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FTN Cocoa Processors for listing on NSE

Category: Investors NewsBeat

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FTN Cocoa Processors for listing on NSE

January 21, 2008/Guardian


Preparatory to its listing on the Nigerian Stock Exchange by introduction in the first quarter of this year, FTN Cocoa Processors Limited has restructured its board of directors.


Already, the company has applied to the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) for the listing of the company\'s shares.


The company would be listing its entire 980 million shares of 50 kobo each at N1.90 per share in the first tier segment of the secondary market, according to an impeccable market source.


The company after a successful private placement, has announced the appointment of Chief Olusegun Osunkeye and Sir S.O. Oguntimehin to its Board of Directors as Chairman and Non-Executive Director respectively.


Other members of the Board are Mr. Aderonmu Ademola Abiola, Managing Director/Chief Executive Officer; Mr. Akin Laoye, Executive Director; and Mr. Soji Balogun, Director.


Chief Olusegun Osunkeye, is an astute businessman and a Captain of Industry. He is on the board of many blue-chip companies including GSK Plc, WAPCO Plc, among others. He is also a member of the governing council of the University of Lagos, to mention but few.


Chief S.O. Oguntimehin, FCA, former president of ICAN is also on the board of directors of many blue-chip companies such as Academy Press Plc, Smart Products Nigeria Plc, among others.



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