Company Secretary and Legal Adviser of
Dangote Flour Plc, Aisha Ladi Isa has
notified the management of the Nigerian
Stock Exchange (NSE), of the company’s
change of name to Tiger Branded Consumer
Goods Plc.
The new name, according to Isa, was
scripted to better reflect the new
ownership of the company, as the
change in the substantial ownership
and shareholding of the company has
been approved by the shareholders.
In a letter dated September 2nd, 2015,
the company’s secretary said the
change of name was in line with the
special resolution passed at its annual
general meeting, held in July 2015.
She, therefore, requested the
Exchange to effect the change of name
as well as use the new symbol of Tiger
Branded Consumer Goods. The new
name has been approved by the
Corporate Affairs Commission.
Tiger Brands, it would be recalled,
acquired a 63.35 per cent
shareholding interest in Dangote Flour
Mills in Nigeria in 2012 for
approximately R1.5billion.
Chief Executive Officer of Tiger
Brands, Peter Matlare, had then said:
“We are especially pleased with the
successful conclusion of this
transaction. We believe it will present
growth opportunities for both
organisations and be mutually
beneficial. Dangote Flour Mills will add
significant scale to Tiger Brands’
existing Nigerian businesses.”
The company, for the third quarter
ended June 30, 2015, recorded an
increase in the group’s revenue from
N28.7 billion in the corresponding
period of 2014 to N33.1 billion. Its
gross profit also rose to N2.6 billion,
against N1.75 billion it recorded in the
corresponding period of 2014.
