Alhaji Dr. Aliko Dangote, GCON |
According to
Aisha Ladi Isa, the new name is to better reflect the new ownership of the
company as the change in the substantial ownership and shareholding of the
company has been approved by the shareholders, adding that the change of name
is in line with the special resolution passed at its annual general meeting
(AGM), held in July 2015.
We gathered
that South Africa’s Tiger Brands Limited,
with 63 per cent equity in the company in 2012 recently advised
shareholders that it had reached a decision not to provide any further
financial support with respect to its investment in Dangote Flour Mills Plc. It
said it was it was currently exploring various alternatives with regard to its
investment in the flour milling company.
The withdrawal of funding by Tiger Brands, made the richest man in Africa, Alhaji Dr. Aliko Dangote (GCON), to resign as chairman of flour milling firm. He alongside Olakunle Alake, Asue Ighodalo and Arnold Ekpe as directors.
Tectono Business Review learnt that owing to these latest developments,
the company urged shareholders to exercise caution when dealing in the
company’s securities until a further announcement is released.The withdrawal of funding by Tiger Brands, made the richest man in Africa, Alhaji Dr. Aliko Dangote (GCON), to resign as chairman of flour milling firm. He alongside Olakunle Alake, Asue Ighodalo and Arnold Ekpe as directors.
It could be recalled that Tiger Brands acquired a 63.35 per cent shareholding interest in Dangote Flour Mills in Nigeria in 2012 for approximately R1.5 billion.
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