By InvestAdvocate
Lagos (INVESTADVOCATE) – Sovereign Trust Insurance Plc Monday listed 1.668,000,128 units of shares as supplement on the Floor of the Nigerian Stock Exchange (NSE) in Lagos Nigeria.
Firm in late November recorded a Gross Premium of N5.7 billion in its third quarter (Q3) Result for the period ended September 30 2011 compared to N4.0 billion in the same period of 2010; indicating a rise of 42.5 percent (42.5%) in the review period.
Profit Before Tax (PBT) rose to N985million from N795million to record a 24% increase, while Profit After Tax, (PAT) grew by 26% from N700 million to N886 million in the review period.
Sovereign Trust had in July 2011 did a Rights Issue by offering to existing Shareholders 1,734,585,775 Ordinary Shares of 50 kobo each at 50 kobo per share on the basis of one (1) new Ordinary Share for every three (3) held as at the close of register on Monday, May 9, 2011.
Wale Onaolapo, Managing Director (MD) of the Insurance firm had said that its Management has set a growth agenda aimed at positioning the Company as one of the top five in the insurance industry in Nigeria.
Meanwhile, Vitafoam Nigeria Plc has notified the Stock Exchange that its Board of Directors (BODs) will meet on December 15 2011 to recommend a dividend to its shareholders for the Financial Year Ended (FYE) September 30 2011.
“The Company has notified The Exchange that its Board of Directors will meet on Thursday, 15th December 2011 to deliberate on dividend recommendation for the financial year ended 30th September 2011†the Notice said.
