Dangote Cement Plc has scheduled an Extraordinary General Meeting (EGM) for 22nd of January, 2020, to consider the company’s proposed share buyback programme among other issues.
According to the circular published on the Nigerian Stock Exchange, Dangote Cement plans to buy back 10percent of its outstanding shares and thereafter cancel those shares within ten (10) business days of the last date of completion of the programme.
The company intends to fund the programme from its reserves which stood at N731.2billion as at September, 2019.
The share buy-back provides support for Dangote Cement share price which declined in 2019 and drive long term shareholder value.
Iheanyi Nwachukwu
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Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
