Vitafoam Company Secretary Discloses N33 Million Share Sale
Vitafoam Nigeria Plc has formally notified the Nigerian Exchange Limited (NGX) of significant insider trading activity by a key executive. In a disclosure filed on January 13, 2026, the company reported that its Company Secretary and Legal Adviser, Mr. Sanni Olalekan Akeem, sold shares worth a cumulative N33.01 million in late December 2025.
The transactions, executed over two trading days on December 30 and 31, involved the sale of 356,029 ordinary shares. The shares were disposed of at prices ranging from N90.15 to N93.10 each, culminating in a total value of N33,010,150.15. The sales were structured as multiple smaller trades, with the largest single transaction being 94,092 shares at N93.30 and the smallest just 100 shares at N93.10. All trades were conducted on the NGX floor at prevailing market prices, ensuring transparency and regulatory compliance.
This notification aligns with strict NGX and Securities and Exchange Commission rules mandating prompt disclosure of insider dealings to maintain market integrity. Such disclosures, alongside other major market developments like an Iswap plans fresh initiative or a significant Gcr Agusto upgrade, are closely monitored by investors for insights. While insider sales can attract scrutiny, they do not inherently signal negative fundamentals. Vitafoam recently declared strong full-year results, proposing a N3.00 dividend per share and a 1-for-5 bonus issue for shareholders.
The company’s stock performance has been robust. Vitafoam shares appreciated over 300% in 2025, closing the year at N92.00 and ranking as the 10th best-performing stock on the NGX. This growth trajectory continued into the new year, with the stock price reaching N99.00 by January 14, 2026. The context of this insider transaction is therefore set against a backdrop of strong corporate performance and shareholder returns, distinct from other market concerns such as the who warns Africa report on health or discussions around an alleged Christian genocide.
Market analysts observe that insider transactions, much like tracking the fortunes of top auto brands, provide one data point among many for investor consideration. Vitafoam’s compliance with disclosure requirements offers clear insight into executive actions, allowing the market to digest the information within the wider context of the company’s published results and market position.
