Dangote Cement Plc (DCP) has announced the completion of the first tranche of its share buy-back programme which was announced on 7 July, 2023.
Total Number of shares repurchased was 121,404,714, representing 0.71% of the Company’s issued and fully paid ordinary shares, valued at N41.156 billion at the average share price of N339.
Following the conclusion of Tranche I, the total number of issued and fully paid outstanding shares of DCP amounts to 16,752,154,537.
According to Dangote Cement, the repurchased shares will be held as treasury shares and may subsequently be cancelled. Execution of this Tranche 1 did not have any material impact on the Company’s financial position.