His name is not included in the top management staff of United Capital Plc. But Adeyemi Okunubi has acquired additional 74,000 shares of the company at N8.09 per share.
The amount involved seems small and insignificant. But the Okunubi, who according to United Capital Plc, is the Chief Contract Operations Officer of the company, had earlier in January this year, could only manage to spend N381.5 to purchase 70 units of the company’s share seems to be up to something, or perhaps, is representing something big, about-to or already happening to United Capital Plc.
The 70 units acquired by Okunubi in January was part of a gale of insider dealings involving top executives of United Capital Plc and their relatives.
The executives, including Peter Ashade Group Chief Executive Officer, and Emmanuel Nnorom, a Non-Executive Director, acquired over four million (4,396,978) shares of the company between January and February this year.
More intriguing is the gap of information in the digital status of Okunubi. There is no image or information on the Linkedin and Facebook pages associated with the name.
According to a statement, “Equity securities of Quoted Companies on The Exchange (NGX) are classified into three Stock Price Groups or Categories – High-Priced, Medium Priced, and Low-Priced Stocks, based on their market price. In this regard, securities must have traded for at least four out of the most recent six-month period within a Stock Price Group’s specified price band to be classified into the category.
Last month, the NGX announced the reclassification of United Capital Plc from the Low-Priced Stock Group to the Medium-Priced Stock Group, in line with The NGX’s Pricing Methodology framework.
“Accordingly, a review of United Capital Plc stock price and trade activities over the most recent six-month period provides the basis for reclassifying the security from the Low-Priced Stock Group to the Medium-Priced Stock Group.
“This reclassification also necessitates the attendant change in the tick size change from N0.01 kobo to N0.05 kobo – in line with Rule 15.29: Pricing Methodology, Rulebook of The Exchange, 2015”