United Capital notifies NGX as insider sells 3,651 shares

United Capital notifies NGX as insider sells 3,651 shares

Financial services conglomerate, United Capital Plc, has notified the Nigerian Exchange Limited and the investing public of a recent insider share transaction involving a member of its internal control department.

The disclosure was made pursuant to Chapter 17 of the NGX Issuer Rules, which mandates listed entities to report transactions conducted by Persons Discharging Managerial Responsibilities and closely associated persons within two business days.

The corporate announcement was released on Wednesday and signed by the Company Secretary, Leo Okafor.

According to the regulatory filing, Oyebode Bayonle, a staff member in the company’s Internal

Control unit, executed a divestment of ordinary shares in the group.

The transaction, processed as an initial notification of insider dealing, was executed on the trading floor of the NGX on Tuesday.

The filing showed that Bayonle sold 3,651 units of United Capital Plc ordinary shares at N17.85 per share, bringing the total value of the transaction to N65,170.35.

Insider transaction filings remain a key component of corporate governance on the exchange. While employees and directors are allowed to trade company securities outside designated closed periods, mandatory filings prevent market manipulation, ensure price transparency and protect market integrity.

United Capital, chaired by Mr Uche Ike and led by Group Chief Executive Officer, Mr Peter Ashade, stated that “it remains committed to upholding compliance protocols in line with Securities and Exchange Commission guidelines.”

Source: https://punchng.com/united-capital-notifies-ngx-as-insider-sells-3651-shares/