Capital Hotels Plc addressed capital market stakeholders with a Facts Behind the Figures presentation hosted by the Nigerian Stock Exchange (NSE) on Wednesday, 16 September 2020. This marked the first virtual edition in the series since The Exchange transitioned to remote trading in March 2020.
In spite of the challenging business environment, Capital Hotels Plc has consistently delivered value to shareholders as evident in its dividend policy over the last three years and demonstrated by a final dividend of 5 Kobo per ordinary share for 2019.
Delivering his opening remarks, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON ably represented by Mr. Olumide Bolumole, Head, Listing Business Division, NSE, stated, “It is our pleasure to host Capital Hotels Plc and we commend the Management for championing the maiden edition of this vital series given that the market is driven by timely, relevant and accurate information. We recognize the efforts made by Capital Hotels Plc aimed at improving business operations and restoring investor confidence in the company despite the impact of the COVID-19 pandemic. At The Exchange, we remain committed to providing a platform for the company and other Issuers to meet their strategic business objectives.”
The Chairman, Capital Hotels Plc, Chief. Anthony Idigbe, SAN and the Managing Director, Capital Hotels Plc, Mr. Robert Itawa thanked The Exchange for the opportunity to engage the capital market community on its platform. They further highlighted the performance of the hotel in 2019 and shared some of their plans to further engage with their shareholders and improve compliance with the 20% free float requirement of The Exchange. In light of the impact of the COVID-19 pandemic on the hospitality industry in 2020, Capital Hotels Plc has also committed to take advantage of the laytime investment opportunity the pandemic has provided to raise capital on The Exchange.
To commemorate Capital Hotels Plc’s achievements and their participation in the maiden virtual Facts Behind the Figures Presentation, Chief. Anthony Idigbe, SAN had the privilege of sounding the digital Closing Gong of the NSE.
It would be recalled that The Exchange transitioned to virtual Closing Gong Ceremonies in April 2020 owing to rules around physical distancing necessitated by the COVID-19 pandemic.
Remarkably, operations have gone on seamlessly since The Exchange commenced remote trading and working from home in March 2020, and the capital market community continues to enjoy frequent engagement on the various platforms of The Exchange.