Geregu Energy PLC has been named the “Most Compliant Listed Firm” on the 2024 Product of Africa Awards, a recognition for adherence to company governance and regulatory requirements.
The awards, organized by the Nigerian Trade Fee (NGX), had been held in Lagos and featured outstanding stakeholders within the monetary and company sectors.
The award was introduced beneath the “Compliance and Governance Excellence” class, which acknowledges firms that constantly meet The Trade’s Issuers’ Guidelines with out incurring penalties.
In accordance with the NGX, the award is given to “the listed firm that demonstrates the best degree of adherence to The Trade’s Issuers’ Guidelines, with out incurring any penalties.”
Geregu Energy outperformed opponents within the class, which included different sub-awards similar to Finest Issuer for Fastened Revenue Listings, Most Compliant Buying and selling License Holder, Dealer of the 12 months, and Itemizing of the 12 months.
Compliance report
The corporate has established a popularity for well timed, correct regulatory filings and for its meticulous monetary disclosures. Geregu Energy has constantly been among the many first firms to file periodic studies.
- In 2024, the corporate set the tempo by publishing its audited accounts on January 30, mere weeks into the 12 months. It continued this pattern with its first-quarter financials, launched on April 9, simply days after the quarter closed.
- Furthermore, Geregu Energy has been proactive in organizing its Annual Basic Conferences (AGMs) on time, usually forward of its friends.
This 12 months, the corporate held its AGM in March, considerably sooner than most listed companies. In accordance with Nairametrics analysis, Geregu has additionally convened three board conferences this 12 months to approve quarterly monetary statements.
Monetary Outcomes
The corporate reported robust monetary outcomes for the primary 9 months of 2024, with pre-tax revenue rising by 107% year-on-year to N36.2 billion, in contrast with N17.4 billion in the identical interval of 2023. Income for the interval grew by 102% to N112.5 billion, pushed by N71.4 billion in vitality gross sales and N41.1 billion in capability expenses.
Geregu Energy has been one of many best-performing shares on the Nigerian Trade this 12 months. As of November, its share value had risen by 188% to shut at N1,150. Earlier within the 12 months, the corporate declared a dividend of N8 per share, which was paid to shareholders on March 30.
About Geregu Energy PLC
Geregu Energy PLC is a key participant in Nigeria’s energy technology sector, addressing the nation’s ongoing want for dependable electrical energy.
- With its company workplace positioned in Victoria Island, Lagos, and its operational base alongside the Itobe-Ajaokuta Expressway in Ajaokuta, Kogi State, the corporate is positioned to contribute to Nigeria’s vitality wants.
- As a listed firm on the Nigerian Trade Restricted, Geregu Energy PLC prioritizes company governance, environmental accountability, and sustainability, using trendy expertise to handle Nigeria’s rising vitality calls for.
- Geregu Energy PLC is chaired by Mr. Femi Otedola, CON, who has led the Board of Administrators since November 2013, guiding the corporate together with his in depth expertise and management.
- The corporate’s day by day operations are led by CEO Akin Akinfemiwa, targeted on innovation and development, with assist from Deputy CEO Julius B. Omodayo-Owotuga, FCA, CFA, whose monetary experience strengthens the management workforce.
The corporate’s dedication to sustaining well timed filings of audited accounts, quarterly studies, and different monetary disclosures, alongside adherence to the change’s itemizing necessities, possible contributed to its recognition on the 2024 Product of Africa Awards.
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