Dangote Cement proposes share buyback of 10% of issued shares

Dangote Cement has notified the investing public of its proposed share buyback of 10% of its issued shares. The special resolution is to be considered at the Extra-ordinary General Meeting (EGM) that is scheduled to hold on the 13th December 2022.

In a statement available on the website of the Nigerian Exchange, a Special Resolution that would be passed at the Extra-ordinary General Meeting (EGM) is stated thus:

“That the company be and is hereby authorised to undertake a share buyback of up to 10% of its issued shares as of the date of this resolution (excluding any treasury shares in the Company’s share capital), on such terms and conditions, in such volumes and at such times as the Board of Directors deems fit, provided that the authority granted therein shall continue to be in force until the company has acquired up to an aggregate 10% of its issued shares as stated above”

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