The Chairman of the Nationwide Affiliation of Securities Sellers’ (NASD), Mr. Olutola Mobolurin has offered off a good portion of his shareholding within the OTC Trade, in keeping with a press release seen by Nairametrics.
Mr. Mobolurin, who lately turned 70 and has served on the Board of the alternate since 2013, holds over 21 million shares of NASD.
NASD Plc is a Securities Trade registered by the Securities and Trade Fee (SEC) to function a proper Over-The-Counter (OTC) market in Nigeria.
What you need to know
- In accordance with the NASD’s most up-to-date annual report, the Chairman owns roughly 21,490,311 (twenty-one million, 4 hundred and ninety, 300 and eleven) shares within the NASD, amounting to 4.84% possession of the Trade’s whole shares excellent of 444,204,388.
- The report of the Chairman’s divestment in his shareholding of NASD, comes forward of the Securities Trade’s Annual Normal Assembly for the 12 months 2022, which is anticipated to happen later in June of this 12 months.
- The divestment, which coincides with the Chairman’s platinum jubilee celebrations, raises the query of whether or not he’ll step down from the Trade’s Board of Administrators.
- Mr. Mobolurin is thought within the stockbroking neighborhood as one of many “smartest males within the room,” and through his tenure, NASD Plc skilled many constructive adjustments.
- He’s the alternate’s first chairman, and he elevated turnover, launched technological advances, and established the NASD alternate as a key participant within the inventory market.
