Vitafoam Nigeria Plc has disclosed that one of its top insiders, Mr. Sanni Olalekan Akeem, sold shares in the company valued at a cumulative N33.01 million in a series of transactions executed at the end of December 2025.
The disclosure, dated January 13, 2026, was filed with the Nigerian Exchange Limited (NGX) in line 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 the deals stood at approximately N92.43 per share.
What the corporate disclosure reveals
Vitafoam’s insider dealings disclosure revealed multiple trades executed over two days. 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.
According to the filing, 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.
Other transactions fell within similar price levels, suggesting that the shares were sold at prevailing market prices without any steep discount. All the trades were executed on the floor of the NGX, ensuring transparency and adherence to exchange rules.
Market watchers often pay close attention to the cumulative value of insider transactions, which most times provide insight into the significance of such dealings.
Regulatory transparency and investor interpretation
Under NGX and Securities and Exchange Commission rules, 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 regulatory expectations.
The insider sales do not signal negative fundamentals in view of the fact that the company recently declared a very impressive full-year result, offering shareholders a robust bonus script.
It will be recalled that the stock emerged among the top best performing stocks in 2025 in line with the broader company performance, valuation levels, and prevailing market conditions.
The equity price performance
The stock closed on Wednesday, January 14, 2026 at N99.00 per share, recording a 1.2% gain over its previous closing price of N97.80. It opened this year with a share price of N92.00 and has since gained 7.61% on that price valuation, ranking it 71st best performing stock on NGX since this year.
Vitafoam’s shares appreciated strongly in 2025 following the company’s improved fundamentals, posting +300% gain to close at N92.00 as of December 31, 2025. It ranked the 10th best performing stock on NGX in 2025.
Vitafoam Nigeria Plc announced a 1-for-5 script issue in addition to a proposed N3.00 dividend per share distribution ahead of its 64th Annual General Meeting (AGM) slated for March 5, 2026, in Lagos.
The bonus issue, which has been proposed for shareholder approval, involves the capitalisation of N125.08 million from retained earnings to issue 250,168,812 new ordinary shares of 50 kobo each.
Vitafoam’s decision to issue a bonus and higher dividend reflected the company’s stellar performance in the 2025 financial year. The foam maker posted a 1,775% surge in profit before tax, rising from N1.15 billion in 2024 to N21.48 billion in 2025. Profit after tax grew by 1,427% to N14.54 billion, which management attributed to revenue expansion, pricing adjustments, and tighter cost controls.
Group revenue increased by 35% to N111.38 billion, while basic earnings per share climbed to N9.43, compared to a loss of 72 kobo in 2024.