UBA’s Non-Executive Director acquires additional shares worth N3.83m

A Non-Executive Director of United Bank for Africa Plc (UBA), Caroline Anyanwu has increased her stakes in the leading Pan-African Bank with the purchase of 500,000 additional shares of the bank.

This is according to a Notification of Share Dealing by an Insider, signed by the company secretary, Mr. Bili Odum, and published on the website of the Nigerian Exchange Group Limited (NGX)

According to the notice, the Non-Executive Director increased her stakes in UBA with the acquisition of 500,000 additional shares of the bank at N7.65 per share, on the floor of the NGX. This puts the total consideration for the shares purchased by Anyanwu at N3, 825,000.

It is imperative to note that dealings by insiders of listed companies are corporate actions that are required to be disclosed by the management of the company. In this light, the disclosure is in compliance with the Exchange’s prespecified policy, and will help to cement the Director’s position as one of the substantial shareholders of the banking giants.