Insider Deals: Group CEO of United Capital Plc Acquires 1.78M Units of Shares

Date:

Peter Ashade, Group CEO of United Capital Plc, a leading African investment banking group providing capital and financing solutions to African governments, companies, and individuals, has increased his stake in the company in accordance with the insider dealing rule by the NSE.

According to the statement released on the Nigerian Stock Exchange, Peter purchased ordinary shares of 1,780,000 units at N 4.08 per unit on November 2, 2020.

Thank you for reading this post, don't forget to subscribe!
Insider Dealing brandspur Group CEO of United Capital Plc Acquires 1.78M Units of Shares
SOURCE: NSE

A peek into United Capital’s Financials

United Capital Plc grew its Gross Earnings and Net Income (i.e. PAT) by 33% and 26% respectively to ₦7.069 billion and ₦3.463 billion compared to the corresponding period of 2019.

Sharp Drop in Other Income Failed to Impact Gross Earnings

Despite the 65% decline in United Capital Plc, Other Income (to ₦308.82 million) relative to the corresponding period of 2019, the company’s Gross Earnings rose by 33% in 9M’2020 to print at ₦7.069 billion compared to ₦5.322 billion reported in 9M’2019.

The increase in Gross Earnings was jointly driven by a 55% surge in Investment Income to ₦74.386 billion, a 62% increase in Fee & Commission Income to ₦2.249 billion, and a 61% spike in Net Interest Margin to ₦125.28 million relative to 9M’2019.

Peter Ashade is an astute investment banker and business leader with 29 years’ cognate experience in Nigeria’s capital market; 14 years as Chief Executive. He is a well-rounded capital market player having participated in various landmark capital market transactions across all segments of the market and a member of various policy-formulating capital market committees. He is reputed for transformational leadership and outstanding execution capabilities.

Insider Dealing brandspurng Group CEO of United Capital Plc Acquires 1.78M Units of Shares

Prior to his appointment as the Group CEO of United Capital, Peter was Managing Director/CEO, Africa Prudential Plc (then UBA Registrars Limited). Peter led the transformation of the business from a subsidiary of UBA Plc to the only listed investor services firm on the Nigerian Stock Exchange. More than 15000% growth in profitability was achieved within eight years.

He championed disruptive innovation in the registrars’ business in Nigeria, pioneering many e-products and successfully achieved the business diversification of Africa Prudential Plc.

Peter recorded a number of landmark achievements at Africa Prudential Plc, including consistent growth in earnings and payment of dividends, and development of the first share registration portal in Nigeria in 2008. Under his leadership, the company also developed GreenPole, the first web-based core registrars operating software in 2016, and the first USSD based product in the Nigerian Capital Market in 2017.

Under his leadership, the company’s blue ocean strategy also produced some giant strides outside the Capital Market space. Africa Prudential ventured into the cooperative space and within a short while, the company developed EasyCoop Cooperative Manager, which is Nigeria’s first independent self-service portal for cooperative thrift and loans societies.

This feat, coupled with the company’s growing reputation in deploying business support solutions resulted in the firm’s appointment as consultant development partners to the International Cooperative Alliance – Africa (Alliance Africa).

Among many other achievements, Peter is a two-time recipient of the Business Day Top 25 CEOs Awards (2014, and 2018). Other awards won by the company include International Quality Crown Award (London, 2013), Best Profit Margin Ratio Company – PEARL Awards 2015, Best Corporate Governance Company in Nigeria – PEARL Award 2015, and Best Registrar Firm in West Africa Award at the 2017 West Africa Innovation and Excellence Awards by the Africa-Canada Trade Alliance.

Peter has a diverse academic and professional background:

  • BSc, Banking and Finance
  • MBA, Marketing
  • MSc, Finance
  • Fellow, Institute of Chartered Accountants of Nigeria
  • Fellow, Chartered Institute of Bankers
  • Fellow, Institute of Capital Market Registrars
  • Associate, Chartered Institute of Taxation of Nigeria
  • Associate, Institute of Directors
  • He is an alumnus of the prestigious Lagos Business School (CEP23, LBS).
    He is currently:
  • Treasurer, Institute of Capital Market Registrars (ICMR)
  • 1st Vice Chairman, Chartered Institute of Bankers of Nigeria (CIBN), Lagos State Branch.
Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

Share post:

Subscribe

Popular

More like this
Related

“Two broke people dating should be a crime” – Cynthia Morgan

March 28, 2024. Azonuchechi Chukwu. Nigerian singer, Cynthia Morgan has explained...

Positive Outlook for Nigeria as Interest-Rate Increases Spark Investor Interest

Nigeria Leads Emerging-Market Rebound Amidst Policy ReformsAs the first...

“West Africa’s Cocoa Crisis: Chocolate Prices Soar Amidst Devastation”

Janet Gyamfi, a 52-year-old cocoa farmer from western Ghana,...

Nigeria’s New Mining Licensing Strategy: A Shift Towards Local Processing

Nigeria is shifting its mining licensing process to prioritize...
Social Media Auto Publish Powered By : XYZScripts.com

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading