Breaking News
Translate

NSL set to undertake share reconstruction

…Share value dips by N10bn

By Michael Eboh

National Sports  Lottery Plc has announced its plans to undertake a share reconstruction exercise within the next three months.

Speaking during the presentation of the facts behind its figures on the Nigerian Stock Exchange (NSE), Monday, Managing Director of the company, Mr. Odunlami Kola-Daisi disclosed that the share reconstruction exercise which is designed to reduce the number of its shares would also ensure improved returns for its shareholders in the coming years.

He said, “We are undertaking a share reconstruction exercise within the next three months, this is with a view to reducing the number of our shares. This share reduction will boost our Earnings Per Share (EPS) and Dividends Per Share (DPS), ensuring attractive rewards for our shareholders in the years.”

He further disclosed that it plans to deploy its newly introduced lottery terminals to every state of the federation, commencing with Imo, Enugu, Anambra, Ogun, Ondo, Edo among others in the coming year.

Kola-Daisi noted that all the newly acquired terminals have been deployed and currently operating in Lagos, and has helped boost its earnings significantly.

Meanwhile, the declining trend in the Nigerian Stock Exchange (NSE), eases slightly, as equities’ value dipped, Monday, by N9.61 billion.

Equities’ value, represented by the market capitalisation dropped by 0.19 per cent, from N4.914 trillion to close at N4.904 trillion.

The All-share index also depreciated by 0.19 per cent, dropping by 40.38 basis points from 20,659.09 points at which it opened to close at 20,618.71 points.

Nestle Nigeria Plc recorded the highest share price loss, dropping by N11.95 to close at N227.05 per share, Flour Mills Nigeria Plc followed with a loss of N1.50 to close at N33.00 per share and Guinness Nigeria Plc dipped by N1.00 to close at N129.00 per share.

Other share price losers include: UAC Property Development Company Plc N0.95, Lafarge Cement WAPCO Plc N0.46, Incar Plc N0.34, Access Bank Plc N0.32, Ashaka Cement Plc N0.30, Nigerian Aviationa Handling Company Plc N0.14 among others.

Benue Cement Company Plc, on the other hand, recorded the most share price gain, rising by N0.89 to close at N43.40 per share, United Bank for Africa Plc followed with a gain of N0.52 to close at N11.02 per share and Longman Nigeria Plc garnered N0.45 to close at N9.45 per share.

Other share price gainers include: Nigerian Breweries Plc N0.22, National Salt Company Plc N0.20, Diamond Bank Plc N0.18, Fidelity Bank Plc N0.11, International Breweries Plc N0.10, Ecobank Transnational Incorporated N0.10, Skye Bank Plc N0.10 among others.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.