Flour Mills of Nigeria Plc has notified the Nigerian Exchange and its stakeholders that it has received an offer from its majority shareholder, Excelsior Shipping Company Limited, to acquire all shares held by minority shareholders in Flour Mills.
The transaction will be executed through a Scheme of Arrangement between the company and its shareholders.
The company has received a ‘No Objection’ approval for the scheme from the Securities and Exchange Commission (SEC).
A total of 30,281 units valued at N30.936 million were traded this week in 19 deals compared with a total of 189,346 units valued at N187.047 million transacted last week in 28 deals. Source: NGX and Fundvine Research
The Central Bank of Nigeria (CBN) in an effort to address efficient and optimal circulation of currency circulation in the economy has directed Deposit Money Banks to ensure availability of cash to customers Over-the-Counter and through ATMs. The apex bank said it will intensify its oversight roles to enforce this new directive and ensure compliance. Members of[…]
