Elumelu, relatives inject fresh N12.67m to buy 1,811,961 shares

The Board Chairman of United Bank for Africa (UBA), Mr Tony Elumelu and his relatives have further consolidated their holdings in the pan African bank with a purchase of  1,811,961 shares at an average price of N7 per share on Thursday and Friday, April 8 and 9, 2021.

A notification of share dealing by insider filed by the bank showed that about N12,662,832 was spent by the dynasty to purchase the shares.

The breakdown of total spent on the shares by the Elumelu(s) showed that Awele Vivien Elumelu purchased 412,642 shares at N7.0 per share; Nneka Elumelu purchased 245,457 shares at N7.0 per share Onyinyechukwu Elumelu purchased 243,899 shares N7.0 per share; Tamara-Marie Ogechukwu Elumelu purchased 296,409 shares at N7.0 per share; Tony Onyekachukwu Elumelu purchased 36,529 shares N7.0 per share; Tiffany Ogochukwu Elumelu purchased 296,043 shares at N7.0 per share;Toby Onyemaechi Elumelu purchased 36,016 shares at N7.1 per share; and Ugochukwu Elumelu purchased 244,966 shares at N6.9 per share.

On September 23, 2020 that the Elumelu also consolidated his holdings in the bank with a purchase of  4,817,855 shares at N5.9999 per share while eight of his relatives also purchased  746,043 shares at an  average of N6 per share.