WEEKLY REPORT

STOCK MARKET REPORT FOR JANUARY 23RD, 2015

EQUITIES
A turnover of 2.119 billion shares worth N 25.941 billion in 21,044 deals were traded this week by
investors on the floor of The Exchange in contrast to a total of 1.663 billion shares valued at N16.585
billion that exchanged hands last week in 23,591 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.399 billion shares
valued at N8.686 billion traded in 12,352 deals; thus contributing 66.02% and 33.49% to the total equity
turnover volume and value respectively. The Oil & Gas Industry followed with a turnover of 440.331
million shares worth N9.691 billion in 1,681 deals. The third place was occupied by the Consumer
Goods Industry with 100.492 million shares worth N5.384 billion in 3,392 deals.
Trading in the Top Three Equities namely- Oando Plc, Mutual Benefits Assurance Plc, and Access Bank
Plc (measured by volume) accounted for 930.333 million shares worth N8.953 billion in 1,956 deals,
contributing 43.89% and 34.51% 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

Declined
Stocks

Unchanged
Stocks

19-Jan-15

4,391

426,248,151

3,426,143,824.33

112

32

15

65

20-Jan-15

4,640

311,514,644

4,135,062,572.41

95

21

26

48

21-Jan-15

3,901

229,482,210

3,290,333,922.48

95

19

26

50

22-Jan-15

4,030

410,585,359

2,471,946,240.51

106

14

24

68

23-Jan-15

4,082

741,576,602

12,617,700,081.81

106

26

20

60

Distribution of Quantity Traded

FINANCIAL SERVICES

5%

OIL AND GAS

CONSUMER GOODS

OTHERS

8%

21%

For Further Inquiries Contact: Market Operations Department

66%

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WEEKLY REPORT
ETPs
Also traded during the week were a total of 256 units of Exchange Traded Products (ETPs) valued at
N317,430.39 executed in 21 deals compared with a total of 19,856 units valued at N1.429 million
transacted last week in 31 deals. (See summary in the table below).
S/N

Security

Deals

Volume

Value

NEWGOLD

133

310,691.00

STANBICETF30

60

6,000.00

VETGRIF30

38

511.34

LOTUSHAL15

25

228.05

TOTAL

21

256

317,430.39

RETAIL BONDS
Similarly, a total of 43,850 units of 6 FGN bonds and 1 State bond valued at N40.472 million were
executed in 7 deals compared with a total of 30,650 units of FGN bonds valued at N22.872 million
transacted last week in 5 deals. (See table below).
S/N

Security

Deals

Volume

Value

FG7B2030S3

15,000

10,336,930.94

FG9B2022S1

10,850

12,083,695.12

FG112024S1

10,000

9,822,635.36

FG102016S1

7,500

7,707,022.41

LAB2019S1

500

521,487.73

TOTAL

43,850

40,471,771.56

INDEX MOVEMENT
The NSE All-Share Index and Market Capitalization appreciated by 2.68% to close on Friday at
29,812.05 and N9.930 trillion respectively.
Similarly, all indices finished higher during the week with exception of the NSE Oil & Gas index that
dipped by 1.36%, while NSE ASeM Index closed flat. (See summary of Index movements in the table
below).
WEEK
OPENING

WEEK
CLOSE

WEEKLY
CHANGE

WtD

The NSE All-Share Index (ASI)

NSE 30 Index
NSE Banking Index
NSE Insurance Index

29,034.89
1,305.23
286.21
139.87

29,812.05
1,347.79
307.02
144.53

777.16
42.56
20.81
4.66

2.68
3.26
7.27
3.33

% Change
-13.98
-13.98
-13.78
-13.78
-12.63
-12.63
-3.42
-3.42

-13.98
-13.78
-12.63
-3.42

NSE Consumer Goods Index

770.51

785.63

15.12

1.96

-13.05

-13.05

-13.05

NSE Oil/Gas Index

NSE Lotus II

362.14
1,900.68

357.22
1,931.05

-4.92
30.37

-1.36
1.60

-6.02
-13.94

-6.02
-13.94

-6.02
-13.94

NSE Industrial Goods Index

1,829.61

1,894.37

64.76

3.54

-11.46

-11.46

-11.46

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

MtD

QtD

YtD

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WEEKLY REPORT

The NSE All-share and NSE-30 Indices

Week Ended January 23rd, 2014

30,000.00

1,360.00
1,350.00
1,340.00
1,330.00
1,320.00
1,310.00
1,300.00
1,290.00
1,280.00

29,800.00
29,600.00
29,400.00
29,200.00
29,000.00
28,800.00
28,600.00

ASI NSE-30
NSE-30

SUMMARY OF PRICE CHANGES

Thirty-five (35) equities appreciated in price during the week higher than fifteen (15) equities of the
preceding week. Thirty-one (31) equities depreciated in price lower than fifty-three (53) equities of the
preceding week, while one hundred and thirty (130) equities remained unchanged higher than one
hundred and twenty-seven (127) equities recorded in the preceding week.
Top 10 Price Gainers

Company
UAC OF NIGERIA PLC
GUARANTY TRUST BANK PLC
MANSARD INSURANCE PLC
FLOUR MILLS NIGERIA PLC
N.E.M INSURANCE CO.(NIG) PLC
LAFARGE AFRICA PLC
UNILEVER NIGERIA PLC
ZENITH INTERNATIONAL BANK PLC
UACN PROPERTY DEVELOPMENT CO. PLC
AIRLINE SERVICES AND LOGISTICS PLC

For Further Inquiries Contact: Market Operations Department

Open
30.98
17.90
2.85
35.64
0.53
76.00
32.00
16.48
8.10
1.65

Close Gain (N)

37.00
6.02
21.00
3.10
3.15
0.30
38.80
3.16
0.57
0.04
81.00
5.00
34.00
2.00
17.50
1.02
8.60
0.50
1.75
0.10

% Change
19.43
17.32
10.53
8.87
7.55
6.58
6.25
6.19
6.17
6.06

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WEEKLY REPORT

Top 10 Price Decliners

Company
DANGOTE FLOUR MILLS PLC
R. T. BRISCOE (NIG.) PLC
IKEJA HOTEL PLC
WEST AFRICAN PROVINCIAL INSURANCE PLC
A. G. LEVENTIS (NIGERIA) PLC
CHAMPION BREWERIES PLC
LEARN AFRICA PLC
CADBURY NIGERIA PLC
INTERNATIONAL BREWERIES PLC
RED STAR EXPRESS PLC

Open
3.91
0.84
3.10
0.57
1.29
6.51
1.34
42.00
21.89
3.99

Close Loss (N)

3.19
-0.72
0.70
-0.14
2.70
-0.40
0.53
-0.04
1.20
-0.09
6.08
-0.43
1.27
-0.07
39.90
-2.10
20.80
-1.09
3.80
-0.19

% Change
-18.41
-16.67
-12.90
-7.02
-6.98
-6.61
-5.22
-5.00
-4.98
-4.76

SUPPLEMENTARY LISTING
BONDS
Total amounts of N480,133,082,000.00; N434,684,128,000.00; and N206,000,000,000.00 were added
to the following bonds: 15.10% FGN APR 2017, 14.20% FGN MAR 2024, and 12.1493% FGN JUL 2034
respectively on January 20th, 2015.

FINANCIAL NEWS
UNAUDITED ACCOUNT
NORTHERN NIGERIA FLOUR MILLS PLC: UNAUDITED FINANCIAL STATEMENTS FOR THE
PERIOD ENDED 31 DECEMBER, 2014- 000 Revenue 2014 N10,764,992 2013 N8,414,402 Profit
After Tax 2014 N209,297 2013 N231,492

AUDITED ACCOUNT
ASO SAVINGS AND LOANS PLC: AUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED
31 DECEMBER, 2013 - 000 Revenue 2013 N10,299,129 2012 N10,157,867 Profit After Tax 2013
N207,509 2012 (N117,143)

For Further Inquiries Contact: Market Operations Department

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WEEKLY REPORT
OTHER MARKET NEWS
MANSARD INSURANCE PLC: Notice of Proposed Acquisition - Mansard Insurance Plc notified The
Nigerian Stock Exchange that it has completed its acquisition of 60% of Penman Pensions Limited.
The Company states that this acquisition extends its subsidiaries to four (4), having already made
significant inroads into Asset Management, Health Insurance and Property segments through its wholly
owned subsidiaries (Mansard Investments Limited and Mansard Health Limited) as well as its majority
holding in the property joint ventures, APD Ltd.
OANDO PLC: Oando Rights Issue of 2,217,265,184 Ordinary Shares of 50 Kobo each at N22.00
per share Extension of Acceptance Period - Vetiva Securities Limited, has on behalf of Oando Plc,
notified The Nigerian Stock Exchange that the Securities and Exchange Commission (SEC) has
approved an extension to the Acceptance period of the Rights Issue by two (2) weeks. Accordingly, the
Offer which was earlier scheduled to close on Wednesday 14 January 2015 would now close on
Wednesday 28 January 2015.
In line with the extension of Acceptance period, trading in Rights of the shares of Oando Plc on the
secondary market has been extended by a corresponding period of two (2) weeks.
COURTEVILLE BUSINESS SOLUTIONS PLC: Change of Registered Office Address - Courteville
Business Solutions Plc notified The Nigerian Stock Exchange that it has changed its registered address
from 90, Olonode Street, Alagomeji, Yaba Lagos to a new corporate Head Office at 38, Commercial
Avenue, Sabo Lagos.

UNITED BANK FOR AFRICA PLC: Appointment of a New Director: High Chief Samuel Oni, FCA United Bank for Africa Plc (the Bank) notified The Nigerian Stock Exchange that its Board of Directors
at a meeting held on Friday, 16 January, 2015 appointed High Chief Samuel Oni, FCA as a NonExecutive Director subject to the approval of the Central Bank of Nigeria (CBN).
High Chief Oni who holds an MBA (Finance) from the University of IIorin started his working career as a
corps member with Nigeria Airways, Kano (1978-1979) before becoming the Principal Accountant at the
Defence Industry Corporation of Nigeria, Kaduna (1979 1982).
Between 1982 and 1989, he was the Chief Accountant/Secretary to the Board, Kwara Brewery Ltd,
Ilagbo-Offa and was the Financial Controller, Kwara State Agricultural Development Project from 1990
1993. He joined the CBN as an Assistant Director in 1993 and rose to the position of Director, Banking
Supervision in 2011.
STANBIC IBTC HOLDINGS PLC: Notice of Proposed Board Meeting - Stanbic IBTC Holdings Plc
notified The Nigerian Stock Exchange that its Board of Directors will meet on Wednesday, 4 February
2015 to consider the companys financial statements for the year ended 31 December 2014.
Issues relating to the declaration of dividend and other corporate actions may be discussed at the
meeting.

For Further Inquiries Contact: Market Operations Department

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WEEKLY REPORT

SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC: Statement Regarding Possible

Combination with Afren Plc - Seplat Petroleum Development Company Plc (Seplat or the
Company), in accordance with the provisions of Section 10 of the Amended Listing Rules of The
Nigerian Stock Exchange, notes the announcement by Afren Plc (Afren) dated 19 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 19 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 30 January 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.

AIICO INSURANCE PLC: US$20,000,000 Convertible Loan by the International Finance

Corporation to AIICO Insurance Plc - AIICO Insurance Plc (the Company) notified The Nigerian
Stock Exchange that it is currently in discussions with the International Finance Corporation (IFC) for
the grant of a US$20,000,000 convertible loan to the Company.
Under the arrangement, IFC has an option to convert any unpaid part of the loan advanced to the
Company into equity holdings in the Company.
Further information relating to the proposed loan facility will be communicated to the market in due
course.

C & I LEASING PLC: C & I Leasing Signs New Contract with Nigerian Petroleum Development
Company - The Company notified The Nigerian Stock Exchange that it has been commissioned by the
Nigerian Petroleum Development Company (NPDC) to provide two (2) Anchor handling Tugs and supply
vessels which will provide offshore support for the companys drilling and completions operations in
OML-119, Okono Offshore Field Location.
According to the Company, this contract which commenced on 14 January 2015, will run for a 12
months renewable period and will offer the management of C & I Leasing an opportunity to further
exhibit the companys commitment to providing quality offshore support services to its clients.

For Further Inquiries Contact: Market Operations Department

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WEEKLY REPORT
UTC NIGERIA PLC: Appointment of New Directors - UTC Nigeria Plc notified The Nigerian Stock
Exchange of the appointment of the following Directors into the Board of the Company:

Mr Olaoluwa Akinkugbe (Chairman)

Ms Imoni Akpofure

Mr Offong Ambah

Ms Olubunmi Fayokun

Ms Olatoyosi Kolawole

Mr Adedotun Sulaiman

Mr. Olaoluwa Akinkugbe is the Chairman/CEO of L.A. Consultancies Limited. With over three decades
experience, Olaoluwa commenced his career in 1971 at Nestle Nigeria, before joining Nigerian Bottling
Company in 1973, and ultimately Coca-Cola International as External Affairs Director for Nigeria, but
with portfolio spanning the English West Africa in the areas covering Government Affairs, Corporate
Social Responsibility, Media and Communications. Upon retirement in March 2006, he was appointed
on the Board of Nigerian Bottling Company as a Non-Executive Director.
A 1971 Social Science (Sociology, Economics, French) graduate of the University of Ibadan, Laolu had
his postgraduate studies in Management at the Cranfield University, Bedford, England in 1976. He is
also a 1996 graduate of the Advanced Management Program; AMP of Lagos Business School.
He is on the Boards of many blue chip companies and associations, including Mouka Nigeria Limited
and Lagos Business School Alumni Association. He is currently the National President of the Nigerian
American Chamber of Commerce.
Ms Imoni Akpofure holds a Bachelors degree in Civil Engineering from Imperial College, London,
Master of Science degree in Environmental Engineering from Newcastle University, UK, and MBA from
INSEAD, France and practiced as a chartered civil engineer in UK before returning to Nigeria.
Prior to her return to Nigeria to consult independently, Ms Imoni Akpofure was based in Paris, as
Director for Western Europe at the IFC, with responsibility for managing IFCs relationships with Western
European shareholders and donors, business development with, and relationship management of
European companies, as well as building partnerships with other stakeholders in Europe.
She has served in various capacities in IFC, including Country Manager based in Accra, Ghana,
coordinating IFCs strategy and business in Benin, Burkina Faso, Cote divoire, Ghana, Republic of
Guinea, Liberia, Niger, Sierra Leone and Togo; Manager of the Market Development Group in the
Environment and Social Development. She also served as Country Manager in IFCs regional office
based in Johannesburg, South Africa and as IFCs Regional Representative based in Harare, Zimbabwe
with specific responsibility for Malawi, Zambia and Zimbabwe.
Ms Imoni has served as a Trustee on the Board of Newmont Ahafo Development Foundation (NaDEF)
in Ghana, and was a Trustee on the African Training and Management Services Foundation (Stichting
ATMS), The Netherlands.
For Further Inquiries Contact: Market Operations Department

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WEEKLY REPORT
Mr Offong Ambah is the founder and Chief Executive Officer of Marine Networks Limited, an
indigenous oil services company. He was also the Group Chief Executive Officer of Old Mutual West
Africa.
Prior to Old Mutual, he served as an Executive Director on the board of Ecobank Transnational
Incorporated, and as Chief Executive of Ecobank Capital. In the latter role, he had responsibility for the
Pan African banking groups Investment Banking, Treasury, Asset Management & Research activity
across its 32 Country Africa network, as well as 5 international representative office locations. He was,
prior to the creation of Ecobank Capital, the Managing Director of Ecobank Nigeria Plc.
Offong, before his return to Ecobank in 2005, had been appointed the Interim Chairman of the Board of
Directors of Allstates Trust Bank by the Central Bank of Nigeria, and had previously served as an
Executive Director of United Bank for Africa Plc.
He spent the early part of his career at the International Merchant Bank and City Trust Merchant Bank in
Nigeria.
Ms Olubunmi Fayokun: Olubunmi graduated from the University of Ife, IIe-Ife, Nigeria in 1984 with a
bachelors degree in law and was admitted to the Nigerian Bar in 1985.
She is a partner in the corporate and commercial department of Aluko & Oyebode, with extensive
experience in energy and natural resources law. She heads the firms capital market and M&A practices.
She also advices on matters pertaining to project and infrastructure finance, banking, power, aviation,
public-private partnerships (PPPs) and privatisation.
Over the years, Olubunmi has advised on a significant number of energy transactions, including; the
development of a greenfield Independent Power Production (IPP) project; the prospective acquisition by
an international power company of assets of the Nigerian National Integrated Power Project; the
development, financing and implementation of the IPP project in Nigeria; KNOCs acquisition of two
deep-sea oil blocks in Nigeria; and the acquisitions, by various international oil
companies, of participating interests in Nigerian Oil blocks. She continues to advise major oil and gas
companies operating in Nigeria.
Olubunmi advised Access Bank Plc on its US$300 million acquisition of Intercontinental Bank Plc
(awarded the 2012 M&A Deal of Year for Africa by the Banker Magazine). She also advised on
Guaranty Trust Banks US$400 Eurobond issue; First City Monument Banks debut Eurobond Issue; the
establishment of Access Banks US$1 billion Eurobond programme; and is currently advising on a
variety of innovative M&A transactions in various industry sectors.
She is a member of the Nigerian Bar Association (NBA), International Bar Association (IBA) and the
Association of International Petroleum Negotiators. She chairs the capital market committee of the
Nigerian Bar Association section on business law, treasurer of the Capital Market Solicitors Association
and has served on various committees established by the Nigerian Securities and Exchange
Commission.
Ms Olatoyosi Kolawole: Toyosi Kolawole is the Managing Director of Avdeo Energy Ltd. She was
previously a principal consultant and co-founder of Integrated Business Strategies (IBS). Prior to IBS
she was a management consultant in the financial institutions group at A.T Kearney. Toyosi also worked
For Further Inquiries Contact: Market Operations Department

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WEEKLY REPORT
for Guaranty Trust Bank as an independent strategy consultant, serving small to medium companies in
the retail and food industries. Her industry expertise includes banking, oil and gas, and education.
Toyosi holds an MBA from the MIT Sloan School of Management in Cambridge Massachusetts, USA, a
postgraduate diploma in business administration from the University of Manchester, UK, and a
bachelors degree in food science and technology from the Obafemi Awowolo University, Ife, Nigeria.
She is a fellow of the third class of the Africa Leadership Initiative - West Africa and a member of the
Aspen Global Leadership Network.
Mr. Adedotun Sulaiman is a renowned management consultant and expert in organizational
development, enterprise transformation and business process re-engineering. Dotun is a distinguished
alumnus of the University of Lagos; he obtained a First Class Honours Degree in Business
Administration in 1975. Dotun also qualified as a Chartered Accountant in 1978. He attended the
Programme for Management Development (PMD) at the Harvard Business School in 1990.
Sulaiman chairs the boards of several companies, traversing several sectors of the economy with major
emphasis on the emerging electronic payments industry and companies in the entrepreneurial stage. He
started his professional career as a diplomat, including a stint at the Nigerian Embassy in Washington
DC as a consular officer between 1976 and 1978. In late 1978, he joined the Management Information
Consulting. He took over from the founding Managing Partner, the celebrated Dick Kramer in 1993 and
remained Country Managing Partner for both
Arthur Andersen, the Audit and Tax firm as well as Andersen Consulting until 1999 and became the
Country Managing Partner of Accenture with the separation of the consulting business from Arthur
Andersen Worldwide Organisation. He remained the Country Managing Director of Accenture, the new
name of the newly independent Management and Technology consulting arm until his retirement in
March 2005 from his executive leader of Accenture in Nigeria.
He was a founding member of the Nigerian Economic Summit Group and was a member of the
Summits Board since inception in 1993 until December 2006. He was also a member of the Board of
Governors of the Musical Society of Nigeria (MUSON) until December 2006 and a Trustee of the Corona
Schools Trust. He is a recipient of the national honour of Member of the Order of the Federal Republic
(MFR).
Meanwhile, UTC Nigeria Plc also notified The Exchange of the resignation of the following directors from
the Board of the company:

Apostle Hayford Alile

Mr. Fola Adeola

Engr. Kadri Adebayo Adeola

Mr. Deji Alli

Mr. Bode Adedeji

Mr. Victor Gbolade Osibodu

For Further Inquiries Contact: Market Operations Department

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WEEKLY REPORT

STANDARD ALLIANCE INSURANCE PLC: Appointment of new Company Secretary - Standard

Alliance Insurance Plc notified The Nigerian Stock Exchange that following the resignation of Ms Agnes
Umukoro as Company Secretary, Ms Nwadiuto Onuoha has been appointed as the Companys new
Company Secretary with effect from 30 December 2014.
Nwadiuto is a 1997 law graduate (LL.B) of Abia State University and she attended the Nigerian Law
School Abuja (1998 1999) where she obtained a bachelor of Law (BL) degree. She also obtained an
LL.M in Computer and Communications Law, from the University of London (2003 2004).
Nwaduto started her working career as a Legal Officer at Fountain Trust Bank Plc (now Spring Bank) as
a Corps Member (February 2000 November 2000). From January 2001 to September 2001 she was at
P.G.U. Madu & Associates, Lagos as Associate Solicitor and from September 2001 to September 2003
she became one of the pioneer staff of Airtel Nigeria as Legal Officer/Site Acquisition Specialist. She
went on to become Airtels Government Relations Research Specialist (October 2004 August 2005)
and Senior Manager, Market Regulation (August 2005 November 2007).
Nwadiuto joined Visafone as AGM Legal & Regulatory where she worked from 2007 2011. From 2011
to 2013, Nwadiuto was the Chief Legal & Regulatory Officer (WECA) as Country Interconnect Clearing
Company. She joined UnoTelos Limited, Nigeria/Ghana/Kenya where she was from March 2013
December 2013 as Chief Corporate Affairs Officer. From January 2014 to May 2014 she was Chief
Legal and Regulatory Officer at Helios Towers Nigeria Limited, and was appointed the Company
Secretary/Legal Adviser of Standard Alliance Insurance Plc in December 2014.

UNION REGISTRARS LIMITED: Change of Name from Union Registrars Limited to GTL Registrars
Limited - Sequel to the resolution passed at its Extraordinary General Meeting held on 9 September
2014, Union Registrars Limited notified The Nigerian Stock Exchange that it has changed its name to
GTL Registrars Limited.
This follows the divestment of Union Bank of Nigeria Plc, the erstwhile parent company of Union
Registrars Limited.
The company states that its registered address remains No. 2 Burma Road Apapa Lagos while its
website address has changed to www.gtlregistrars.com.

For Further Inquiries Contact: Market Operations Department

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