Vitafoam Nigeria Plc has disclosed that its Company Secretary and Legal Adviser, Mr. Sanni Olalekan Akeem, offloaded shares valued at N33.01 million in transactions executed on December 30 and 31, 2025.
The insider sold a total of 356,029 ordinary shares at prices ranging from N90.15 to N93.10 per share, according to the regulatory filing submitted to the Nigerian Exchange Limited on January 13, 2026.
The largest single trade involved 94,092 shares at N93.30, while the smallest comprised 100 shares at N93.10, with the average transaction price settling at approximately N92.43.
All disposals occurred on the NGX floor, ensuring compliance with transparency and disclosure rules for persons with access to price-sensitive information.
Mr. Akeem’s indirect holdings through the investment vehicle were previously nil as of the nine-month 2025 financial statements, marking this as his first reported indirect stake.
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His direct shareholding had already increased significantly, rising from 376.4 million units in December 2024 to 729.4 million units by September 2025.
The combined stake now stands at 811.4 million units, representing 1.56 per cent of the company’s 52.1 billion outstanding shares.
Chairman Adeyemi Adeola retains the largest board holding at 12.26 billion units, equivalent to 23.52 per cent.
Vitafoam delivered strong performance in 2025, emerging among the top ten best-performing stocks on the NGX with a 300 per cent gain to close at N92.00 on December 31.
The company proposed a 1-for-5 bonus issue and N3.00 dividend per share ahead of its 64th Annual General Meeting on March 5, 2026, in Lagos.
Profit before tax surged 1,775 per cent to N21.48 billion in 2025 from N1.15 billion in 2024, while profit after tax rose 1,427 per cent to N14.54 billion.
Revenue grew 35 per cent to N111.38 billion, with basic earnings per share climbing to N9.43 from a loss of 72 kobo the previous year.
Management attributed the results to revenue expansion, strategic pricing adjustments, and improved cost controls.
The stock closed at N99.00 on January 14, 2026, recording a 1.2 per cent gain from N97.80, and has gained 7.61 per cent year-to-date.
