Dangote Sugar Refinery Plc (NSE – DANGSUGAR) has joined the list of other listed companies on the Nigerian Stock Exchange, to postpone its meeting of the Board of Directors meeting concerning third-quarter earnings due to growing unrest and the #ENDSARS protest across the country.
The Board of Directors of Dangote Sugar Refinery Plc were scheduled to meet on Friday 23 October 2020 to consider the unaudited financial statement of the Company for the third quarter ended September 30, 2020. However, the meeting has been postponed due to the “current precarious situation in the country” according to the corporate statement from the company.
The company said the new date for the meeting will be “communicated as soon as normalcy returns” in the country.
Dangote Sugar Refinery Plc said the closed period which had already commenced will continue until 24 hours after the results are filed with the Exchange. It added that all insiders have been duly informed.
In similar move, Dangote Cement Plc postponed its Board of Directors meeting that was scheduled to hold on Friday 23 October. The company also cited the “precarious situation in the country.”
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The statement signed by Mrs. Temitope Hassan, the Company Secretary stated that “further to our announcement made on October 8, 2020, the Company wishes to notify the Exchange and the investing public that the meeting of the Board of Directors of the Company earlier scheduled to be held on Friday, October 23, 2020, to consider the draft unaudited financial statement of the Company for the Q3 ended September 30, 2020, has been postponed in view of the current precarious situation in the country.
“The new date for the meeting will be communicated as soon as normalcy returns.
“The Closed Period which has already commenced will continue till 24 hours after the filling of the Results. No insider of the Company, including its Directors, Employees, Advisers, and Consultants and their connected persons may deal directly or indirectly in the Shares of the Company during the Closed Period.”
All Dangote Sugar Refinery Plc Insiders have been duly informed.
The equity price of Dangote Sugar Refineries closed flat at N13.80 per share.
