NASD Market Cap Closed Higher by 1.2%; LBIC Shareholders Approve Admission To NASD

Culled—Proshare

30/7/2018/NASD Plc

The NASD OTC Market ends the week with an increase in market metrics, as the NASD USI increased by 1.2%, closing at 707.45 points (as against 699.13 points last Friday). Consequently, total market capitalization gained 1.2% this week, closing higher at 478.75 billion compared to 473.12 billion last Friday. 

LBIC Shareholders Approve Admission To NASD OTC Securities Exchange

The Lagos Building Investment Company Plc held its 13th Annual General Meeting at LBIC House ASSBIFI Road Lagos. 
 
In addition to its Ordinary Business, the company also passed a Special Resolution to have the company fully Admitted to the NASD OTC Securities Exchange.
 
An Admission of a Company on the NASD OTC market is equivalent to a full listing.  The company is bound by the rules and governance requirements of the securities exchange – which includes scheduled financial reporting and requirements for full dematerialisation.  A full admission of company also meets the requirements of the Securities and Exchange Commission that all public securities must trade on a SEC registered trading platform.  Shareholders are the ultimate beneficiaries as they will have better access to liquidity and greater transparency into the operations of the company and its share price.
 
At NASD OTC Securities Exchange we also tend to develop a great working relationship that enables the company meet its financing structure requirements.  On admission, LBIC will be placed in the financial services segment that includes Nigeria Mortgage Refinance Company Plc, AG Mortgage Bank Plc and Trustbond Mortgage Bank Plc. 
 
We therefore congratulate the Board and Shareholders on the decision to be admitted to the OTC market and look forward to providing an efficient liquidity platform for shareholders in the company.
 
H1 2018 – NASD Security Categorisation 

This week, we concluded the bi-annual categorisation of securities admitted to trade on the OTC Market. This activity results in a classification of admitted securities into “Blue Securities”, “Pink Securities” and “Red Securities” and is aimed at providing the capital market community with information on securities that satisfy general requirements of a Public Limited Liability Company.

Company Evaluation

NASD has referenced information that is no later than 12 calendar months from the date of evaluation (in this instance July 2017).  This is taking from the principle that interim financial information older than 9 months is considered stale for public companies.  Information reviewed include publicly available company reports, corporate communication, trade performance on the OTC Market and adherence to corporate governance standards.

Information is systematically assessed under four broad groupings:

  1. Regulatory Compliance,
  2. Corporate Governance,

              iii.     Disclosure and Financial performance,

  1. OTC Market Trade Activity.

Our Approach
NASD applies a fair, unbiased, rigorous approach; ensuring independence and objectivity by relying on the most recent publicly available and reliable information. Each Company is allowed a significant window to update their records and provide additional data if required.
 
This approach seeks to highlight issuer’s levels of engagement with the investing public and the level of compliance of such a company with the ISA. Invariably, companies with higher levels of financial reporting and corporate governance achieve a higher score than those that have weaker compliance with regulatory and capital market requirements.
 
Categories
To produce the rankings, NASD estimates a series of individual numerical scores at the each criteria level. These criteria scores are calculated and normalized across Metrics. A security’s overall score is then determined by calculating the weighted sum of its scores across all Criteria.
 
Blue Securities
: – These are shares of companies with a history of sound financial performance. These companies display a high level of corporate governance by timely disclosure of their financial statements, regular communication with shareholders and are actively traded on the OTC Market.

 SECURITY FY End AGM Revenue (₦’m) Profit after Tax (₦’m) Market Capitalisation (₦’m) Price (₦) 52W High (₦) 52W Low (₦)
SDAFRILAND Dec-17 27-Mar-18 1,275.0       1,020.8              3,572.0 2.60 3.7 2.42
SDCSCSPLC Dec-17 28-May-18       8,691.5       4,980.6            37,500.0 13.00 13.00 5.58
SDFCWAMCO Dec-17 17-May-18   140,077.0     11,996.0         136,687.0 140.00 184.99 121.04
SDMIXREAL Dec-17 12-Jul-18       19,283.0          6,662.30              2,162.0 2.20 2.25 2.03
SDNASDPLC Dec-17 11-Jul-18             50.30           (81.1)              1,150.0 2.59 2.59 1.92
SDNDEP Dec-17 27-Jun-18     33,783.8       24,497.6            27,029.7 149.00 170.00 100.00
SDNIPCO Dec-17 6-Jul-18   313,024.3       12,127.6            14,262.0 76.00 78 65
TOTAL    518,184.9     61,203.8        221,518.7

NMRC PLC to Hold 4th Annual General Meeting

This is to inform members of NMRC PLC (SDNMRCPLC) that the 4th Annual General Meeting of the Company will hold as follows:

 Date: Tuesday, 31 July 2018
  Venue: Aborah Hall, Eko Hotel & Suits, Adetokunbo Ademola Street, Victoria Island, Lagos.
   Time: 11:00 PM prompt

Trade Summary

Top Traded Securities by Volume – Week 30

SYMBOL VOLUME (‘000) (%)
SDCSCSLC 896 38
SDACORN 801 34
SDFCWAMCO 619 26
SDIGIPLC 35 1.47
SDNDEP 9 0.38

Top Traded Securities by Value – Week 30

SYMBOL VALUE (‘000) (%)
SDFCWAMCO 90,259 87.90
SDCSCSPLC 10,853 10.57
SDNDEP 1,406 1.37
SDACORN 136 0.13
SDUBNPROP 8 0.01

Proshare Nigeria Pvt. Ltd.

Market in Numbers (YTD)

Admitted Securities 38
Registered Brokers 244
Participating Institutions 130
Market Capitalisation  ₦478.75 billion
Total Share Capital 138.96 billion
Volume Dematerialised 45.33 billion
Dematerialised Percentage 32.62%
Volume of trades (YTD) 16.51 billion
Number of trades (YTD) 1,786
Value traded (YTD)

 ₦16.79 Billion

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