Sterling Bank top executives mop up N46m worth of shares

July 22, 2020
32 Views

Top executives of Sterling Bank Plc, including its Managing Director, Abubakar Suleiman, as well as a number of Executive Directors, have purchased the bank’s shares worth a total of N460 million.

In a disclosure filed on the Nigerian Stock Exchange and duly signed by the company’s secretary, Temitayo Adegoke, the shares were all sold by Sterling Bank Staff Cooperative Multipurpose Society.

National Daily gathered that the Managing Director, Mr. Abubakar Suleiman purchased 18,457,500 units of shares at N1.24 on the 16th of July, 2020, while an Executive Director, Mr. Tunde Adeola, purchased 1,277,777 units at N1.25 on the 13th of July, 2020.

Another Executive Director, Mr. Emmanuel Emefienim, purchased 8,368,688 units at N1.25 on the 14th of July, 20200, Executive Director, Mr. Raheem Owodeyi, purchased 2,121,258 units at N1.24 on the 16th of July, 2020, and also Mr. Yemi Odubiyi, an Executive Director also acquired 7,128,882 units at N1.24 on the 15th of July, 2020.

The transactions cumulatively come to a total of N46 million.

Recall that the company’s Q1 2020 results had been impacted by the regulatory-induced fee cut on e-banking transactions resulting in a decline in Net Fee and Commission of 16% year-on-year, as well as an 8% increase in its operating expenses.

The company’s share price was 1.22 as at close of market today; its EPS stood at 0.33, while its price to earnings ratio stood at 3.68.0

You may be interested

Nigerians Reacts As Former YBNL Rapper, Davolee Calls Olamide A ‘Mad Man’
Celebrities
Celebrities

Nigerians Reacts As Former YBNL Rapper, Davolee Calls Olamide A ‘Mad Man’

Webby - February 23, 2021

Former YBNL signee, Davolee has sparked controversy on the social media after he called his former label boss, Olamide, a…

Female Banker And Two Others Arrested And Arraigned for N14m Fraud (Photo)
News
News

Female Banker And Two Others Arrested And Arraigned for N14m Fraud (Photo)

Webby - February 23, 2021

The suspected fraudsters Men of the Economic and Financial Crimes Commission have arraigned a banker and two others over N14…

We Invited Military To Orlu To Prevent A Repeat Of #EndSARS Saga – Governor Uzodinma Reveals
News
5 views
News
5 views

We Invited Military To Orlu To Prevent A Repeat Of #EndSARS Saga – Governor Uzodinma Reveals

Webby - February 23, 2021

Gov Hope Uzodinma Governor Hope Uzodinma of Imo state has revealed the reason he invited the military to Orlu community…

Leave a Comment

Your email address will not be published.