Food Concept Plc Holds 16th AGM; NASD USI Down By -2.19% WoW


Friday, November 02, 2018 / 08:06 PM / NASD Plc

On the 1st of November 2018,  Food Concepts PLC held its 16th Annual General Meeting  at Sheraton Hotel, Ikeja, Lagos, having not held any since 2014. The AGM served as an opportunity for the board of directors and shareholders to discuss prior year performances, as well as, future plans.
Key events included:

  • Presentation of the Audited financial statement for the accounting period ended 31st December 2015 & 2016
  • Ratification and approval of the appointment of Runa Alam, Marc Stoneham, Babacar ka, Adefolarin Adebayo Ogunsanya as Directors of the company
  • Deliberations over a proposed right issue which instigated uproar among the shareholders due to terms considered unfavourable to existing shareholders.

The AGM concluded with the MD/CEO assuring shareholders of a positive 2018 outlook compared to the tumultuous performances recorded in 2015 and 2016. The spectacular 40% growth recorded by Chicken Republic in 2017 was also referenced as an indicator of expected future performances.

Market Activities For Week 44

As at close of trade week on 02 November 2018, market Capitalisation decrease to 474.49 billion from last week's previous 485.11 billion, which shows a 2.19% decline in Capitalisation. Also the USI for the week ending 02 November, 2018 recorded a 2.19% decrease from 697.97 points to 682.70 points.

Trade Summary


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Market in Numbers (Year-to-Date)

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Macroeconomic Indicators 

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