Insider Dealing: UBA Executive Director Purchase 3,000,000 Shares

Must Read

Ogun State Resumes Monthly Environmental Sanitation this Saturday

After a long break due to COVID-19 pandemic, the Ogun state government says the monthly Environmental sanitation exercise will...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

United Bank for Africa (UBA) Plc on Thursday announced that one of its executive directors purchased total shares of 3,000,000 between July 15, 2020.

This was disclosed in a statement signed by Bili A. Odum, Company Secretary, United Bank for Africa Plc and released on the Nigerian Stock Exchange’s website. The bank said Ayoku Liadi, an Executive Director of the company, bought 3,000,000 shares at N6.05 a unit through the Nigerian Stock Exchange.

Insider Dealing: UBA Executive Director Purchase 3,000,000 Shares - Brand Spur
Liadi Ayoku

Ayoku Liadi was the Managing Director, Guaranty Trust Bank, Sierra Leone Limited where he led the bank to win the most profitable bank in Sierra Leone in 2013, as well as Financial Institution of the year in 2013, and The Most Customer-Focused Bank Award in 2012 by KPMG. He also had a stint at Zenith Bank and rose to the position of Deputy General Manager in 2006.

Similarly, Tony Elumelu, Chairman of the Bank, purchased a total of 71,823,300 Shares of the Bank, valued at N444,845,470.00 in the month of July.

- Advertisement -

For investors, one of the few indicators of a firm’s share price prospects lies in whether their directors “put their money where their mouths are” – that is, buy shares in the companies they oversee, even when all the news is doom and gloom and the shares are sliding in price.

Read Also:  Nigerian banks agree to extend 9mobile’s loan till it finds new investors

In buying shares in their own firms, they are signalling they have confidence in the company’s future – and that the share price they are buying at represents good value.

Although some of this buying may be an attempt by bosses to instil confidence in their firm’s shares, it can also be read as a signal that share prices are close to bottoming out and represent a buying opportunity for brave investors.

- Advertisement -
Insider Dealing: UBA Executive Director Purchase 3,000,000 Shares - Brand SpurInsider Dealing: UBA Executive Director Purchase 3,000,000 Shares - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

2 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Insider Dealing: UBA Executive Director Purchase 3,000,000 Shares - Brand SpurInsider Dealing: UBA Executive Director Purchase 3,000,000 Shares - Brand Spur

Latest News

Bear paints global stocks market red amid slow global recovery prospect

Major stock markets across the world this week witnessed significant profit-taking, as investors thronged towards safe-haven assets. This came as...

September PMI shows global recovery remains fragile

The average performance of manufacturing activities in leading economies across the globe in September 2020 shows that global recovery from the disruptive impact of...

Inkblot Partners Netflix for Nigerian Drama

Leading Nigerian film shop, Inkblot Productions, has netted a deal with Netflix to helm a new original drama series for the US streaming platform. ...

Microsoft sees window into future with TD Africa’s Tech Experience Centre

The launch of the Tech Experience Centre, a mega technology project that will see Nigeria play host to cutting-edge technologies from the biggest global...

First International Day For Clean Air Calls For Decisive Global Action To Beat Air Pollution

With extreme air pollution events on the rise, global efforts to reduce pollution and its effects will receive an advocacy boost when, for the...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Insider Dealing: UBA Executive Director Purchase 3,000,000 Shares - Brand SpurInsider Dealing: UBA Executive Director Purchase 3,000,000 Shares - Brand Spur