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Economy

PZ Cussons Shareholders to Meet Over Sale of Nutricima for $20.3m

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PZ Cussons Nigeria

By Dipo Olowookere

On Thursday, September 24, 2020, shareholders of PZ Cussons Nigeria Plc will converge for an Extraordinary General Meeting (EGM) to take a final decision on the sale of the business and assets of Nutricima Limited to FrieslandCampina Wamco Nigeria Plc and FrieslandCampina Nederland B.V.

The company plans to sell and transfer to Friesland a portion of its land on Plot 20A, Ikorodu Industrial Scheme in Ikorodu, Lagos State.

The forthcoming meeting was earlier fixed for Tuesday, July 28, 2020, but it could not take place.

But later this month, the event will take place by 11am at the Command Centre, PZ Cussons Nigeria Plc, 45/47 Town Planning Way, Ilupeju, Lagos.

In April 2020, the parent company of the Nigerian subsidiary, PZ Cussons Plc, said it was not expecting much from its largest market in Africa because the COVID-19 pandemic has made “the situation in Nigeria uncertain.

“All our Nigerian businesses are likely to be impacted by the significant disruption to both manufacturing and route to market,” the leading British soap and cosmetic manufacturer had further said.

In the trading update released then by the firm, it confirmed the “sale of local Polish brand Luksja for £9.2 million in the quarter and recently announced the disposal of Nutricima, our Nigerian milk business, for $20.3 million.”

Business Post reports that Nutricima is owned by Milk Ventures (UK) Limited, a private liability company owned by PZ Cussons Plc in the United Kingdom.

In 2019, PZ Cussons decided to sell the business and assets of Nutricima in line with its global strategy to streamline and focus its investments in personal care, beauty and home care products.

The Nutricima factory is located within the property of PZ Cussons Nigeria Plc in Ikorodu, Lagos State.

According to PZ Cussons Nigeria, the sale of this milk business will increase the retain earnings of PZ Cussons, create an avenue for the company to unlock value in its real property assets and ensure it derives maximum benefit inherent in the deal.

In a document sighted by Business Post, the board of PZ Cussons Nigeria said it considers the sale of Nutricima as a step in the right direction, urging the “shareholders to support the sale of the land assets as well as the transaction and vote in favour of the resolutions at the Extraordinary General Meeting of the company.”

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Economy

SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs

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capital market operators

By Aduragbemi Omiyale

The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.

Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.

This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.

The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.

In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.

“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.

“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.

“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.

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Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

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fidson

By Aduragbemi Omiyale

One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.

The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.

The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.

They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.

Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.

“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.

“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”

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Economy

FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure

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FG contractors protest

By Modupe Gbadeyanka

This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.

This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.

This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.

The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.

In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.

It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.

The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.

“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.

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