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Events reported to the NSE November 11-15, 2019

Forte Oil appoints Deloitte and Touche as the new external auditors: The board of Forte Oil has appointed Deloitte & Touche as its new external auditors. Deloitte replaced PKF Professional Services which was the former external auditors. The decision to appoint Deloitte as the new external auditors was reached at the company’s 40th Annual General Meeting held on September 3, 2019.

Airtel Africa announces interim dividend currency exchange rates: Airtel Africa has announced the currency exchange rate that will be applicable for the payment of the first half year interim dividend. For shareholders holding their shares on the Nigerian Stock Exchange (NSE) without valid Nigerian certificate for capital importation (CCI) will be paid in Naira as the default currency at the exchange rate of 1USD to N306.40. For shareholders on the NSE with valid CCI, with evidence of CCI which must be provided to the company’s registrars, those will be paid in US dollars. However, such shareholders may opt to receive their dividend payment in Naira (partial receipt not permissible). In addition, shareholders holding their shares on the London Stock Exchange will be paid in US dollars as the default currency. Airtel Africa adopted the exchange rates applicable to the US dollars on November 13, 2019 to determine the naira/US dollar exchange rate. The closing date for dividend currency election to the company’s registrars is November 22,2019.

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Seplat announces Q3 interim dividend currency exchange rates: Seplat Petroleum Development Company, a leading Nigerian independent oil and gas company listed on both the Nigerian Stock Exchange and London Stock Exchange, has announced an amendment to the initial exchange rates for the payment of its Q3 interim dividend. According to the new notice, the correct exchange rate is 1USD equals to 0.7794GBP or 1GBP equals to 1.2831USD. In addition, 1USD equals to N306.40. The company adopted the exchange rates applicable to the US dollar on November 8 2019. November 27, 2019 remains the closing date for dividend currency election to the company’s registrars.

Airtel Africa to acquire additional spectrum in Nigeria: Airtel Africa Plc has announced an agreement between Airtel networks Limited, a subsidiary of Airtel Africa, and Intercellular Nigeria Limited, to acquire additional 10 MHz spectrum in the 900MHZ band in Nigeria for consideration of $70 million, excluding NCC fees as per the NCC Spectrum Trading Guidelines. The transaction is subject to the regulatory approval by the Nigerian Communications Commission (NCC).

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ETI appoints Laurence Do Rego as Group Chief Regulatory and Compliance Officer: Ecobank Transnational Incorporated (ETI) has announced the appointment of Laurence Do Rego as Group Chief Regulatory and Compliance Officer with immediate effect. A seasoned banker with over 30 years of experience, she joined the pan African bank in 2002 as financial controller for Ecobank Benin. She has since held various senior positions within the group. Laurence Do Rego holds a bachelor and post graduate degrees in finance and accounting. “She is well versed to effectively manage the group’s regulatory and compliance function”, ETI says.

 

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