AM&P Advisory Services Limited has purchased 55.1 million shares in UAC of Nigeria (UACN) Plc. The shares were purchased on 31st August, 2020 at an average price of N5.68 per share, meaning AM&P spent a total of N312.98 million on the deal.
Folasope Babasola Aiyesimoju the Group Managing Director (GMD) of UACN is a Partner in AM&P Advisory Services Limited. AM&P provided consultancy services to UACN in 2019.
UACN reported revenue of N2.15 billion and operating loss of N1.26 billion for the 2019 financial period.
Total comprehensive Loss for the year came in at N15.8 billion as a result of a N12.6 billion write down on an investment in an associate company (UPDC).