Dangote Sugar paid-up shares increase after merger with Savannah Sugar
Dangote Sugar Refinery Plc on Wednesday listed additional 146,878,241 ordinary shares on the board of the Nigerian Stock Exchange (NSE).
In a notice signed by the NSE Head of Listings Regulation Department, Godstime Iwenekhai, the additional shares were the fall out from the scheme of merger between the Dangote Sugar Refinery and Savannah Sugar Company Limited.
With the listing of the shares, Dangote Sugar total issued and fully paid-up shares have increased to 12,146,878,241 ordinary shares from 12 billion shares previously.
“Dealing Members are hereby notified that additional 146,878,241 ordinary shares of Dangote Sugar Refinery Plc were today, Wednesday, 30 September 2020 listed on the Daily Official List of The Nigerian Stock Exchange (The Exchange).
“The additional shares listed on The Exchange arose from the Scheme of Merger between Dangote Sugar Refinery Plc and Savannah Sugar Company Limited.
“With this listing of the additional 146,878,241 ordinary shares, the total issued and fully paid-up shares of
Dangote Sugar Refinery Plc has now increased from 12,000,000,000 to 12,146,878,241 ordinary shares of
50 kobo each,” the NSE stated in the notice .