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Tag: PZ Cussons

Business

PZ Cussons quits Nigeria palm oil business, sells $70m stake

PZ Cussons PLC has formally announced its exit from Nigeria’s palm oil sector following a definitive agreement with Wilmar International Limited. Under the terms of the deal, Wilmar will acquire PZ Cussons’ 50% equity stake in their joint venture, PZ Wilmar Limited, for a cash consideration of $70 million. The development was revealed in a […]

News

NNPCL, Mele Kyari deny wrongdoing in Tantita pipeline contract award

The Nigerian National Petroleum Company Limited, its former CEO Mele Kyari, and others have filed a counter-affidavit denying allegations by the Incorporated Trustees of the AGIP Indigenous Contractors Association and others, who accused them of unlawfully awarding a pipeline surveillance contract to Tantita Security Services Limited in the Niger Delta. This was disclosed in a […]

News

PZ to exit Africa amid plunge in revenue

PZ Cussons Plc has announced that it has started a strategic assessment of its business in Africa, with a view of exiting the continent, which is particularly attributed to economic challenges in Nigeria such as inflation and the devaluation of the naira, which has significantly impacted the company’s sales and operations, resulting in a 48 […]

News

Shareholders commend SEC’s rejection of PZ Cussons’ buyout, delisting proposal

Shareholders under the aegis of the New Dimension Shareholders Association of Nigeria applauded the rejection of PZ Cussons’ bid to acquire shares of minority shareholders and delist from the NGX by the Securities and Exchange Commission. In a corporate disclosure, PZ Cussons (Holding) intended to buy the shares held by other PZ Cussons Nigeria shareholders […]

PZ Cussons Nigeria Plc has convened an extraordinary general meeting of shareholders following a N73.8 billion loss that reduced the value of its net assets.
Business

PZ Cussons shareholders to meet over N73bn loss

PZ Cussons Nigeria Plc has convened an extraordinary general meeting of shareholders following a N73.8 billion loss that reduced the value of its net assets. The meeting will discuss the unaudited financial statement for the period ending November 30, 2023, as well as steps to rectify the company’s negative net assets value, according to a […]

PZ Cussons Nigeria Plc has convened an extraordinary general meeting of shareholders following a N73.8 billion loss that reduced the value of its net assets.
Business

PZ Cussons Nigeria’s H1 2023/2024 losses hit N73.8bn

The financial results for the second quarter of the fiscal year 2023/2024, which ended on November 30, 2023, have been released by PZ Cussons Nigeria Plc. According to The Times, When compared to the N9.3 billion pre-tax profit realized in the same time of the previous fiscal year, the company’s pre-tax loss of N73.8 billion […]

PZ Cussons Nigeria Plc has convened an extraordinary general meeting of shareholders following a N73.8 billion loss that reduced the value of its net assets.
Business

Shareholders halt PZ Cussons capital reduction plans

PZ Cussons Nigeria Plc shareholders have cancelled resolutions passed at the company’s 74th Annual General Meeting that approved a reduction in share capital. The Punch reported that a statement filed with the Nigerian Exchange Limited on Tuesday states that the 75th AGM, held in Abuja, passed the new resolution overturning the previous ones. The resolutions were […]

PZ Cussons Nigeria Plc has convened an extraordinary general meeting of shareholders following a N73.8 billion loss that reduced the value of its net assets.
Business

PZ Cussons discloses 61,628 unclaimed shareholders’ dividends

The list of PZ Cussons’ shareholders who haven’t claimed their dividends has been made public, and it includes roughly 61,628 shareholders. The Times reported that the company stated that the list was posted online rather than in newspapers because of the enormous number of shareholders who had unclaimed dividends, according to a corporate filing available on […]

PZ Cussons Nigeria Plc has convened an extraordinary general meeting of shareholders following a N73.8 billion loss that reduced the value of its net assets.
Business

PZ Cussons raises share buybacks to N23 per unit

PZ Cussons Nigeria Plc’s board of directors has raised the offer price for the proposed buyback of the company’s shares from minority shareholders from N21 to N23 per unit. The Punch reported that the new offer was mentioned in the most recent update on the situation, which was sent to the Nigerian Exchange Limited on Thursday. […]

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