% to the total
equity turnover volume and value respectively. The Oil & Gas Industry followed with a turnover of
439.582 million shares worth N8.402 billion in 1,723 deals. The third place was occupied by the
Consumer Goods Industry with 236.003 million shares worth N7.880 billion in 3,464 deals.
Trading in the Top Three Equities namely- Oando Plc, Fidelity Bank Plc, and Access Bank Plc
(measured by volume) accounted for 889.737 million shares worth N9.095 billion in 2,344 deals,
contributing 40.27% and 31.40% to the total equity turnover volume and value respectively.
Equity Turnover - Last 5 days
Date
Deals
Turnover
Volume
Turnover Value (N)
Traded
Stocks
Advanced
Stocks
Decline
d Stocks
Unchange
d Stocks
26-Jan-15
3,568
263,858,146
3,874,135,692.02
92
22
17
53
27-Jan-15
4,346
468,181,883
4,675,457,725.98
112
25
28
59
28-Jan-15
3,892
242,766,630
3,670,624,465.83
100
23
18
59
29-Jan-15
3,889
917,084,798
11,988,298,700.10
95
19
26
50
30-Jan-15
3,800
317,667,583
4,751,718,276.68
105
15
33
57
Distribution of Quantity Traded
FINANCIAL SERVICES
OIL AND GAS
CONSUMER GOODS
OTHERS
8%
11%
20%
For Further Inquiries Contact: Market Operations Department
61%
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WEEKLY REPORT
ETPs
Also traded during the week were a total of 42,109 units of Exchange Traded Products (ETPs) valued
at N1.197 million executed in 31 deals compared with a total of 256 units valued at N317,430.39
transacted last week in 21 deals. (See summary in the table below).
S/N
Security
Deals
Volume
Value
1
LOTUSHAL15
12
38,318
356,884.09
2
VETGRIF30
10
3,455
53,261.75
3
NEWGOLD
9
336
786,527.00
TOTAL
31
42,109
1,196,672.84
RETAIL BONDS
There was no activity recorded in the debt board this week.
INDEX MOVEMENT
The NSE All-Share Index and Market Capitalization depreciated by 0.84% to close on Friday at
29,562.07 and N9.847 trillion respectively.
Similarly, all indices finished lower during the week with exception of the NSE Lotus Islamic Index and
NSE Industrial Goods Index that rose by 0.88% and 1.14% respectively, while NSE ASeM Index closed
flat. (See summary of Index movements in the table below).
WEEK
OPENING
WEEK
CLOSE
WEEKLY
CHANGE
WtD
MtD
QtD
YtD
% Change
The NSE All-Share Index (ASI)
29,812.05
29,562.07
-249.98
-0.84
-14.70
-14.70
-14.70
NSE 30 Index
1,347.79
1,334.09
-13.70
-1.02
-14.66
-14.66
-14.66
NSE Banking Index
307.02
297.93
-9.09
-2.96
-15.22
-15.22
-15.22
NSE Insurance Index
144.53
141.60
-2.93
-2.03
-5.38
-5.38
-5.38
NSE Consumer Goods Index
785.63
781.84
-3.79
-0.48
-13.47
-13.47
-13.47
NSE Oil/Gas Index
357.22
357.07
-0.15
-0.04
-6.06
-6.06
-6.06
NSE Lotus II
1,931.05
1,948.04
16.99
0.88
-13.18
-13.18
-13.18
NSE Industrial Goods Index
1,894.37
1,915.93
21.56
1.14
-10.45
-10.45
-10.45
NSE ASeM Index
1,213.36
1,213.36
0.00
0.00
0.00
0.00
0.00
For Further Inquiries Contact: Market Operations Department
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WEEKLY REPORT
The NSE All-share and NSE-30 Indices
Week Ended January 30th, 2014
30,000.00
1,355.00
29,900.00
1,350.00
29,800.00
1,345.00
29,700.00
1,340.00
29,600.00
1,335.00
29,500.00
1,330.00
29,400.00
1,325.00
29,300.00
1,320.00
ASI NSE-30
NSE-30
SUMMARY OF PRICE CHANGES
Twenty-eight (28) equities appreciated in price during the week lower than thirty-five (35) equities of
the preceding week. Forty-one (41) equities depreciated in price higher than thirty-one (31) equities of
the preceding week, while one hundred and twenty-seven (127) equities remained unchanged lower
than one hundred and thirty (130) equities recorded in the preceding week.
Top 10 Price Gainers
Company
DANGOTE SUGAR REFINERY PLC
P. Z. INDUSTRIES PLC
IKEJA HOTEL PLC
THE OKOMU OIL PALM COMPANY PLC
COSTAIN (WEST AFRICA) PLC
PRESCO PLC
CAP PLC
ECOBANK TRANSNATIONAL INCORPORATED
NPF MICRO FINANCE BANK PLC
UACN PROPERTY DEVELOPMENT CO. PLC
For Further Inquiries Contact: Market Operations Department
Open
5.53
25.00
2.70
24.46
0.65
29.63
36.00
15.05
0.81
8.60
Close Gain (N)
6.82
1.29
29.64
4.64
3.04
0.34
27.45
2.99
0.72
0.07
32.66
3.03
38.75
2.75
16.18
1.13
0.87
0.06
9.13
0.53
% Change
23.33
18.56
12.59
12.22
10.77
10.23
7.64
7.51
7.41
6.16
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WEEKLY REPORT
Top 10 Price Decliners
Company
R. T. BRISCOE (NIG.) PLC
DIAMOND BANK PLC
MAY & BAKER NIGERIA PLC
ZENITH INTERNATIONAL BANK PLC
CHAMPION BREWERIES PLC
UBA CAPITAL PLC
N.E.M INSURANCE CO.(NIG) PLC
FIDELITY BANK PLC
SKYE BANK PLC
STERLING BANK PLC
Open
0.70
4.00
1.58
17.50
6.08
1.55
0.57
1.34
2.13
2.47
Close Loss (N)
0.61
-0.09
3.58
-0.42
1.44
-0.14
16.01
-1.49
5.62
-0.46
1.44
-0.11
0.53
-0.04
1.25
-0.09
1.99
-0.14
2.32
-0.15
% Change
-12.86
-10.50
-8.86
-8.51
-7.57
-7.10
-7.02
-6.72
-6.57
-6.07
NEW LISTINGS
•
A total of 43,024 units at N34,541.45 per unit of Allan Gray Africa Fund were listed as
Memorandum Listing at the Exchange on January 30th, 2014.
FINANCIAL NEWS
UNAUDITED ACCOUNT
JOHN HOLT PLC: FIRST QUARTER (OCT-DEC,2014) FINANCIAL STATEMENTS FOR THE
PERIOD ENDED 31 DECEMBER, 2014- ‘000 Revenue 2014 N536,000 2013 N622,000 Loss After
Tax 2014 (N246,000) 2013 (N96,000)
SEVEN-UP BOTTLING COMPANY PLC: UNAUDITED FINANCIAL STATEMENTS FOR THE
PERIOD ENDED 31 DECEMBER, 2014 - ‘000 Revenue 2014 N59,829,956 2013 N54,954,328 Profit
After Tax 2014 N4,541,820 2013 N3,917,647
PZ CUSSONS NIGERIA PLC: UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED
30 NOVEMBER, 2014 - ‘000 Revenue 2014 N 31,659,965 2013 N 32,460,952 Profit After Tax 2014
N1,441,187 2013 N 2,317,797
GUINNESS NIGERIA PLC: UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31
DECEMBER, 2014 - ‘000 Revenue 2014 N 55,267,240 2013 N 52,757,566 Profit After Tax 2014 N
3,398,591 2013 N 4,996,890
AUDITED ACCOUNT
VONO PRODUCTS PLC: AUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31
DECEMBER, 2014 - ‘000 Revenue 2014 N215,149 2013 N192,161 Loss After Tax 2014 (N400)
2013 (N5,600)
For Further Inquiries Contact: Market Operations Department
Page 4
WEEKLY REPORT
OTHER MARKET NEWS
EVANS MEDICALS PLC: Appointment of new Directors: Mr Lawrence Fubara Anga and Mr
Adegboyega Adeyinka Ademiluyi - Evans Medical Plc notified The Nigerian Stock Exchange that at
its Board of Directors meeting held on Monday, 5 January 2015, Mr Lawrence Fubara Anga and
Prince Adegboyega Adeyinka Ademiluyi were appointed Directors of Evans Medical Plc with effect
from 24 November 2014.
The company also notified The Exchange of the resignation of Mr Bolaji Odunsi from its Board with
effect from 15 August 2014.
Lawrence Fubara Anga obtained a law degree (LLB) from Churchill College, Cambridge University,
England in 1983 before obtaining his MA also in Law from Cambridge University, England in 1988.
A lawyer and political economist, Fubara is also a chartered tax practitioner (FCTI) and a chartered
arbitrator (MCIArb). He is a founding partner in the law firm of AELEX, Legal Practitioners &
Arbitrators; and Heads the firm’s Transportation, Banking and Financial Services Practice. Prior to
this, he was a partner at the firms of Anga & Emuwa, L.F. Anga & Co. and George Etomi & Partners.
He has a strong multi-disciplinary background in Law, Economics, Management and Fiscal Policy.
He was between 2006 and 2010 the Chairman, Capital Market Solicitors Association and Chairman
of its Strategy and Remuneration Committee and acts as counsel and advises several entities
involved in aviation. He is the Chairman, Aviation Committee Section on Business Law, Nigerian Bar
Association and the founder of the Aviation Law Society. He has an active Business Fraud and AntiCorruption practice advising clients on various aspects of FCPA compliance, anti-money laundering
and anti-bribery laws in Nigeria.
He is an active member of the Section of Energy and Resources Law of the International Bar
Association, the Section on Natural Resources and Energy Law of the American Bar Association, the
UK Energy Lawyers Group, and the advisory Board of the Institute for Energy Law of the Centre for
American and International Law, USA.
Lawrence has written several articles both in local and international journals and papers and has
attended several conferences. He has served on several committees and boards both locally and
internationally and is currently the Vice Chairman, Board of the Trustees of the Investors’ Protection
Fund of The Nigerian Stock Exchange.
Prince Adegboyega A. Ademiluyi is CEO and Managing Director of a shipping and trading group
with offices in Nigeria and the United Kingdom. The group includes, Ship and Shore Services,
International Cargo Surveys Limited and Ghazi Shipping. He is a core, founding Director of the
National Truck Manufacturing Limited, a Kano-based plant that assembles commercial vehicles. He
has served as an Advisor and Chairman to several international business enterprises.
Prince Ademiluyi received his early education in the United Kingdom and Nigeria and holds a B.Sc. in
Economics and an MBA in Finance from Howard University, Washington D.C.
Prior to venturing into private enterprise, he was the Petroleum Industry Shipping Co-ordinator and
Export Manager for Total Nigeria Plc.
For Further Inquiries Contact: Market Operations Department
Page 5
WEEKLY REPORT
The following are the present Directors of Evans Medical Plc sequel to the appointment of the two
directors and resignation of Mr. Bolaji Odunsi.:
•
•
•
•
•
•
•
•
•
•
•
•
Chief S.A. Edu – Chairman
Chief O. Olaopa –Group Managing Director
Mr V. Eburajolo, mni
Mr M.A. Ajufo
Mr Wale Oyenuga
Mr Adeoye Adekunle Oyewo
Mr Ahmad Ibrahim Damcida
Mr Sola Ibrahim Ogunwale
Mrs Titilope Bamidele Adeyemi
Mrs Teniola Aluko
Mr Lawrence Fubara Anga
Prince Adegboyega Adeyinka Ademiluyi.
VITAFOAM NIGERIA PLC: Delay in the Release of 2014 Audited Accounts - Vitafoam Nigeria Plc
(“the Company”) notified The Nigerian Stock Exchange that there will be a delay in the release of the
Company’s Audited Financial Statements for the year ended 30 September 2014 and the Unaudited
Accounts for the first quarter ended 31 December 2014.
Vitafoam explained that the delay is as a result of challenges associated with its ongoing migration from
Sage Line 500 accounting software to the newly acquired Sage ERP X3 Package. The Company
explains that the implementation of the new software has impacted the timelines previously set for the
preparation and audit of the year end accounts.
The Company is hopeful that the issues will be satisfactorily resolved as soon as possible.
INTERNATIONAL ENERGY INSURANCE PLC: Removal of Directors - International Energy
Insurance Plc notified The Nigerian Stock Exchange that following a resolution of the Board of Directors
of the Company passed at its meeting held on 15 September 2014, Messrs Callistus Udalor and
Tosayee Ogbomo were removed as Directors of the Company. The Company added that the decision
will be ratified at its next Annual General Meeting.
OANDO PLC: Change of Terms of Rights Issue - Oando Plc notified The Nigerian Stock Exchange
that the Securities and Exchange Commission (SEC) has approved the change in the terms of its Rights
Issue.
Accordingly, the Rights Issue size, price and ratio has been revised from 2,217,265,184 ordinary shares
of 50 kobo each at N22.00 per share (on the basis of one new share for every four ordinary shares
held; 1 for 4) to 2,956,353,579 ordinary shares of 50 kobo each at N16.50 per share (on the basis of
one new ordinary share for every three ordinary shares held; 1 for 3).
Oando Plc states that the Rights Circular and the initial terms of the Rights Issue remain valid during
the acceptance/renunciation period and are only amended to the extent provided for in this notice.
Shareholders who have already submitted their acceptance forms will not be required to submit new
For Further Inquiries Contact: Market Operations Department
Page 6
WEEKLY REPORT
forms. However, shareholders who have not submitted their acceptance/renunciation forms are
requested to complete the forms as is and in accordance with the instruction contained in the forms.
Shareholders should note that the variation in the terms of the Rights Issue will not result in any change
in the subscription amounts due from each shareholder, other than instances where there are rounding
down approximations. Thus, any minimal surplus subscription funds that may accrue as a result of
rounding down approximations will be refunded by the Registrars to the affected shareholders upon
clearance of the basis of allotment by SEC. Similarly, shortfalls in subscription amounts as a result of
rounding down approximations will be covered by the Company to ensure that no shareholder is worse
off as a result of the change in the Rights Issue terms.
ACCESS BANK PLC: Notice of Commencement of Rights Issue - Access Bank Plc (“the Bank”)
notified The Nigerian Stock Exchange that the Securities and Exchange Commission (SEC) has
approved the Bank’s Rights Issue of 7,627,639,636 ordinary shares of 50 kobo each at N6.90 per
share.
Acceptance List in respect of the Rights Issue will open from Monday 26 January 2015 and close on
Wednesday 4 March 2015.
Access Bank states that Rights Circulars will be mailed to all shareholders whose names appeared on
the Bank’s Register of Members as at the close of business on Thursday 23 October 2014.
UNITY BANK PLC: Appointment of Chairman and Vice Chairman - THOMAS A. ETUH,
CHAIRMAN: Unity Bank Plc notified The Nigerian Stock Exchange of the appointment of Mr. Thomas
A. Etuh and Alhaji Aminu Babangida as Chairman and Vice Chairman respectively effective 23 January
2015.
Mr Thomas Etuh who was appointed Pioneer Vice Chairman of the Board of Directors, Unity Bank Plc
on April 22, 2014 has varied experience, gained from over two decades of contribution to the public
and private sectors of the economy, especially the Agric sector.
An astute businessman and experienced entrepreneur, Mr Etuh has served as a Director in several
companies in Nigeria and has chaired a number of board committees in Unity Bank including Finance
and General Purpose Committee, Board Governance and Nominations Committee amongst others.
Thomas studied Management, Banking and Public Administration at the Ahmadu Bello University,
Zaria, Abubakar Tafawa Balewa University, Bauchi and University of Jos respectively. He holds a Post
Graduate Diploma in Management from the Abubakar Tafawa Balewa University and is currently
pursuing an MBA from the Business School, Netherlands. He has attended several local and
international trainings and is an alumnus of the prestigious London Business School, University of
Navarra, Barcelona, Spain, and the Lagos Business School.
Thomas is a member of various professional bodies such as the Institute of Directors (IoD) and the
Bank Directors Association of Nigeria (BDAN).
ALHAJI AMINU BABANGIDA, VICE CHAIRMAN: Alhaji Aminu Babangida is an Entrepreneur and is
a co-founder/Chief Executive Officer of Phoenix Energy, Abuja and Team Member of the El-Amin
International School, Minna. He has also worked on the trading floor of Trafigura BV, London, UK.
Babangida was appointed to the Board of Unity Bank Plc in 2011 where he has held Chairmanship and
membership positions in a number of board committees including Credit Committee, Audit Committee,
Information Technology & Strategy Committee, etc.
For Further Inquiries Contact: Market Operations Department
Page 7
WEEKLY REPORT
He attended Regents Business School, London and Westminster Business School London where he
obtained a BA in International Business and MA in International Business Management respectively.
He is knowledgeable in the field of oil exploration.
He is a member of the Institute of Directors (IoD) and the Bank Directors Association of Nigeria (BDAN)
and has attended various local and international courses..
LAFARGE AFRICA PLC: Mandatory Tender Offer (MTO) by Lafarge Africa Plc to other
Shareholders of Ashakacem Plc - Further to the official closure of the MTO of Ashakacem Plc on 23
January 2015, Capital Assets Limited has directed that Dealing Members should forward all duly
executed MTO Acceptance Forms received from their clients to the Registrar’s office (address below)
before 1.00 p.m. on Friday 30 January 2015.
Cardinal Stone Registrars Limited
385, Herbert Macaulay Street
Yaba
Lagos
SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC: Statement Regarding Possible
Combination with Afren Plc. - In accordance with the provisions of Section 10 of the Amended Listing
Rules of the Nigerian Stock Exchange, Seplat Petroleum Development Company Plc. (“Seplat” or the
“Company”) notified The Exchange of the announcement by Afren plc (“Afren”) dated 30 January 2015
relating to a Rule 2.6 extension.
Seplat acknowledges that in accordance with Rule 2.6(a) of the UK City Code on Takeovers and
Mergers (the “Code”), by no later than 5.00 pm on 30 January 2015, the Company was required to
either announce a firm intention to make an offer under Rule 2.7 of the Code or announce that it does
not intend to make an offer.
The board of Afren has received the consent of the UK Takeover Panel (the “Panel”) for an extension
to the deadline until 5.00 p.m. on 13 February 2015 to enable the parties to continue their ongoing
discussions. By this time Seplat must either announce a firm intention to make an offer for Afren or
announce that it does not intend to make an offer for Afren, in which case the announcement will be
treated as a statement to which Rule 2.8 of the Code applies.
Seplat notes that this new deadline can be extended with the consent of the Panel in accordance with
Rule 2.6(c) of the Code.
PHARMA DEKO PLC: RIGHTS TRADING - EXTENSION OF CLOSING DATE - The Securities and
Exchange Commission (SEC) approved an extension of the Acceptance period of the above Rights
issue exercise by two (2) weeks . Accordingly, the Offer which was earlier scheduled to close on Friday,
January 30, 2015 would now close on Friday, February 13, 2015.
For Further Inquiries Contact: Market Operations Department
Page 8
WEEKLY REPORT
STERLING BANK PLC: Appointment of Non-Executive Directors - Sterling Bank Plc. (‘’the Bank’’)
notified The Nigerian Stock Exchange of the appointment of Mr Olaitan Kajero and Mrs Tairat Tijani as
Non-Executive Directors on the Board of the Bank.
Olaitan Kajero (Non-Executive Director): Holds a Bachelor of Science Degree in Chemistry from the
University of Lagos and an MBA finance from Olabisi Onabanjo University, Ago Iwoye in Ogun State.
He started his career as Finance and Admin Manager at Communication Associates of Nigeria Limited
in 1997. He went on to serve as General Manager and Group Chief Operating Officer in Aircom Nigeria
Limited between 2001 and 2006, where he was responsible for general business development and
managing the day to day activities of the Company.
He is presently the Managing Director of STB Building Society Limited, a position he held since 2006.
Tairat Tijani (Non-Executive Director): Graduated from the Lancaster University with Honours in
Accounting, Finance & Economics. She also graduated with a Distinction in MBA, International
Business from the University of Birmingham. She is a member of the Association of Chartered Certified
Accountants (ACCA) and the Institute of Chartered Secretaries & Administrators of Nigeria.
Mrs Tijani has garnered significant experience as an operator in the Capital Market. She was formerly
the Head, Capital Markets Division of FBN Capital (a subsidiary of FBN Holdings Plc.)
For Further Inquiries Contact: Market Operations Department
Page 9