DANGFLOUR Postpones Annual General Meeting for the Year Ended December 2018


Friday, October 11, 2019   /12:49PM  / By NSE


Dangote Flour Mills Plc ("DFM" or the "Company") hereby notifies its shareholders that the Company has obtained the approval of the Corporate Affairs Commission ("CAC") to extend the time within which the Company can hold its Annual General Meeting ("AGM") for the year 2019. 

As earlier announced to all shareholders and the investing public, the board of directors of the Company (the "Board") received a binding offer on April 23, 2019 from Olam International Limited ("Olam") for the acquisition of the entire issued shares of the Company not currently held by Olam through its subsidiary, Crown Flour Mills Limited (the "Offer), by way of a scheme of arrangement. Upon due consideration of the Offer and receipt of regulatory approval in principle, the Board decided on August 5, 2019 to recommend the Offer to the shareholders at a court-ordered meeting (the "Court Ordered Meeting"), scheduled to hold on the 14th of October, 2019, for their approval. 

Based on the forthcoming Court Ordered Meeting, the Board is of the considered opinion that it will not be practical nor effective to convene an AGM shortly before the Court Ordered Meeting and has therefore, sought and obtained the approval of the CAC to hold the AGM no later than December 21, 2019. In view of the fact that the outcome of the Court Ordered Meeting is unknown, the Board is unable to propose a specific date for the AGM at this time. 

The notice of AGM will be circulated to all shareholders as soon as a date is fixed.


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