United Capital CEO Acquires 1M additional shares worth ₦5.17M

Must Read

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...

Here is a list of all Microfinance Banks’ USSD Codes in Nigeria.

A Microfinance bank is a type of bank that offers small loans, or microloans, to individuals, entrepreneurs and small...

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...
- Advertisement -
Peter Ashade, Group CEO of United Capital Plc, a leading African investment banking group providing capital and financing solutions to African governments, companies, and individuals, has increased his stake in the company in accordance with the insider dealing rule by the NSE.

According to the statement released on the Nigerian Stock Exchange, Peter purchased ordinary shares of 1,000,000 units at N 5.17 per unit on January 14, 2021.

United Capital CEO Acquires 1M additional shares worth ₦5.17M

United Capital’s Financials

United Capital Plc grew its Gross Earnings and Net Income (i.e. PAT) by 33% and 26% respectively to ₦7.069 billion and ₦3.463 billion compared to the corresponding period of 2019.

Sharp Drop in Other Income Failed to Impact Gross Earnings

Despite the 65% decline in United Capital Plc, Other Income (to ₦308.82 million) relative to the corresponding period of 2019, the company’s Gross Earnings rose by 33% in 9M’2020 to print at ₦7.069 billion compared to ₦5.322 billion reported in 9M’2019.

- Advertisement -

The increase in Gross Earnings was jointly driven by a 55% surge in Investment Income to ₦74.386 billion, a 62% increase in Fee & Commission Income to ₦2.249 billion, and a 61% spike in Net Interest Margin to ₦125.28 million relative to 9M’2019.
Insider Dealing brandspurng Group CEO of United Capital Plc Acquires 1.78M Units of Shares

Brief Profile

Peter Ashade is an astute investment banker and business leader with 29 years’ cognate experience in Nigeria’s capital market; 14 years as Chief Executive.

He is a well-rounded capital market player having participated in various landmark capital market transactions across all segments of the market and a member of various policy-formulating capital market committees. He is reputed for transformational leadership and outstanding execution capabilities.

Prior to his appointment as the Group CEO of United Capital, Peter was Managing Director/CEO, Africa Prudential Plc (then UBA Registrars Limited). Peter led the transformation of the business from a subsidiary of UBA Plc to the only listed investor services firm on the Nigerian Stock Exchange. More than 15000% growth in profitability was achieved within eight years.

- Advertisement -

He championed disruptive innovation in the registrars’ business in Nigeria, pioneering many e-products and successfully achieved the business diversification of Africa Prudential Plc.

Read Also:  Insider Dealing: United Capital Executive Director Acquires 2 Million Shares Worth ₦12.4M

Peter recorded a number of landmark achievements at Africa Prudential Plc, including consistent growth in earnings and payment of dividends, and development of the first share registration portal in Nigeria in 2008.

Under his leadership, the company also developed GreenPole, the first web-based core registrars operating software in 2016, and the first USSD based product in the Nigerian Capital Market in 2017.

Under his leadership, the company’s blue ocean strategy also produced some giant strides outside the Capital Market space. Africa Prudential ventured into the cooperative space and within a short while, the company developed EasyCoop Cooperative Manager, which is Nigeria’s first independent self-service portal for cooperative thrift and loans societies.

- Advertisement -
Read Also:  United Capital announces ₦1.9 billion profit

This feat, coupled with the company’s growing reputation in deploying business support solutions resulted in the firm’s appointment as consultant development partners to the International Cooperative Alliance – Africa (Alliance Africa).

Among many other achievements, Peter is a two-time recipient of the Business Day Top 25 CEOs Awards (2014, and 2018).

Other awards won by the company include International Quality Crown Award (London, 2013), Best Profit Margin Ratio Company – PEARL Awards 2015, Best Corporate Governance Company in Nigeria – PEARL Award 2015, and Best Registrar Firm in West Africa Award at the 2017 West Africa Innovation and Excellence Awards by the Africa-Canada Trade Alliance.

Peter has a diverse academic and professional background:

  • BSc, Banking and Finance
  • MBA, Marketing
  • MSc, Finance
  • Fellow, Institute of Chartered Accountants of Nigeria
  • Fellow, Chartered Institute of Bankers
  • Fellow, Institute of Capital Market Registrars
  • Associate, Chartered Institute of Taxation of Nigeria
  • Associate, Institute of Directors
  • He is an alumnus of the prestigious Lagos Business School (CEP23, LBS).

He is currently:

  • Treasurer, Institute of Capital Market Registrars (ICMR)
  • 1st Vice Chairman, Chartered Institute of Bankers of Nigeria (CIBN), Lagos State Branch.
- Advertisement -
United Capital CEO Acquires 1M additional shares worth ₦5.17M - Brand SpurUnited Capital CEO Acquires 1M additional shares worth ₦5.17M - 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 -


Please enter your comment!
Please enter your name here

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

United Capital CEO Acquires 1M additional shares worth ₦5.17M - Brand SpurUnited Capital CEO Acquires 1M additional shares worth ₦5.17M - Brand Spur

Latest News

Precise Data For Greater Safety: Audi Warns Its Drivers About Slippery Roads

Audi is taking another step toward safer and more intelligent mobility. The premium carmaker is using high-precision swarm data...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -United Capital CEO Acquires 1M additional shares worth ₦5.17M - Brand SpurUnited Capital CEO Acquires 1M additional shares worth ₦5.17M - Brand Spur