Cutix CEO sells off shares worth N3.9m

By Kayode Tokede

The Chief Executive Officer of Cutix Plc, Mrs. Oduonye Ijeoma Agnes, has sold off 795,000 units of the company’s shares, valued at ¦ 3.9 million.

This is contained in a notice signed by the company’s secretary, Chinwendu Nwokporo, and forwarded to the Nigerian Exchange Limited (NGX).

According to the disclosure, the transaction which took place on the 5th of October, 2021 at the floor of the NGX, saw the CEO  disposed 795,000 units of shares at an average price of N4.92 per share. This put the total consideration for the shares purchased by the CEO at N3.9million.

It is imperative to note that the disclosure is in line with The Exchange’s policy on insider dealings. It is pertinent because it helps to engender transparency and maintain public trust in the financial system.

As at 31st of July 2021, Mrs. Oduonye Ijeoma Agnes holds about 4,795,000 units of direct shares in Cutix Plc, translating to about 0.39per cent of the total shareholdings in the firm.

Cutix closed trading for the week ended 8th of October, 2021 at N4.85/share on the floor of the NGX.