Cutix Plc on Wednesday disclosed an insider dealing of 1,525,984 shares in line with the new Nigeria Stock Exchange (NSE) policy.
In a statement signed by Nwokporo Chinwendu, Company Secretary and released through the Exchange, the company said Dr Gilbert Obiajulu Uzodike, (the company founder), purchased a total of 1,525,984 ordinary shares of Cutix Plc at an aggregate price of N1.75, between September 9 and September 15, 2020.
Cutix Plc engages in the manufacture and marketing of electrical, automobile and telecommunication wires, cables, and related products. Its products include aluminium twist cables, armoured cables, bare aluminium conductor, flexible or auto cables, and regular cables.
The company was founded by Gilbert Obiajulu Uzodike and Odi O Nwosu on November 4, 1982, and is headquartered in Nnewi, Nigeria.
- 488,222 shares – N1.75 per unit
- 984,002 – N1.75 per unit
- 42,760 – N1.75 per unit
Apart from Cutix Plc, Gilbert has also founded and managed several other companies. For instance, Adswitch Plc, a company which manufactures electric switchgear, was founded in 1982 by him. The company is quoted on the 2nd tier of the NSE, and Uzodike was the Chairman until 2004.