Power to Minority Shareholders: High Time They Got Their Act Together.
Nigerians have a tendency not to rebel. More often than not, we just complain to no person in particular and succumb to our individual circumstances. Even in our role as minority investors, we carry the same mindset. Quite often, we are used to being abused by deceitful promoters. But is this about to change? The position of the minority shareholders is usually more precarious as a result of the narrow understanding of the general legal rule that allows only a company, through its majority shareholders, to assert the legal rights of such a company.
Damage to companies is caused by the majority shareholders or their appointed Directors, to which situation the law has created exceptions to the general rule governing companies. Most times, this damage is done at the expense of the minority shareholders. Minority shareholder rights consist of rights that are generally available to all shareholders and rights that may be available under CAMA. Companies are governed by this law and shareholder rights are set out in the corporate statute of the company’s state of incorporation.
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Daily Market Updates
280312: Equity Market records marginal loss as bearish sentiment persists
Today, trading activities on the Nigerian bourse closed with the bears as market continued its losing streak for the fourth session in a row despite the improved market breadth witnessed while the slight gain recorded in the share price of Dangote Cement Plc, market leader by capitalisation could not lift the market indicator further to the positive territory.
Nevertheless, the key benchmark indices sustained negative movement, taking hits majorly from Medium CAP stock which was particularly driven by ACCESS while Small CAP stocks also contributed to the outlook recorded today due to selling activities witnessed inConglomerates, Financial Services and Healthcare sectors.
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Corporate Earnings
CHAMPION declares N1.8 billion PAT in '11 Audited result.
Presco Plc rewards investors with N1.00 dividend in '11 Audited result.
Tourist Company of Nigeria Plc declares N462.69 million PAT in Q2, 2011
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Money Market/ Regulators
Why CBN must conduct Stress Test for Nigerian Banks
Nigeria central bank corrects FX reserves to $35.2 bln
CBN - Correction of External Reserves
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People / Forex
Forte Oil Plc: Appointment of a new Director
Nigeria naira falls vs dollar on surge in FX demand
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Economic & Financial Reviews
Basel IIIA - A Risk-Management Perspective - PWC
Stress Test - Euro perspective by Goldman Sachs
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Upcoming Training &Event
Special Invitation: South - South Economic Summit to be held at The Dome, Asaba, Delta State, Nigeria on 26-28th April, 2012.
We are pleased to confirm that this special event will take place on 26-28th April, 2012. You are cordially invited to book these event dates in your diary and plan towards attending the 2nd South- South Economic Development Summit. The 2nd South-South Economic Summit which is being organised by the BRACED Commission in partnership with the State Governments of Bayelsa, Rivers, Akwa Ibom, Cross Rivers, Edo and Delta under the auspices of the BRACED Commission. The event venue is the Dome in Asaba, Delta State. The theme for the 2012 event is "Integrating the South-South for Sustainable Development" will focus on infrastructural Development, Agriculture, Environment, Oil and Gas, Power, Education, Manpower, Mass Housing and Human Capacity Development and Tourism in the region.
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