Business - Companies & Markets - Featured - Local - March 3, 2021

Turnall Holdings Limited cautions shareholders dealing with the company’s shares

Leading manufacturer and supplier of fibre cement roofing, Turnall Holding Limited, has cautioned shareholders to exercise caution when dealing with the company’s shares since National Social Security Authority (NSSA) is still engaged in a transaction to dispose its 32.5% of share in the company.

Last month, Turnall Holdings Limited announced tobits shareholders that one of the company’s shareholders, the National Social Security Authority (NSSA), is still engaged in a transaction to dispose its 32.5% shareholding in the business.

NSSA is an established parastatal with the mission to provide sustainable Social Security and promote Occupational Safety and Health to all members through responsive schemes and services.

The parastatal’s disposal of shares follows a consolidation strategy by the banking sector designed to create a leaner and more manageable portfolio that enhances stakeholder value and consistently pay sustainable dividends to NSSA for the benefit of pensioners and other vulnerable groups such as orphans, widows and widowers.

In a statement, Turnall Holdings limited advised it’s shareholers that if NSSA’s is successful, it could have a material impact on the value of the Company’s shares.

“The Board therefore advises shareholders to continue exercising caution when dealing in their Turnall Holdings Limited shares and to consult their professional advisers before dealing in their shares until such time as the results of the said development are known.

The Board advises shareholders that the company’s unaudited financial performance for the year 2020 shows a significant improvement from the prior year and the company forecasts further improvements in the current year 2021. The financial results for the year ended 31 December will be published on or before the 31st March 2021,” reads the statement.

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