The Board of Directors of Dangote Cement Plc (NSE Ticker: DANGCEM) will meet on October 23, 2020. The information is contained in a notification to the Nigerian Stock Exchange and the investing public, signed by Edward Imoedemhe, Deputy Company Secretary.
In view of this, DANGCEM shall enter a closed period from October 8, 2020, until 24 hours after the relevant resolutions taken at the Board meeting are released to the public.
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The closed period is applicable to all parties that may at any time possess sensitive information that may materially affect the price of the securities of the company. Accordingly, no insider may deal in the securities of the company during the closed trading period.
About the Company
Dangote Cement Plc was incorporated in Nigeria as a public limited liability company on 4th November, 1992 and commenced operations in January 2007 under the name Obajana Cement Plc. The name was changed on 14th July, 2010 to Dangote Cement Plc.
Its parent company is Dangote Industries Limited. Its ultimate controlling party is Alhaji Aliko Dangote.
The registered address of the Company is located at 1 Alfred Rewane Road, Ikoyi, Lagos, Nigeria.
The principal activity of the Company and its subsidiaries is to operate plants for the preparation, manufacture, and distribution of cement and related products.
The Company’s production activities are currently undertaken at Obajana town in Kogi State, Gboko in Benue State and Ibese in Ogun State; all in Nigeria.
DANGCEM have 17,040,507,405 outstanding shares and a market capitalization of N2.453 trillion.
DANGCEM’s H1 2020 financial statements showed a growth in both revenue and profit for the period, despite the Covid-19 lockdown.
We expect a continued positive performance from the company, and have a BUY rating on its stock.