Again, Sanni Olalekan Akeem Purchases Shares of Vitafoam Worth ₦1.2M

Insider Dealing: Vitafoam’s Non Executive Director acquires 19,082 Additional shares

Sanni Olalekan Akeem, the Company Secretary/Legal adviser, Vitafoam Nigeria Plc, purchased 150,000 ordinary shares of the company.

In a statement released and made available to Brand Spur, Sanni Olalekan Akeem bought 150,000 shares at N8.25 per unit on March 25, 2021, at the Nigerian Stock Exchange in Lagos, Nigeria. This translates to an aggregate amount of ₦1,237,500.00

Vitafoam Nigeria Plc is Nigeria’s leading manufacturer of flexible, reconstituted and rigid foam products.

Insider dealings give clues on insiders’ sentiment and director unlike before the new transparent policy where shareholders do not know what executives that formulates policy that impacts their desire stocks are doing.

Transaction details

Again, Sanni Olalekan Akeem Purchases 150,000 Shares Worth ₦1.2M Brandspurng

Vitafoam Q4 2020 Financials

Vitafoam Nigeria Plc announced 5.2% revenue growth in Q4 2020 Result to N23bn from N22bn in the previous quarter. The firm also increased its profit before tax by 62% to N5.6bn as well as its profit after tax grew by 72% to N4.1bn. Also, tet Assets grew by 51% from N6bn to N9bn.

Incorporated on 4th August 1962 and listed on the floor of the Nigerian Stock Exchange in 1978, Vitafoam’s brands remain household names in the Country.