{"id":48995,"date":"2023-03-09T05:14:29","date_gmt":"2023-03-09T05:14:29","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=48995"},"modified":"2023-03-09T05:14:35","modified_gmt":"2023-03-09T05:14:35","slug":"dangote-cement-gets-secs-approval-for-new-share-buy-back","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/dangote-cement-gets-secs-approval-for-new-share-buy-back\/","title":{"rendered":"Dangote Cement gets SEC\u2019s approval for new share buy-back"},"content":{"rendered":"<p>Dangote Cement has received approval of the Securities and Exchange Commission (SEC) for the establishment of a new share buy-back programme.<\/p>\n\n\n\n<p>The company said in a Corporate Disclosure to the Nigerian Exchange Ltd. (NGX) on Wednesday that the&nbsp; programme would expire on Dec.12, which means months from the date of the shareholders\u2019 resolution.<\/p>\n\n\n\n<p>According to the company, the share buy-back programme will be executed under the approval granted by the company\u2019s shareholders at the Extraordinary General Meeting (EGM) of Dangote Cement.<\/p>\n\n\n\n<p>It said the EGM which was held on Dec. 13, 2022 was within the framework provided under Rule 398 (3)(xiv) of the SEC\u2019s rules and regulation Rules and Regulations and under the approval of the NGX.<\/p>\n\n\n\n<p>\u201cThe 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.<\/p>\n\n\n\n<p>\u201cThe company will continue to monitor the evolving business environment and market conditions, in making decisions on tranches of the share buy-back programme,\u201d it said.<\/p>\n\n\n\n<p>Dangote Cement Plc is Sub-Saharan Africa\u2019s largest cement producer with an installed capacity of 51.6Mta capacity across 10 African countries.<\/p>\n\n\n\n<p>It operates a fully integrated \u201cquarry-to-customer\u201d business with activities covering manufacturing, sales and distribution of cement.<\/p>\n\n\n\n<p>Dangote Cement is a subsidiary of Dangote Industries Ltd., a diversified and fully integrated conglomerate as well as a leading brand across Africa in businesses such as cement, sugar, salt, flour, pasta, beverages, and real estate, with new multibillion-dollar projects underway in the<\/p>\n\n\n\n<p>oil and gas, petrochemical, fertiliser and agricultural sectors.<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-48995\" data-postid=\"48995\" class=\"themify_builder_content themify_builder_content-48995 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>Dangote Cement has received approval of the Securities and Exchange Commission (SEC) for the establishment of a new share buy-back programme. The company said in a Corporate Disclosure to the Nigerian Exchange Ltd. (NGX) on Wednesday that the&nbsp; programme would expire on Dec.12, which means months from the date of the shareholders\u2019 resolution. According to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":21928,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1366,949],"tags":[643],"class_list":["post-48995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-economy","tag-dangote-cement","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dangote Cement gets SEC\u2019s approval for new share buy-back - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/dangote-cement-gets-secs-approval-for-new-share-buy-back\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dangote Cement gets SEC\u2019s approval for new share buy-back - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Dangote Cement has received approval of the Securities and Exchange Commission (SEC) for the establishment of a new share buy-back programme. 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