Dangote Cement Plc has announced that the Securities and Exchange Commission has approved the establishment of a new share buy-back programme. The programme will expire on 12 December 2023, 12 months from the date of the shareholders’ resolution.
The share buy-back programme will be executed under the approval granted by the Company’s shareholders at the Extraordinary General Meeting of Dangote Cement PLC which was held on 13 December 2022, within the framework provided under Rule 398 (3)(xiv) of the Securities and Exchange Commission’s Rules and Regulations and under the approval of the Nigerian Exchange Limited.
The share buy-back will be undertaken through an open market offer or self-tender, at such times and on such terms as the Management of the Company may determine, subject to prevailing market conditions. The Company will continue to monitor the evolving business environment and market conditions, in making decisions on tranches of the share buy-back programme.