Lagos, July 10, 2023 – Dangote Cement Plc will soon commence its Tranche I share buy-back programme.
This was indicated in the company’s disclosure document sent to Nigeria Exchange Limited.
Under the Tranche I share buyback programme, 168,735,593 fully paid-up ordinary shares of 50 Kobo each, representing 1% of the entire current issued shares will be repurchased.
The programme is scheduled to commence on July 17, 2023 and it will take only two days to be completed on July 18 or whenever the entire tranche size has been purchased.
The re-purchase of the shares will take place in the open market at the NGX throughout the programme period.
The company said the shares being bought back by the Company under the Share Buy-Back Programme would be held as treasury shares as permissible under CAMA.
The execution of the Tranche I programme is not expected to have any material impact on the Company’s financial position.
Shareholders of Dangote Cement seeking to participate in Tranche I of the Share buy-back Programme are advised to contact their stockbrokers or any other independent professional adviser registered as a capital market operator by the SEC for further guidance on the submission of trades on the NGX’s trading platform. (GBN)
