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The proposed merger of NASCON Allied Industries Plc with Dangote Sugar Refinery Plc and Dangote Rice Restricted has been accepted by the NASCON Board of Administrators.
Recall that NASCON and Dangote Sugar had earlier filed company notices on the Nigerian Change Restricted in July. The company discover filed by each corporations revealed the proposal, noting that it was an agenda for its board at their subsequent assembly.
However in one other replace, the corporate acknowledged that the board handed resolutions involving the merger and the unaudited monetary statements for the second quarter of 2022 after its assembly.
The company discover reads partially, “At this assembly, the Board of Administrators amongst different issues, handed the next resolutions: 1. Approval of the Unaudited Monetary Statements for the second quarter ended June 30, 2023; 2. Approval to undertake a scheme of merger among the many firm, Dangote Sugar Refinery Plc and Dangote Rice Restricted, topic to the approval of regulators and shareholders.“
What that you must find out about NASCON
A couple of weeks in the past, NASCON introduced the appointment of Thabo Mabe as its substantive Managing Director and Fatima Aliko-Dangote as a non-executive director.
It additionally recorded income development of 76.6 per cent to N58.8bn from N33.3bn in 2021, within the monetary 12 months ended December 2022. This surge was supported by development in salt (up 79.8 per cent) and seasonings (up 50.0 per cent) gross sales.
Additionally, the price of gross sales rose by 60.6 per cent to N34.2bn as towards N21.3bn declared in 2021.
Whereas gross revenue jumped by 105.2 per cent from N12bn in 2021 to N24.5bn within the interval below assessment, working bills rose 59.9 per cent to N15.2 bn in comparison with N9.5 bn in 2021.
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