Skip to main content

Dangote Cement seeks shareholders’ approval for “Share buy Back”

Dangote Group, Flour Mills get 60,000 hectares to set up industries in NasarawaBy Peter Egwuatu

Dangote Cement Plc has commenced steps to buy back its shares in a bid to improve return on equity and shareholder value.

Lagos assembly indicts Dangote trucks over damaging of roads

In a notification to the Nigerian Stock Exchange (NSE) yesterday Dangote Cement said it would convene an extra-ordinary general meeting (EGM) of shareholders for January 22, 2020, to amend its Articles of Association to enable it undertake a share buy-back of up to 10 percent of its issued shares on such terms, and conditions and at such times as the board of directors deems fit.

According to the company, “The relevant shares will be repurchased out of the profits of the company and any such number of shares bought under the programme is required to be cancelled in accordance with the Securities and Exchange Commission (SEC) rules and the NSE rule book which will consequently lead to a reduction in issued share capital.”

Chairman of the company, Alhaji Aliko Dangote, said the shareholders and staff are the bedrock of the company and expressed optimism on the prospects of the company.

Equity market gains 0.6% as Dangote Cement, Access Bank, UBA surge

According to him, the company will be effectively operating in a minimum of 18 African countries, while it would soon increase the capacity of its Obajana Plant to 16 million metric tons, making it one of the biggest cement plant in the world.

Vanguard

The post Dangote Cement seeks shareholders’ approval for “Share buy Back” appeared first on Vanguard News.


by Nwafor via Vanguard News https://ift.tt/2SIoHnv Wikipedia Our Friends From Virginia
Labels:

Comments

Post a Comment

Popular posts from this blog

CBN depreciates naira to N410.25 in I&E window

CBN By Elizabeth Adegbesan The Central Bank of Nigeria depreciated the naira yesterday by N16.25 kobo depreciated in the Investors and Exporters (I&E) window. This represents the third and  biggest daily depreciation of the naira since 2017. Recall, the indicative exchange rate for the window jumped to N374 per dollar at the close of business from N368.33 per dollar on 11th of March 2020, translating to N5.67 depreciation for the naira. READ ALSO: ASUU strike cripples economies of university communities in 2020 Similarly,  last month,  CBN depreciated the naira  by N7.75 in the window, as the FMDQ platform, showed that the I&E window rose to N393/$ at the close of business from N385.5/$  November 24 2020. Data from FMDQ showed that the indicative exchange rate for the window rose to N410.25 per dollar from N394 per dollar on Wednesday, indicating N16.25 kobo depreciation of the naira. However, the volume of dollars (turnover) traded in the win...
Post a Comment
Read more

Court sentences man to death by hanging for killing mother over ‘disappearing’ charm

A High Court sitting in Jos, on Thursday sentenced a 20-year-old man, Agugu Adau, to death by hanging for killing his mother. Continue reading Court sentences man to death by hanging for killing mother over ‘disappearing’ charm at Vanguard News Nigeria. by adekunle via Vanguard News Nigeria https://ift.tt/2SvOYSw Wikipedia Our Friends From Virginia
Post a Comment
Read more

Algerian protesters march on in defiance of ‘The Power’

Riad Mostefai has marched through the capital of Algeria every Friday since February to demand a purge of the ruling hierarchy, an end to corruption and the army’s withdrawal from politics. Though some of his demands have been met, Mostefai plans to keep on marching each week along with tens of thousands of others who don’t believe an election in December will change anything, as long as an opaque ruling elite remains in charge. Continue reading Algerian protesters march on in defiance of ‘The Power’ at Vanguard News. by Temisan Amoye via Vanguard News https://ift.tt/36ick64 Wikipedia Our Friends From Virginia
Post a Comment
Read more