Dangote Cement, which currently has 17.04 billion fully paid up ordinary shares of 50 kobo each, would be buying back 1.70 billion shares.
It said the share buy-back was going to be on terms and conditions determined by the board of directors.
According to the notice, the buy-back programme will be completed within 12 months from the date of receipt of the approval of shareholders for the programme.
The notice read in part, “Unless required by law or directed by appropriate regulatory authority, the company may cancel such number of issued shares repurchased, or otherwise acquired under the proposed transaction as confirmed by the company’s registrar and diminish the amounts of its share capital by the amount of its shares so cancelled, in accordance with all applicable laws and regulations.
“The shares will be repurchased out of the profits of the company and such number of shares bought under the programme is required to be cancelled in accordance with the Securities and Exchange Commission rules and the Nigerian Stock Exchange Rulebook 2015, which will consequently lead to a reduction in issued share capital.”
The company said the share buy-back also aimed to improve shareholder value in order to facilitate long-term growth.
It said the buy-back resolution would be passed as a special resolution to the provisions of the Sections 48 and 106 of the Companies and Allied Matters Act as well as Rule 398(3)(iv) of the SEC Rules.
Dangote Cement said an extraordinary general meeting had been convened to consider, and if thought fit, approve the alteration of the articles, programme and all matters incidental thereto.
It added that the self-tender offer price would be determined by the board, but would not be more than five per cent of above the average calculated market price over the five days preceding the offer.
It said though there would be brokerage fees and other costs, the management was of the opinion that the proposed share buy-back programme would not have any adverse effect on the company’s working capital position and gearing ratio in the long term.
%20(6)_1738229718.jpeg)
Posts
Thank you for reaching out to us. We are happy to receive your opinion and request. If you need advert or sponsored post, We’re excited you’re considering advertising or sponsoring a post on our blog. Your support is what keeps us going. With the current trend, it’s very obvious content marketing is the way to go. Banner advertising and trying to get customers through Google Adwords may get you customers but it has been proven beyond doubt that Content Marketing has more lasting benefits.
We offer majorly two types of advertising:
1. Sponsored Posts: If you are really interested in publishing a sponsored post or a press release, video content, advertorial or any other kind of sponsored post, then you are at the right place.
WHAT KIND OF SPONSORED POSTS DO WE ACCEPT?
Generally, a sponsored post can be any of the following:
Press release
Advertorial
Video content
Article
Interview
This kind of post is usually written to promote you or your business. However, we do prefer posts that naturally flow with the site’s general content. This means we can also promote artists, songs, cosmetic products and things that you love of all products or services.
DURATION & BONUSES
Every sponsored article will remain live on the site as long as this website exists. The duration is indefinite! Again, we will share your post on our social media channels and our email subscribers too will get to read your article. You’re exposing your article to our: Twitter followers, Facebook fans and other social networks.
We will also try as much as possible to optimize your post for search engines as well.
Submission of Materials : Sponsored post should be well written in English language and all materials must be delivered via electronic medium. All sponsored posts must be delivered via electronic version, either on disk or e-mail on Microsoft Word unless otherwise noted.
PRICING
The price largely depends on if you’re writing the content or we’re to do that. But if your are writing the content, it is $60 per article.
2. Banner Advertising: We also offer banner advertising in various sizes and of course, our prices are flexible. you may choose to for the weekly rate or simply buy your desired number of impressions.
Technical Details And Pricing
Banner Size 300 X 250 pixels : Appears on the home page and below all pages on the site.
Banner Size 728 X 90 pixels: Appears on the top right Corner of the homepage and all pages on the site.
Large rectangle Banner Size (336x280) : Appears on the home page and below all pages on the site.
Small square (200x200) : Appears on the right side of the home page and all pages on the site.
Half page (300x600) : Appears on the right side of the home page and all pages on the site.
Portrait (300x1050) : Appears on the right side of the home page and all pages on the site.
Billboard (970x250) : Appears on the home page.
Submission of Materials : Banner ads can be in jpeg, jpg and gif format. All materials must be deliverd via electronic medium. All ads must be delivered via electronic version, either on disk or e-mail in the ordered pixel dimensions unless otherwise noted.
For advertising offers, send an email with your name,company, website, country and advert or sponsored post you want to appear on our website to advert @ alexa. ng
Normally, we should respond within 48 hours.