Dangote Cement Plc Renews Its Share Buyback Program

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Dangote Cement to Commence Tranche 1 Share Buyback Program Brandspurng1

This is to announce that the Annual General Meeting (AGM) of Dangote Cement Plc. was held on 26th May 2021, at Eko Hotel and Suites, Victoria Island, Lagos.

At the AGM, the shareholders passed a special resolution renewing the Share Buyback Program, on such terms and conditions and within such timelines as the Board of Directors may determine, subject to obtaining requisite regulatory approvals.

Dangote Cement to Commence Tranche 1 Share Buyback Program Brandspurng1

Dangote Cement Plc. had established this Programme pursuant to a resolution of the Company on January 22, 2020, for the repurchase of up to 10% of its total issued shares from the shareholders.

However, the COVID-19 pandemic had made it challenging to fully implement the Programme as planned.

With the stabilization of the stock market and improvement in economic conditions, the Board of Directors consequently decided that it is in the best interest of the Company to undertake further tranches of the Programme.