Major Investor Sells 14.5 million Shares in Mutual Benefits Assurance

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Mutual Benefits Assurance Plc on Thursday announced that Mrs Adedotun Ogunbiyi, a substantial shareholder, sold 14,500,000 ordinary shares of company between September 4 and 7, 2020.

In a note made available on the Nigerian Stock Exchange (NSE), she sold about 14.5 million units of the company’s stocks in her portfolio at a unit price of 21 kobos, September 4 and Monday, September 7, 2020, at the exchange.

According to the audited financial statements of the company for the year ended December 31, 2019, Mrs Ogunbiyi, wife of Chairman of the firm, Mr Akin Ogunbiyi, controls 5.8% stake in the company, amounting to 650,398,460 units.

The Mutual Benefits Assurance Plc also disclosed that one of its directors, Ebube Ezeagwula purchased 2,500,000 UBA shares at N0.21k per share about a week ago.

Transaction details

Major Investor Sells 14.5 million Shares in Mutual Benefits Assurance
SOURCE: NSE | Insider dealing disclosure

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Major Investor Sells 14.5 million Shares in Mutual Benefits Assurance - Brand SpurMajor Investor Sells 14.5 million Shares in Mutual Benefits Assurance - Brand Spur

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