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

Dangote Cement seeks shareholders’ approval for “Share buy Back” - The Great Case

By 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.

Comments

Buhari’s five years in the saddle (2) - The Great Case

How to Seduce Straight Guys President Muhammadu Buhari TAKING it from the regime’s three-point agenda: revival of the economy, securing the country and fighting corruption, it can be safely said that nothing has really changed (except in many cases for the worse). The economy was sagging when he took over in 2015. It went into recession later that year and marginally broke the surface in late 2018. The nation has gone back to the debt trap under this regime, and more borrowing is likely to continue in the post-COVID-19 pandemic economy. Perhaps the area the Buhari government has made some impact is the anti-graft war. Though corruption is still very endemic in government, there is a great awareness of an ongoing anti-graft war, with many former governors jailed and lots of stolen funds recovered. The regime has failed to tackle the nation’s security challenges. Before Buhari took over, Boko Haram Islamic terror was the main problem facing the nation. Today, the Islamists are s...

PDP postpones purchase of forms for Anambra governorship primaries - The Great Case

How to Seduce Straight Guys The Peoples Democratic Party (PDP) on Sunday announced the postponement of the sale of forms for Anambra governorship primary election from the earlier scheduled date of Monday, March 1, to Wednesday, March 10. The party in a statement by its National Organising Secretary, Retired Col. Austin Akobundu, in Abuja also announced the extension of the tenure of its zonal caretaker Committees for South-West, North-Central and North-West by 30 days. Akobundu also gave March 1, as the last day for submission of already purchased and completed forms for its zonal congresses in all the zones. “Consequently, screening of aspirants for North-East, South-East and South-South Zonal congresses is now scheduled for Tuesday, March 2, at the zonal headquarters. “In the same vein, the tenures of Zonal Caretaker Committees for South-West, North-Central and North-West have been extended for another period of 30 days. “The fresh extension takes effect from March 10, ...

A destiny among the nations (2) - The Great Case

How to Seduce Straight Guys Dr. Obadiah Mailafia By Obadiah Mailafia THE late French agronomist, René Dumont, once lamented that African nations have no purpose. I would imagine he was starting from the premise that the majority of our countries emerged as colonial contraptions that did not follow the linear path of nation building and political evolution followed by the European Westphalian state. With regard to Nigeria, many commentators refer to “the mistake of 1914”. My friend Tony Nnaji, a jurist of uncommon erudition, has made the valid point that the 1914 amalgamation did not involve any plebiscite or consultation with the peoples so affected. It is self-evident that the British had no noble intentions in bringing us together. They did it for reasons linked to Weberian administrative rationality, including the need to build a war-economy at the wake of World War I. The mysterious hand of Providence is often at work in human affairs, as Cambridge historian Sir Herbert Butte...

Tonkona

Search This Blog