Dangote Cement Plc has announced the completion of the first tranche (Tranche I) of its share buy-back programme which was announced on December 21, 2020.
Relevant details of the Tranche-I share buyback programme show it commenced on Wednesday December 30, 2020 and completed on Thursday December 31, 2020. Shares repurchased were 40.2million units, representing 0.24percent of the Company’s issued and fully paid ordinary shares. Shares repurchased were value at N9.769billion at an average price of N243.02.
Following the conclusion of Tranche I, the total number of residual issued and fully paid outstanding shares of Dangote Cement Plc amounts to 17,000,307,404 units.
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Execution of this Tranche-I did not have any material impact on the Company’s financial position, according to a notice signed by Edward Imoedemhe, Deputy Company Secretary.
The Company said it will continue to monitor the evolving business environment and market conditions, in making decisions on further tranches of the Share Buy-Back Programme.
Dangote Cement is Africa’s leading cement producer with operations in over ten (10) African countries including Nigeria, Cameroon, Congo, Ethiopia, Ghana, Senegal, Sierra Leone, South Africa, Tanzania and Zambia.
The Company generated revenues of N761.44 billion in the nine-month period ended September 30, 2020 (9M 2019: N679.79 billion) and a net profit of N208.69 billion (9M 2019: N154.35 billion).
