The President of Pearl Awards, Mr. Tayo Orekoya has said the awards would be restructured to accommodate other players in the capital market such as registrars, fund managers and portfolio advisers.
The Pearl Awards, established since 1995, reward rewards performances of listed companies as part of efforts to growth the capital market.
Speaking on the 2019 edition of the awards slated to hold on November 24, in Lagos, Orekoya said that nominees and ultimate award winners in the main competitive awards category, as in recent past years, were determined utilising nine performance indices. They are: turnover growth; return on equity; earnings yield; share price appreciation; dividend cover; dividend yield; net asset ratio; dividend growth and profit margin ratio.
According to hi, the theme for 2019 edition is: ‘Celebrating sustainable leadership and resilience.’
He explained that awards are in three categories.Firstly is the main competitive awards category (sectoral leadership awards, market excellence awards and overall highest award). Secondly is honorary awards category (Pearl chief executive officer of the year award, outstanding honorary award for capital market development, capital market journalist of the year award and media award for capital market reporting). Thirdly is special recognition awards category (issuing house of the year award, stockbroking firm of the year award and corporate governance award).
Orekoya pointed out that the performance of the Nigeria capital market remains unstable.
“The instability has continued to have its negative impact on investors’ confidence, especially losses sustained in terms of value depletion by stock holders in the equities market on our stock exchange,” he said.