24/07/2018
Here are stocks that will be on our radar this week.
Transnational Corporation of Nigeria Plc
Transnational Corporation (commonly known as Transcorp) is on ITI’s stocks to watch this week by virtue of reports of key shareholder, Heirs Holdings, raising funds to purchase blocks owned by Shell. Heirs Holdings is ultimately controlled by Tony Elumelu. The deal, if successful, would lead to Transcorp running a power plant owned by Shell.
United Capital Plc
United Capital also occupies a spot on ITI’s watchlist due to the potential fundraise by Heirs Holdings. Tony Elumelu, the main party behind Heirs, also owns a stake in United Capital. As an investment bank, the company would play a key role in the transaction.
Capital Oil Plc
Capital Oil Plc will be holding an Extraordinary General Meeting (EGM) on the 26th of July, 2018. The agenda of the meeting is the acquisition of a stake by Pinnacle Oil and Gas through a private placement.
Royal Exchange Plc
A suspension placed on the company was lifted last week Friday. The company has since released its results for the full year ended December 2017 and first quarter ended March 2018. Companies lifted from suspension tend to either fall or rise sharply.
These companies will be holding their Annual General Meeting before the end of July
Presco Plc
Presco Plc will be holding its Annual General Meeting on the 25th of July, 2018.
Studio Press Plc
Studio Press Plc will be holding its Annual General Meeting (AGM) on the 25th of July, 2018.
Capital Oil Plc
Capital Oil Plc will be holding its Annual General Meeting (AGM) on the 26th of July, 2018.
Champion Breweries Plc
Champion Breweries will be holding its Annual General Meeting (AGM) on the 26th of July, 2018.
Oando Plc
Oando Plc will be holding its Annual General Meeting (AGM) on the 27th of July, 2018. This AGM would be of note due to reports of the company’s Group CEO Wale Tinubu and Deputy CEO Mofe Boyo being asked to pay the sum of $680 million to Ansbury Incorporated, owned by Gabriele Volpi.