Effect of Rule on Unlisted Securities...Valmon Securities Limited leads the board

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Saturday, April 11, 2015 7.25 AM / NASD OTC


Effect of Rule on Unlisted Securities

Last week the Securities and Exchange Commission (SEC) quietly broadened the scope of the Nigerian Capital market by releasing the RULES ON TRADING UNLISTED SECURITIES.  The muted entry of this rule however understates its significance in advancing the Nigerian capital market. 
The rule:

 
a.     makes it illegal to transfer public securities through dark pools and away from the apex regulators oversight. 

b.    imposes a restriction on those who can act as transfer agents – that service can now only be legally carried out by Qualified Stockbrokers (in good standing with the SEC and NASD OTC).  This brings to an end a long standing regime of non-authorised operators (nicknamed ‘jobbers’) brokering unrecorded transactions.

c.     expands the horizon of publicly tradable securities and opens up a new terrain for the country’s fast growing (possibly underinvested) pension deposits.

Exciting times lay ahead for our untapped OTC markets.  We expect to see greater transparency in capital market transactions; the continued emergence of a truly globalised stockbroking industry and a much deeper and broader capital market.

In the coming weeks NASD OTC will expand the trading list to include all eligible securities that can trade exclusively OTC.  This will be communicated through our website, newsletters and Participating Institutions.

Afriland Properties Plc declares 40k dividends to Shareholders

Afriland Properties Plc whose securities are trading on NASD OTC market recently released its audited results for the year ended 31 December 2014.

The audited result shows an increase of 83% in turnover, 311% in Profit before Tax and 439% in Profit after Tax. The full details are as shown in the table below.


A dividend of 40 kobo was approved by the shareholders at annual general meeting (AGM) of the company which held in Lagos on Wednesday 08 April 2015.


The last closing price of this security is ₦2.25
.



TOP 5 TRADING SECURITIES 2015

We have reset our counter on the top 5 trading securities to reflect only annual records. The table below shows the data for the Quarter 1 of 2015.



PI ACTIVITY – 2015 

As we commence 2nd quarter of 2015, we have reset PI activity to match calendar year. NASD OTC will therefore present on a weekly basis, cumulative trades for the year 2015 only and not inclusive of periods prior to 2015.
 
As a result of the reset, Valmon Securities Limited has been the most active PI in 2015 and therefore leads the board for the first time



MARKET IN NUMBERS (YTD - 10 APRIL 2015)

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