2020FY results: Wema bank, Union Bank announce closed period

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Wema Bank Plc and Union Bank of Nigeria Plc have announced closed period as full year ended December 31, 2020 financial year results on the Nigerian Stock Exchange (NSE).

Specifically, Company Secretary/Legal Adviser, Wema Bank, Johnson Lebile  in a notice to The Exchange on Monday said, “This is to inform The NSE and the investing public that a meeting of the Board of Directors of Wema Bank has been scheduled for Monday, 25th February 2021 at 10.00 a.m. at Lagos to consider and approve the Group’s Unaudited Financial Statements for the quarter ended 31st December 2020 along with other corporate actions.

“The Company has declared the Closed Period from 10th February 2020 to 24hours after the Bank’s financials and other information have been made public in line with the Rulebook of The Exchange.

Accordingly, no director, employee, person discharging managerial responsibility and adviser of the Bank and their connected persons may directly or indirectly, deal in the shares of the Bank in any manner during the Closed Period.”

Also, the Company Secretary, Union Bank of Nigeria, Somuyiwa Sonubi, in a statement on Monday said, “In compliance with the NSE Rule Book and the Amendments to the Listing Rules, Union Bank of Nigeria hereby notifies The NSE and our esteemed stakeholders that the Board of Directors of Union Bank of Nigeria Plc is scheduled to meet on Tuesday 23rd February 2021 to approve the Audited Financial Statements and Reports for the year ended 31st December 2020.

“Consequently, there will be a closed period in respect of which no insider of Union Bank of Nigeria Plc may buy and or sell shares of the Bank from 8th February 2021 to 24 hours after the filing of the Audited Reports and Financial Statements with The Exchange.”

The share prices of Wema Bank and Union bank of Nigeria closed at N0.65 and N5.80  respectively on Monday.