Cement News tagged under: Ashaka Cement Plc
Ashaka Cement to start 16MW power plant15 February 2019, Published under Cement NewsAshaka Cement Co is set to inaugurate a 16MW power plant project in Nigeria. Managing Director of Ashaka Cement, Rabiu Abdullah Umar, said the power plant costs US$30.5m. "We are helping to remove ourselves from the demand for energy, and providing our own solution, which means a minimum of 16MW of electricity, will now become available to the public grid for the people in the region to enjoy from," said Mr Abdullah Umar. "The power plant, infrastructure, and cement capacity are all testam... |
Lafarge Africa buys out shareholders of Ashaka Cement24 November 2017, Published under Cement NewsLafarge Africa has bought out the minority shareholders of Ashaka Cement and issued 85.26m shares as part of a share exchange agreement, reports The Nation. The Nigerian cement manufacturer will now become a wholly-owned subsidiary of Lafarge Africa. The voluntary delisting of Ashaka Cement from the Nigerian stock exchange and its subsequent consolidation by Lafarge Africa, will offer shareholders a more diverse revenue stream. Lafarge Africa acquired a majority stake in Ashaka after ... |
Ashaka Cement approves Lafarge Africa's acquisition deal31 October 2017, Published under Cement NewsShareholders of Ashaka Cement Plc have approved the complete acquisition of the company by Lafarge Africa, in a deal with a cash consideration of NGN604.092m (US$16.8m) and total value of NGN5.97bn. The shareholders of Ashaka Cement agreed to allow Lafarge increase its stake in the company from 86.51 per cent to 99.99 per cent. However, the deal is subject to approval by the regulatory authorities, said Ashaka Cement. Meanwhile, Ashaka Cement Plc's energy strategy has helped it gr... |
Ashaka Cement confirms delisting from NSE06 July 2017, Published under Cement NewsAshaka Cement Plc has formally notified its shareholders and the general public of its delisting from the Nigerian Stock Exchange (NSE). In a statement issued on Tuesday signed by company secretary, Zainab Silas-Umaru, the firm said the delisting takes effect immediately. According to the statement “Application for the voluntary delisting of Ashaka Cement was approved on May 25, 2017 by the Quotation Committee of the National Council of the NSE. “The shareholders of Ashaka Cement Pl... |
Nigeria: Ashaka Cement to delist from NSE18 November 2016, Published under Cement NewsLafargeHolcim subsidiary Ashaka Cement has said that it will voluntarily delist its shares from the Nigerian Stock Exchange (NSE) after the freely-tradable proportion fell below the 20 per cent required by the bourse’s regulations, Vanguard News reports. At present, only around 15 per cent of Ashaka stock is tradable on the NSE. Ashaka made the offer to delist to head off the possibility of the NSE taking regulatory action against it. An extraordinary general meeting will be convened t... |
Nigeria: Ashaka building power plant12 May 2016, Published under Cement NewsManagement of Ashaka Cement Plc has concluded plans to build its own power plant due to concerns over an inadequate supply of electricity to power its operations. Alhaji Suleiman Yahyah, Ashaka Cement's chairman, has said that the project is expected to reach completion within three years and will contribute its excess power to the national grid. Mr Yahyah noted, “There will be diverse efficiency gains from 2016, for example, developments and operational initiatives, such as the use of l... |
Ashaka Cement pretax profit rises 84.5%01 April 2015, Published under Cement NewsNigeria's Ashaka Cement 2014 pretax profit rose 84.5 per cent to NGN5.25bn (US$26m) from year ago, the company said on Tuesday. Revenue declined by 2.58 per cent during the period to NGN21.13bn, the unit of Lafarge Africa said in a statement. |
Ashaka board recommends Lafarge buy-out offer to minority shareholders29 December 2014, Published under Cement NewsThe board of directors of Ashaka Cement has advised minority shareholders to accept the buy-out mandatory tender offer (MTO) by Lafarge Africa. Lafarge Africa has offered to buy out minority shareholders in Ashaka Cement following the merger of Lafarge's Nigerian and South Africa's businesses. Under the offer, Lafarge Africa is making an MTO to minority shareholders to buy 927 million shares, representing 41.39 per cent of the company. Shareholders who accept the offer will receive 57 ... |
Lafarge in Ashaka buy-out offer09 December 2014, Published under Cement NewsLafarge Africa has offered to buy out minority shareholders in Ashaka Cement Plc. The move follows the merger Lafarge Africa’s Nigerian and South Africa businesses, which received approval from shareholders in July. Lafarge Africa said on Monday that as part of the merger deal it had acquired a stake in Ashaka Cement of more than 30 per cent, the trigger point for making a full takeover bid under Nigeria's securities and takeover rules. Under the terms of the offer, shareholders who acc... |
Ashaka nine-month net profit up 3% YoY17 November 2014, Published under Cement NewsAshaka Cement Plc nine-month results for the period ended 30 September 2014 showed revenue growth of three per cent YoY to NGN17.3bn (US$100.9m) profit after tax rose 103 per cent YoY to NGN4.3bn. Nine months results for the period ended 30 September, 2014 showed revenue growth of three per cent YoY to NGN17.3bn profit after tax rose 103 per cent YoY to NGN4.3bn. On a quarterly basis, profit after tax was down 47 per cent QoQ to NGN847m due to a sharp fall in other income from NGN243m i... |