Vitafoam Nigeria Plc has disclosed that one of its top insiders, Mr. Sanni Olalekan Akeem, sold shares valued at a cumulative N33.01 million in a series of transactions executed at the end of December 2025.
Okay News reports that the disclosure, dated January 13, 2026, was filed with the Nigerian Exchange Limited (NGX) in compliance with insider trading notification requirements.
Mr. Akeem serves as Vitafoam’s Company Secretary and Legal Adviser, a position that classifies him as a person with access to price-sensitive and non-public information.
In total, 356,029 ordinary shares of Vitafoam were sold over two trading days, December 30 and December 31, 2025.
The shares were disposed of at prices ranging between N90.15 and N93.10 per share, resulting in an aggregated transaction value of N33,010,150.15.
The average transaction price across all deals stood at approximately N92.43 per share.
The insider sale was structured as a series of smaller trades rather than a single bulk transaction, reflecting active market participation during the year-end trading window.
The largest single transaction involved the sale of 94,092 shares at N93.30 per share, while the smallest trade consisted of just 100 shares sold at N93.10.
All trades were executed on the floor of the NGX, ensuring transparency and adherence to exchange rules.
Under NGX and Securities and Exchange Commission regulations, insiders are required to promptly disclose any dealings in their company’s shares to protect market integrity and ensure equal access to information.
Vitafoam’s notification aligns with these requirements.
The insider sales do not appear to signal negative fundamentals, as the company recently declared a very impressive full-year result and proposed a robust bonus script issue.
Vitafoam emerged as one of the top-performing stocks in 2025, posting a +300% gain to close at N92.00 as of December 31, 2025, ranking 10th among NGX-listed equities for the year.
The stock opened 2026 at N92.00 and has since gained 7.61%, closing at N99.00 on Wednesday, January 14, 2026, after a 1.2% rise from N97.80.
The company announced a 1-for-5 script issue in addition to a proposed N3.00 dividend per share ahead of its 64th Annual General Meeting (AGM) scheduled for March 5, 2026, in Lagos.
The bonus issue involves capitalising N125.08 million from retained earnings to issue 250,168,812 new ordinary shares of 50 kobo each.
Vitafoam’s strong performance in the 2025 financial year saw profit before tax surge 1,775% from N1.15 billion in 2024 to N21.48 billion in 2025.
Profit after tax grew 1,427% to N14.54 billion, driven by revenue expansion, pricing adjustments, and tighter cost controls.
Group revenue increased 35% to N111.38 billion, while basic earnings per share climbed to N9.43 from a loss of 72 kobo in 2024.
The insider transaction has drawn attention from market watchers, who often monitor cumulative insider dealings for insights into perceived company prospects, though the sale aligns with broader year-end portfolio adjustments by many executives.
