Lagos, Nigeria; September 06, 2021.
Flour Mills of Nigeria Plc (referred to as “Flour Mills “or “FMN”), Nigeria’s leading integrated foods and agro-allied Group, owners of the iconic food brand – ‘Golden Penny,’ is set to hold its 61st Annual General Meeting at the Grand Ballroom, Eko hotel & suites, Victoria Island, Lagos, on the 8th of September 2021.
The company will conduct its ordinary and special businesses, including passing the respective resolutions thereto, at the meeting. The Meeting shall also afford shareholders the opportunity to ask questions in respect of the Audited Financial Statements and the report of the Directors. The Company shall be proposing a final dividend of N6.8 billion or N1.65 per ordinary share of 50k to its shareholders for approval.
This year's Annual General Meeting, themed “Enriching Lives, Empowering Communities,” will highlight the Group's remarkable achievements in the 2020/21 financial year despite difficulties faced by businesses as a result of the global pandemic. The Group saw significant growths as a result of its consumer-focused product innovation, accretive strategic relationship across all its business value chains and increased investments in backward integration further to its continued commitment to increasing local content in the agro-allied sector.
Omoboyede Olusanya, the Group Managing Director commented:
“We are optimistic that the business environment will continue to improve as we further sharpen our Route to Consumer Business Focus. We believe that putting our consumers at the heart of the business enables us to optimize value for our shareholders and create long term positive impact for all stakeholders.
I want to take this opportunity to express my gratitude to the communities in which we operate as well as our business partners for their dedication in supporting our growth. Finally, I wish to thank our shareholders, for their continued support, trust and confidence in our capabilities as we stay committed to improving our operational excellence.”
Due to the risk of the spread of COVID-19 and the restriction on mass gatherings in accordance with the Guidelines issued by the Corporate Affairs Commission on holding AGMs using proxies, attendance at the AGM shall only be by proxy. The proceeding of the AGM will nonetheless be transmitted live via the following Channels: www.fmnplc.com; and on YouTube www.youtube.com/fmngroup.
Press Enquiries: Modupe Thani / Samuel Iboroma
Phone: 0908 747 4588
ABOUT FLOUR MILLS OF NIGERIA Plc
Flour Mills of Nigeria Plc was incorporated in September 1960 as a private limited liability company and commenced operations in 1962 with an installed flour milling capacity of 500 metric tonnes per day. In 1978, Flour Mills of Nigeria was converted to a public limited liability company and its shares were subsequently listed on The Nigerian Stock Exchange today.
Flour Mills of Nigeria is the largest flour milling company in Nigeria, with an installed flour milling capacity of approximately 12,000 metric tonnes per day. The Company continuously strives in its purpose to “Feed the Nation, Everyday” through its five core food value chains: Grains, Sweeteners, Oils and Fats, Proteins and Starches. The Company is increasing local content in a substantive and sustainable way with its “farm- to-table” model in order to further mitigate reliance on imports and exposure to external volatility in the food business.
Flour Mills of Nigeria remains Nigeria’s largest and oldest food and agro allied company, with a broad product portfolio and a robust pan-Nigerian distribution network. The Company’s three major business segments are constantly evolving to meet the diverse needs of all stakeholders.
Lagos, Nigeria; September 06, 2021.