Cemento Dangote offers to repurchase shares of 10% of the issued shares

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Cemento Dangote has notified the investing public of its proposed share repurchase of 10% of its issued shares. The special resolution will be considered in the Extraordinary General Assembly (EGM) that is scheduled to be held on 13the December 2022.

In a statement available on the Nigerian Exchange website, a special resolution to be passed at the Extraordinary General Meeting (EGM) states as follows:

“That the company is and is hereby authorized to undertake a share repurchase of up to 10% of its issued shares as of the date of this resolution (excluding any treasury shares in the Company’s capital stock), on such terms and conditions, in such volumes and on the occasions that the Board of Directors deems appropriate, with the understanding that the power granted therein will continue in force until the company has acquired up to a total of 10% of its issued shares in the manner indicated above. ”

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