Share
SHAREHOLDERS of Transnational Corporation of Nigeria Plc (“Transcorp”), showed their strong confidence in the board and management at the Group’s 15th Annual General Meeting (AGM), which took place at the Transcorp Hilton, Abuja.
The shareholders commended the company for declaring dividends, noting that despite the negative impact of the Covid-19 pandemic on the Group’s hospitality subsidiary, Transcorp remained committed to rewarding shareholders.
They were impressed by the significant advances in the Group’s integrated energy strategy, with the acquisition of Afam Power Plant Plc and Afam III Fast Power Ltd, delivering on the Group’s promise to power Nigeria and change lives.
Transcorp Adds 2000MW to Nigeriaâs National Electric Grid; Launches Transformative Hospitality Products, Advances Integrated Energy Strategy
§ Transcorp stock held by over 300,000 shareholders demonstrates leadership, resilience and commitment to Nigerian economy
Shareholders of Nigeria’s leading diversified conglomerate, Transnational Corporation of Nigeria Plc (“Transcorp”), showed their strong confidence in the Board and management, at the Groupâs 15th Annual General Meeting (AGM), which took place this week at the Transcorp Hilton Abuja.
The shareholders commended the company for declaring dividends, noting that despite the negative impact of the Covid-19 pandemic on the Groupâs hospitality subsidiary, Transcorp remained committed to rewarding shareholders. They were impressed by the significant advances in the Groupâs integrated energy strategy, with the acquisition of Afam Power Plant Plc and Afam III Fast Power Ltd, delivering on the Groupâ
•Gas shortage cripples operations of power plants in South-west
Emmanuel Addeh in Abuja
The federal government yesterday attributed the delay in executing the $5.8 billion Mambilla hydroelectric power project, expected to add 3,050 MW to the nation’s electricity output, to court cases being pursued by its former contractor.
Minister of Power, Mr. Sale Mamman, however, said in a statement issued in Abuja that the government was finalising settlement terms leading to an amicable arbitration, so that the project could take off.
Also yesterday, the Managing Director of the Niger Delta Power Holding Company (NDPHC), Mr. Chiedu Ugbo, stated that the gas shortage had crippled the operations of all power plants in the South-west.
Transcorp makes new appointments guardian.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guardian.ng Daily Mail and Mail on Sunday newspapers.
By James Emejo
The Chairman, Transnational Corporation of Nigeria (Transcorp) Plc, Mr. Tony Elumelu, yesterday explained the company’s decision to commit over $120 million to the rehabilitation of Transcorp Hotels, saying it was meant to lay an investment, “foundation for a better tomorrow.”
He said shareholders had invested wisely in the project, adding that, “your investment will yield huge dividends.”
Speaking at the 15th Annual General Meeting (AGM) of the company in Abuja, he noted that it was the first time the level of rehabilitation was being undertaken in the hotel since its existence about 30 years ago.
He said: “We did this because we are long term investors. We believe in investing today for better tomorrow.