EQUATORCAPTIAL. Weekly Market Review 06/11/15 COMPANY UPDATE. Skye Bank Pledges Funding, Capacity Building for SMEs

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1 EQUATORCAPTIAL \\ Weekly Market Review 06/11/15 COMPANY UPDATE Skye Bank Pledges Funding, Capacity Building for SMEs The Executive Director, South South/Retail Banking, Skye Bank Plc, Mrs. Ibiye Ekong, has pledged the bank s continued support to the growth of small and medium enterprises (SMEs) through capacity building and funding. Speaking at the bank s 7th SME seminar in Abuja with the theme, Leveraging Technology to Grow Your Business, a statement quoted Ekong to have assured the bank s customers and SME owners that the institution would assist them access both the Central Bank of Nigeria (CBN) and Bank of Industry (BOI) SME funds to grow their businesses. She also said the bank would in November launch an online mall platform called YesMall to promote SMEs. She described the proposed online platform as a veritable avenue for bringing the bank s customers and prospects to showcase their goods and services to the growing online population in Nigeria. Thisday etranzact, Partners Banks on Mobile Banking with Rewards Scheme One of the Africa s leading providers of mobile banking and payment services, etranzact International Plc, has launched a promotion in collaboration with its mobile banking partners, FCMB, Skye Bank, Jaiz Bank and others to reward its loyal customers and to encourage more people to adopt mobile banking. According to a statement issued by the organisation, the reward promo tagged: Cow, Turkey, Everything Goes Mobile Promo will see thousands of customers of etranzact-powered mobile banking applications win millions of items including live cows, turkeys, chickens, Cable TV Starter Packs, movie tickets, hampers and bags of rice. To win, the company stated that all that is required for new users is to download the mobile banking application of the partner banks and activate the mobile banking application by signing up and changing pin. Thisday Transcorp Hotels floats N10b bond for expansion Transcorp Hotels Plc has launched a N10 billion bond issue to provide complementary finance for the upgrade of the company s flagship Hotel, Transcorp Hilton Abuja, and construction of a multipurpose banquet centre. The N10 billion Series 1 Senior Seven-Year 16.0 per cent fixed rate unsecured bonds 2022 is being issued under the N30 billion medium term bond programme of the company. The bond issue is fully underwritten by FSDH Merchant Bank Limited and United Capital Plc. The new bonds will carry a amortised gross coupon of 16.0 per cent per annum for a period of seven years. The redemption on maturity, expected to be 2022, will be at 100 per cent of the nominal amount of the bonds. The bonds are available in denominations of N1,000, and will be listed on the main market of the Nigerian Stock Exchange and also the FMDQ OTC platform for enhanced tradability. The Nation Nigerian Breweries Raises N17.7 Billion ViaCommercial Paper Nigerian Breweries Plc has successfully raised N17.7 billion under its three-year N100 billion Commercial Paper (CP) programme. The N17.7 billion has a yield of per cent per annum. According to the company, the offer, which closed on October 8, following strong institutional investor participation, demonstrates confidence in the Nigerian Breweries story. The Nigerian Breweries CP programme is a significant addition to the Nigerian capital market. The success of the maiden issuance represents + the strong acceptance of the issue in the market, which is further evidenced by the diverse category of investors to whom the securities were distributed (including asset managers, insurance companies, trustees and banks). Finance Director of Nigerian Breweries Plc, Mark Ruttenhas said the transaction provides the company the ability to periodically access alternative debt funding at rates mirroring money market and treasury 1 bill yields. Thisday.

2 EXPECTED Weekly Market RESULTS Review 06/11/15 STOCKS DEPRECIATE MARGINALLY BY 0.01% Equities at the floor of the Nigerian Stock Exchange opened the week on a negative note and continued to depreciate gradually all through till Thirsday. However, stocks gained value on the last trading day of the week to close the market positively. The NSE ASI, on a week on week basis, lost marginally by 0.01% to close at 29, points in comparison to the 2.78% loss from last week. On the contrary, Market Capitalization gained N2 billion to close at N trillion as against the N10,027 trillion from the preceeding week. Traded equities have lost 15.82% from year to date. The ECL 20 Index also lost by 2.08% to close at basis points from a previous basis points. Year-to-date analysis of the ECL 20 Index showed a decline of 16.15%. A turnover of 1,949 billion shares valued at N17,36 billion exchanged in 15,762 deals were traded at the exchange in the week as against 1,358 billion shares valued at N14,722 billion exchanged in 14,772 deals in the precious week. The top ten most actively traded stocks in the week were Access Bank, Zenith Bank, UBA, First Bank Holdings, Transcorp, Lawunion, Oando, ETI, Continental Reinsurance and Fidelity Bank.Together they contributed 86.68% of the total volume of stocks traded. It was an equal split of gains and losses among the NSE sectorial indices except for the NSE ASeM index which remained the same in the week under review. The highest sectoral gain of 1.79% was posted by the NSE Oil/Gas index while the NSE 30 index, NSE Insurance index and NSE Premium Board followed at a distance with 0.19%, 0.12% and 0.08% respectively. On the other hand,the NSE Lotus Islamic index lost by 2% while NSE Consumer goods index and NSE Industrial index recorded a loss of 0.94% and 0.83% a piece. The NSE Banking index also posted a marginal loss of 0.04% The top three equities that gained in the week include Oando Plc, Guiness and Stanbic Ibtc with a gain of 28.45%, 14.59% and 10.36% to close at N7.22k, N143.24k and N20.87k reaspectively. At the losers angle, Unilever, Fidson and Cutix Plc lost by 18.74%, 17.60% and 13.69% to close at N31.43k, N2.81K and N1.45k a piece. SUMMARY OF MARKET ACTIVITY DATE DEALS TURNOVER VOLUME TURNOVER VALUE TRADED STOCKS ADVANCERS DECLINERS FLAT 26/10/ 2, ,122,057 2,967,442, /10/ 3, ,757,958 1,124,139, ,510 28/10/ 3, ,606,881 2,055,283, /10/ 3, ,225,557 5,070,019, /10/ 2, ,782,020 6,119,229, EQUATOR CAPITAL LTD 154, PRINCE ADE ODEDINA STREET, 2 VICTORIA ISLAND, LAGOS This Report is published by the Research Unit of based on information available in public domain. Reliance on opinion contained herein does not impose any liability on the company or its personnel. Changes in the political and economic environment can adversely affect market conditions.

3 Weekly Market Review 06/11/15 P INDEX Year Opening Week Open Week Close % Change (Wk) YTD (% Change) NSE ASI 34, , , % % NSE 30-INDEX 1, , , % % NSE Banking Index % % NSE Insurance Index % -6.52% NSE Consumer Goods % % NSE Oil/Gas Index % -8.95% NSE LII Index 2, , , % % NSE Ind. Index 2, , , % -2.49% NSE ASEM 1, , , % -0.61% NSE PREM 1, , , % -1.03% ECL 20 Index % %

4 Weekly Market Review06/11/15 MARKET NEWS TOTAL NIGERIA PLC Appointment of a Director Total Nigeria Plc ( Total or the Company ) has notified The Nigerian Stock Exchange of the appointment of Ms. Christie Hein as a director of the Company with effect from 28 October 20. Ms. Christie Hein is a graduate of Business Administration from the Friedrich-Alexander University, Erlangen Nurnberg/Trinity College, Dublin. She started her career in 1998 at Bahisens Kefsfabik, Hannover as a trainee, graduate. In 1995, she joined Babcock Borsig Oberhausen rising to become the Managing Director of an affiliate. She began her career with Total in 2003 in Total Deutschland, Berlin as Head of Control/Risk Management. In 2012, Ms. Hein moved to Total Asia-Pacific Ltd Singapore as Vice President Corporate Affairs Marketing & Services a position she held until September when she was appointed Vice President Corporate and Project Finance Refining & Chemicals/Marketing & Service OANDO PLC Further to our recent filings and representations to the Dealing Clerks and employees of the Nigerian Stock Exchange ( NSE ), we write to give a brief summary of the key matters impacting on our full year release for With global upstream players forced to record significant reductions in the fair value of their asset portfolios in the last 10 months, we are no exception. This led to us accepting non-cash impairments and currency devaluation charges totaling N185.3Bn N130.2 Bnin our Exploration &Production business as a result of lower oil prices leading to a reduced valuation of certain exploration and appraisal assets and under-lift receivables owed to us by NNPC. N36.4 Bn in our Energy Services business due to reduced drilling activity and reduced day rates accruable to our rig assets. N18.7 Bndue to the devaluation of the Naira, which generated a significant foreign exchange loss as we import in dollar denominations and recover our costs in Naira. 4 BEST PERFORMING STOCKS FOR THE WEEK GAINNERS STOCKS OPEN CLOSE % Change OANDO % GUINNESS % STANBIC % NAHCO % TRANSCORP % AIICO % CONTINSURE % BETAGLAS % UACN % LEARNAFRCA % WORST PERFORMING STOCKS FOR THE WEEK (LOSERS) STOCKS OPEN CLOSE % Change UNILEVER % FIDSON % CUTIX % LIVESTOCK % MOBIL % CAVERTON % DANGFLOUR % UNITYBNK % DANGSUGAR % UAC-PROP %

5 Weekly Market Review 06/11/15 Plot 154, Prince Ade Odedina Street, Victoria Island, Lagos COMPANY RESULTS QUARTERLY RESULTS COMPANY PERIOD TYPE TURNOVER PBT PAT CURRENT PREVIOUS CURRENT PREVIOUS CURRENT PREVIOUS %CHANG CONTINSURE B B 2.072B 1.691B 1.537B 1.634B -5.94% CHAMS PLC M 1.939B ( M) M ( M) M % NASCON B 8.172B 2.380B 2.343B 1.618B 1.573B 2.86% EQUITYASUR B 2.862B ( M) ( M) ( M) ( M) % ELLAH LAKES M M (34.729M) (13.943M) (34.729M) (13.943M) % 31ST MAR B 3.079B M M M M 84.22% 30TH JUN B 5.606B M M M M % B 8.285B M M M M 40.52% CONOIL SKYESHELT B B 1.760B 2.098B 1.196B 1.427B % M M M M M M 30.71% EQUATOR CAPITAL LTD 154, PRINCE ADE ODEDINA STREET, VICTORIA ISLAND, LAGOS This Report is published by the Research Unit of based on information available in public domain. Reliance on opinion contained herein does not impose any liability on the company or its personnel. Changes in the political and economic environment can adversely affect market conditions. 5