Alegbesogie Joseph Igbinigesu, a non-executive director, of Vitafoam Nigeria Plc, acquired 188,700 ordinary shares in the company in accordance with the Nigerian Stock Exchange policy on insider dealings.
In a note signed by the Company Secretary/Legal Adviser, Olalekan Sanni, Mr. Igbinigesu purchased the shares in eight different transactions on August 18, 2020, at various prices and volumes from the Nigerian Stock Exchange in Lagos.
Vitafoam is one of Nigeria’s largest foam manufacturers, producing both flexible and rigid polyurethane products.
Break down of the transactions
- 1,700 shares – N5.20k each.
- 47,300, 46,700, 3,300, 50,000, and 29,000 – N5.20k each
- 3,865 and 5,835 – N5.25k each
Total shares purchased by Mr. Igbinigesu on August 18, 2020, sums up to 188,700 shares at an average price of N5.21k.
Recall also that, Dr. B.O. Makanjuola, a non-executive director of the company, bought 47,493 shares in the company in five transactions similar to the nature of shares purchased by Mr. Joseph Igbinigesu.
Stock price of Vitafoam remains static yesterday 5.45 with 46 transactions involving 1,022,403 shares valued at N5,308,396.58.