United Capital boss purchases 1m additional shares worth N5.17m

By Kayode Tokede

The Chief Executive Officer, United Capital Plc, Peter Ashade, has purchased an additional one million units of the company’s shares, worth N5.17 million.

The information is contained in a notification sent to the Nigerian Stock Exchange (NSE) and signed by the Company’s Secretary, Leo Okafor.

The breakdown of the transaction which occurred on 14th of January 2021, showed that the shares were sold at N5.17 per unit of shares.

Ashade, on 3 November 2020, purchased 2,100,000 units of the firm’s shares worth N8.55 million, spread across two deals.

He has spent a combined sum of N13,718,800 on the purchase of additional 3,100,000 units of United Capital Shares in the last three months.

United Capital shares currently trade at N5.20, down by N0.09k, from its opening price of N5.29, indicating a decline of 1.7per cent.

The announcement of the recent insider dealing is part of the corporate governance mechanisms instituted by the NSE to ensure transparency and accountability. Institutions quoted on the NSE and other exchanges are required to notify the general public of such transactions.