MTN Nigeria Plc..’s board of directors planned to meet tomorrow for the approval of the telecom company’s 2024 audited results. In the stock market, the telecom company has recovered from selling rallies following a broken earnings performance that lasted for three quarters.
Data from the Nigerian Exchange showed that MTN Nigeria has gained more than 55 per cent since last year, when its share price bottomed at N170. The telecom company’s share price closed at N264.20 on Friday, while investors valued its 20.995 billion shares outstanding for N5.547 trillion on the Exchange.
Deals renegotiation, commercial paper borrowings, and increased tariff hikes have helped the telecom company’s survival amidst tough market conditions. In December, the telecom company told the Nigerian Exchange that a meeting of the Board of Directors of MTN Nigeria Communications PLC has been scheduled for Thursday, 27 February 2025.
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At the meeting, MTN Nigeria told the exchange that its board will consider and approve the Audited Condensed Consolidated Financial Statements for the period ending 31 December 2024, along with other agenda items. In line with the post-listing requirements, MTN Nigeria commenced a closed period in respect of transactions on its securities from 30 December 2024.
It said the closed period will remain in effect until 24 hours after the financial statements have been released to the public.
Accordingly, insiders of the company and their connected persons were restricted from dealing directly or indirectly in the company’s securities in any manner during the closed period.
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