Insider Dealing: Dvcf Oil & Gas dumps more shares in The Initiates Plc

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Dvcf Oil & Gas Plc, a substantial shareholder in The Initiates Plc (TIP), has reduced its stake further in the company again with the sale of 1,000 shares at ₦0.70 per share on August 21, 2020.

This disclosure was made in the notification (THE INITIATES PLC – NOTIFICATION OF INSIDER DEALINGS) that was sent to the Nigerian Stock Exchange (NSE). The corporate disclosure was signed by the Company Secretary, Olaide Odejobi.

Insider Dealing: Dvcf Oil & Gas dumps more shares in The Initiates Plc
NSE | Insider Dealing Notification

Previously…

DVCF Oil & Gas Plc had earlier reduced its stake in the company with the sale of 547,012 shares at ₦0.70 per share between August 10 and 11, 2020.

A few days ago, Nigeria’s only publicly listed waste management company, The Initiates Plc. (TIP), confirmed that Dvcf Oil & Gas Plc sold 649 units of its Holdings in the company at N0.70 per share.

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On July 27, 2020, DVCF Oil & Gas Plc had earlier sold its 649 units of its Holdings in the company at N0.70 per share. The total amount sold so far sums up to ₦383,362.70.

How’s Q2 2020 Profit and Revenue?

The company declared N14.10m Loss in its Q2 2020 Unaudited results for the period ended June 30th, 2020.

Read Also:  Insider Dealing: Mutual Benefits Assurance Director Acquires 2.5m Shares

In terms of profit, the company’s profit before tax declined by -119.9% to N10.73m while Profit after tax also fell by -231.8% to N14.10m. Its net assets declined by -2.8% from N882m to N857.39m.

Also, revenue declined by -7.7% to N246.35m from N266.99m in the previous quarter.

The Initiates Plc. (TIP) is a professional Waste Management company located in Port Harcourt Nigeria, delivering Waste Management, Industrial Cleaning and Decontamination services to both Private and Public sectors.
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