DVCF Oil & Gas Plc Sells TIP Shares Worth N10.131m

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DVCF Oil & Gas Plc, a significant shareholder in waste management and industrial cleaning company has sold 9,468,900 units of its shareholding, valued at about N10.131 million. The sale was disclosed in notices on insider trading filed with the Nigerian Exchange Limited.

Concurrently, another major shareholder, Olajide Afolayan, acquired 5,994,937 units of TIP shares in two transactions on December 20 and 21, purchasing them at N1.06 and N1.07 per share, respectively. The total value of the acquired shares was about N6.364 million.

As of TIP’s third-quarter financials, DVCF Oil & Gas Plc was the largest shareholder, holding over 322 million units, equivalent to 35.87% of the company’s shares. Olajide Afolayan held over 68.618 million units, representing 7.62% of the company’s shares.

TIP is listed on the Growth Board of the Nigerian Exchange Limited, with an issued share capital of 900,000,000 at 50 Kobo per share.

Source: PUNCH

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