SocietyHerald.com.ng || ...Celebrating Spcial People

Main Story

Editor’s Picks

Trending Story

Featured Story

Ninolowo Expulsion: Damian Ajayi Raises Fresh Questions Over APC’s Authority

admin September 28, 2026 0

The controversy surrounding the expulsion of Barrister Azeez Oladapo Yusuf, popularly known as Ninolowo, from the All Progressives Congress (APC)...

NATOP returns to classroom for WTD 2026, holds multi-zone celebration across Nigeria

admin September 28, 2026 0

The Nigeria Association of Tour Operators (NATOP) marked the 2026 World Tourism Day with activities which capture capacity building,...

Fidelity Bank Strengthens Food Security Drive with Distribution of 2,500 Food Packs in Edo

admin September 28, 2026 0

L-R: Branch Leader, Fidelity Bank Plc, Uromi, Joseph Ero; Commissioner for Agriculture and Food Security, Edo State, Jerry Uwangue; and...

A Beacon of Excellence: Prophet Israel Ogundipe Celebrates His Accomplished Daughter, Abisola Dosumu

admin September 27, 2026 0

~By Oluwaseun Fabiyi Today, I joyfully celebrate my resourceful, humble, and deeply beloved daughter, Mrs. Abisola Dosumu, wife of celebrated...

NOT MY HEAD, NOT MY BLOOD 2026 ENDS IN GLORY: EVERY BATTLE, EVERY BARRIER ENDS BY THE POWER OF INSTRUCTIONS – DR CHRIS OKAFOR

admin September 27, 2026 0

.....Every instruction that must work is embedded in Christ ....He who analyzed the Holy Spirit is a failure It...

LAGOS TASKFORCE DISOWNS CLAIM OF DEMAND FOR ‘TRD’ INSCRIPTION PERMIT

admin September 27, 2026 0

The Lagos State Environmental and Special Offences (Enforcement) Unit, otherwise known as the Lagos State Taskforce, has dismissed as false...

Ogun 2027: Hunye Takes Yayi to Court Over Alleged Conflicting State-of-Origin Declarations

admin September 27, 2026 0

The political crisis surrounding the 2027 Ogun State governorship race has taken a fresh legal dimension as former All Progressives...

Sterling Financial Optimises Capital Structure

admin September 26, 2026 0

...total shareholders’ funds to remain unchanged Sterling Financial Holdings Company Plc (“Sterling Financial” or “the Group”) has commenced its approved share capital reconstruction, consolidating every ten existing ordinary shares into one new ordinary share. Following the expansion of its equity base through multiple rounds of capital raises, the exercise is designed to improve capital-structure efficiency, support strategic growth and strengthen the Group’s positioning with institutional and retail investors. Sterling Financial enters this phase following a first half in which profit after tax grew 20.4 percent to ₦50.3 billion on gross earnings of ₦279.6 billion. Total assets reached ₦4.67 trillion, while shareholders’ funds increased 27.8 percent to ₦547.7 billion. The reconstruction forms part of its approach to optimising its share structure as it pursues sustainable earnings growth and stronger returns. To implement the exercise, trading in the Group’s shares on the Nigerian Exchange Limited (NGX) was temporarily suspended on Wednesday, 23 September 2026. The announced suspension period runs for up to ten working days, through Wednesday, 7 October 2026, allowing the Central Securities Clearing System Plc (CSCS) and Pace Registrars Limited to reconcile holdings and update the shareholder register. Resumption of trading will be communicated following completion and confirmation by NGX. Sterling Financial expects the revised share structure to support more efficient price formation and strengthen its appeal to institutional and retail investors. Alongside consistently adjusted financial disclosures, the reconstruction is intended to make per-share performance easier to assess across reporting periods and support sharper comparisons with relevant sector peers. Shareholders approved the reconstruction at the Annual General Meeting on 9 June 2026. The requisite regulatory no-objections have been obtained and an order of the Federal High Court, dated 22 September 2026, confirmed the share reduction exercise. Under the approved structure, issued ordinary shares will reduce from 68,502,331,708 to 6,850,233,171, each retaining a nominal value of 50 kobo. This reclassification leaves total shareholders’ funds unchanged. It does not constitute a fresh capital raise or a cash distribution. For individual shareholders, every 10,000 existing shares will become 1,000 reconstructed shares, with a corresponding tenfold adjustment to the reference price. This preserves the calculated holding value at the point of adjustment. Actual trading prices may rise or fall when trading resumes. Voting and economic interests will continue in proportion to reconstructed holdings. Accrued dividend entitlements remain intact. Future dividends, when declared, will be calculated on the reconstructed share base. The reconstruction does not itself determine the amount of any future dividend. Conversion of eligible holdings is automatic and requires no application or payment. Shareholders with valid CSCS account and stockbroker details will have their reconstructed shares credited electronically without further action. Holders of physical certificates should contact Pace Registrars and a licensed stockbroker for assistance in converting their holdings into electronic form. ...

EX-CHIEF OF STAFF TAIWO VOWS TO DEPLOY GOVERNMENT EXPERIENCE FOR YEWA SOUTH/IPOKIA

admin September 26, 2026 0

…Pledges Quality Representation, Active National Assembly Participation, Proper Monitoring of Projects Dr. Oluwatoyin Emmanuel Taiwo, former Chief of Staff to...

WIMB Africa Roundtable: Stakeholders Call For Policies That Improve Citizens’ Lives

admin September 26, 2026 0

Rising transportation costs, inadequate infrastructure and limited economic opportunities for women and young people dominated discussions at a WIMB Africa...