Dangote Cement Plc has announced that it mopped up about 126.75 million ordinary shares of 50 kobo each worth N35.1 billion during its just concluded share buyback programme.
In a regulatory filing at the Nigerian Exchange (NGX), Dangote Cement indicated that 126.748 million shares, representing 0.74 per cent of the company’s issued and fully paid ordinary shares were repurchased at an average price of N276.89 per share, totaling N35.095 billion.
Following the conclusion of second tranche of the buyback, the total number of residuals issued and fully paid outstanding shares of Dangote Cement now stands at 16.874 billion ordinary shares of 50 kobo each.
According to the cement group, the repurchased shares will be held as treasury shares and may subsequently be cancelled.
“Execution of this Tranche II did not have any material impact on the company’s financial position,” the company stated.
Dangote Cement had between Wednesday, January 19, 2022 and Thursday, January 20, 2022 through open market on NGX repurchased its shares.
Credit: thenationonlineng.net
