PZ Cussons Nigeria Plc (NGX: PZ) has published the list of shareholders with unclaimed dividends in the company.
The list which was published on the company’s website under investor relation contains 61,628 names of shareholders.
According to PZ Cussons Nigeria, the 1,258 page document published on the company website is in “lieu of publishing it in the newspapers due to the number of shareholders yet to claim their dividends.”
Shareholders whose names appear on the list are advised to contact the company registrar, First Registrars & Investor Services Limited at No 2 Abebe Village Road, Iganmu, Lagos State or via the e-mail address: info@firstregistrarsnigeria.com or ebusiness@firstregistrarsnigeria.com with a view to claiming the dividends.
- Read also: List of Dividends announced in 2023, qualification and payment dates
- How to recover unclaimed dividends in Nigeria
PZ Cussons Plc has consistently paid dividend to shareholders since 2014 except in 2021. On Thursday, the equity price closed flat at N23.30 per share since on the floor on the Nigerian Exchange.
In September this year, PZ Cussons Nigeria Plc notified the Nigerian Exchange Limited and the investing public that PZ Cussons (Holdings) Limited has informed the Board of Directors of the Company of its intention to acquire the shares held by all the other shareholders of PZ Cussons Nigeria Plc, subject to prevailing market conditions, at an offer price of ₦21 per share.
However, in November, the company revised the offer price to ₦23 per share.
PZ Cussons (Holdings) Limited holds 2.82 billion shares of PZ Cussons Nigeria Plc, representing 71.20% of the company’s 3.97 billion outstanding shares. Apart from PZ Cussons (Holdings) Limited UK, no other shareholder held more than 5% of the paid up capital of the PZ as at 31 May, 2022.
In a regulatory filling by company in September, PZ Cussons Group explained that they believe the transaction is necessary in order to enable them to significantly simplify and strengthen operations in Nigeria creating the foundations for the Nigerian business to deliver against its strategy, building a more agile and innovative business, and noted that PZ Cussons has been present in Nigeria since 1899 and expects Nigeria to remain an important market for the Group for many years to come.
The proposed transaction is intended to be implemented under a Scheme of Arrangement in line with section 715 of the Companies and Allied Matters Act, No.3 of 2020 (as amended) and other applicable rules and regulations. This will require the Company to convene a general meeting of its shareholders by an order by the Federal High Court.
About the company
PZ Cussons Nigeria Plc is a Company incorporated in Nigeria on 4 December 1948 under the name of P.B. Nicholas and Company Limited. The name was changed to Alagbon Industries Limited in 1953 and to Associated Industries Limited in 1960.
The Company became a public Company in 1972 and was granted a listing on the Nigerian Stock Exchange. The name was changed to Paterson Zochonis Industries Limited on 24 November 1976 and in compliance with the Companies and Allied Matters Act 2020 as amended, it changed its name to Paterson Zochonis Industries Plc on 22 November 1990.
On 21 September, 2006, the Company adopted its present name of PZ Cussons Nigeria Plc.
The principal activities of the group are the manufacture, distribution and sale of a wide range of consumer products and home appliances through owned depots. These products are leading brand names throughout the country in detergent, soap, cosmetics, refrigerators, freezers and air-conditioners. The group also distributes products of Nutricima Limited, Harefield Industrial Nigeria Limited and PZ Wilmar Food Limited.
The address of the registered office is 45/47 Town Planning Way, Ilupeju, Lagos.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
