DangoteCement today released guidelines & explanatory statements regarding the company’s Share Buy-Back programme, looking to purchase estimated 1.704bn ordinary shares (or 10%) of its existing total of 17.040bn ordinary shares.
The Programme is expected to be completed within 12-months.
Africa’s largest cement maker @DangoteCement says Share Buy-Back pricing to be based on Open market prevailing market price; Offer price to be determined by Board, but not higher than 5% above average calculated market price over 5 days preceding the offer.
DangoteCement subsequently issued notice of special shareholders meeting for January 22, 2020 in Lagos to ratify proposals for share capital restructuring and purchase of own shares (share buy-back) programme.