Connect with us

News

CardinalStone Securities Limited executes the largest block deal in the Nigerian Capital Market

Published

on

CardinalStone Securities Limited is pleased to announce the execution of the sale of 27,336,952,296 ordinary shares of Union Bank of Nigeria Plc at ₦7.00 per share by Atlas Mara Limited and Union Global Partners Limited to Titan Trust Bank Limited. The sale which represents a 93.4% equity stake in Union Bank is for a total value of ₦191 billion (US$461 million).

CardinalStone Securities Limited acted as stockbrokers to Atlas Mara Limited and Union Global Partners Limited as well as Titan Trust Bank Limited, the new core investors in Union Bank.

This landmark  transaction is the largest divestment/acquisition deal executed in the Nigerian Capital Market. With a trade value of ₦191 billion (US$461 million), the deal surpasses the divestment of c.3.2% of Dangote Cement Plc by Dangote Industries Limited (Transaction value; ₦125 billion, US$346 million), Crown Flour Mill’s acquisition of Dangote Flour Mills Plc (Transaction value; ₦120 billion, US$333 million), Access Bank Plc’s acquisition of Diamond Bank Plc (Transaction value: ₦72.5 billion, US$236 million), NIPCO’s acquisition of Mobil Nigeria Plc (Transaction value: ₦91 billion, US$282 million).

Speaking on the transaction, Mr. Michael Nzewi, Group Managing Director & Chief Executive Officer of CardinalStone Partners Limited stated ‘’We are pleased to have played a key part in such a remarkable transaction in Nigeria’s capital market and the banking industry, bringing together Union Bank of Nigeria Plc, Nigeria’s second oldest bank, and Titan Trust Bank Limited, a technology-focused new generation bank. We heartily congratulate both parties on the successful closure of the transaction and applaud other professional parties involved in the transaction’’.

Advertisement
ALSO READ  Woman scalds husband with hot cooking oil, flees (Photos)

In addition, Mrs. Elile Olutimayin, the Managing Director of CardinalStone Securities Limited commented on the milestone attained by CardinalStone as the executing stockbroker on the largest deal in the local bourse. ’’CardinalStone Securities remains the first point of call for both local and foreign investors seeking to execute strategic transactions in Nigeria’s capital market. We remain committed to deepening the capital market and appreciate the parties for entrusting CardinalStone with such an important transaction.’’

News

Gas Explosion kills man while he was preparing food (Photos)

Published

on

A Gas Explosion has killed a man at Ayimensah in the Greater Accra Region.

This sad incident happened this morning, Tuesday November 29, 2022.

Mr. Daniel, an agent was killed by the gas explosion this morning while preparing his breakfast.

The cylinder exploded and caught him in the fire.

Advertisement

He was rushed to the hospital after the unfortunate incident but he passed away hours later.

The body has been kept at the morgue for autopsy and preservation.

ALSO READ  CHAN 2023 Qualifier: We are in Nigeria to seal qualification – Ghana coach, Walker
Continue Reading

Crime

Native doctor shoots his client dead while testing bulletproof charm in Enugu

Published

on

Operatives of the Enugu State Police Command have arrested a 23-year-old native doctor, Odoh Emmanuel, for accidentally killing his client while testing a bulletproof charm he prepared for him.

Odoh shot the deceased, identified as Onunze Benedict, with a locally-fabricated single-barreled gun in his shrine while testing the potency of the charm he made for him.

According to the Command’s Spokesperson, DSP Daniel Ndukwe, who disclosed the incident in a statement released on Tuesday, November 29, the killing occurred in Isi-Uzo Local Government Area of the state.

The statement reads,

Advertisement

“On 16/11/2022 at about 11.pm, police operatives serving in Isi-Uzo Police Division of the Command, arrested Odoh Emmanuel (male and a native doctor) aged 23, of Umuaram Village in Ikem community of Isi-Uzo LGA, for shooting and murdering his adult male client, one Onunze Benedict, of Eha-Amufu community in the same LGA.

“Preliminary investigation reveals that the suspect confessed to having used a locally-fabricated single-barreled gun to shoot and murder the said victim in his shrine at the mentioned location, while testing the gunshot protection charm he had prepared for him

“The gun has been recovered, while further investigation is ongoing at the Homicide Section of the State CID Enugu.”

The suspect will be charged to court once the police conclude their investigation.

Advertisement
ALSO READ  Lagos govt approves Odusanya as pioneer LASUSTECH VC
Continue Reading

Crime

Ogun: Yahoo-boy kills girlfriend for refusing to remit fraud proceeds

Published

on

A 27-year-old suspected internet fraudster, otherwise known as Yahoo boy, Obeta John, has allegedly killed his girlfriend, Idowu Buhari over claims that she refused to remit to him, a proceed of fraud paid into the girl’s account by a victim.

The victim, an HND 1 student of Mass Communication, Gateway Polytechnic Saapade, Ogun State, was reportedly beaten to death by the suspect.

Abimbola Oyeyemi, the Ogun State police spokesperson, Abimbola Oyeyemi, said the suspect, was arrested Tuesday following a distress call received at the Ode-Remo divisional headquarters.

The police were informed that the suspect, a resident at 3, Mojubade Compound, Eredu Ishara, locked his door and started beating the girl, hitting her head against the wall.

Advertisement

Efforts by neighbours to persuade him to open the door did not succeed, DAILY POST learnt.

Acting on the distress call, Oyeyemi said the DPO of Ode-Remo division, CSP Fasogbon Olayemi, had quickly led his officers to the scene, “where they met the victim in the pool of her blood after forcing the door open.”

The police rushed the victim to the State Hospital, Ishara, where she was pronounced dead by the doctor on duty.

The suspect said to be an indigene of Enugu State, is presently in police custody.

“On interrogation, the suspect informed the police that he is an internet fraudster and that a certain amount of money from one of his clients was paid into the account of his deceased girlfriend which she refused to relinquish to him,” Oyeyemi explained.

Advertisement

He quoted the suspect as saying that the fight over the said money had eventually led to the death of the girl.

ALSO READ  Oliseh quits German Club after two months in charge

Meanwhile, the State Commissioner of Police in Ogun, Lanre Bankole, has ordered the transfer of the suspect to the State CIID for further investigation and prosecution by the homicide team.

Continue Reading

Trending

Copyright © 2022 TheHeute.