Mr. Owen Omogiafo, the President of our group, made this announcement in an official statement released on Monday.
He explained that this strategic initiative aims to enhance long-term shareholder value while keeping the overall value of shareholders’ investments intact.
The reconstruction process involved consolidating shares at a 1 to 4 ratio, thereby optimizing the company’s capital structure.
“This share reconstruction aligns with the Company’s corporate strategy and growth objectives, focusing on maximizing shareholder value,” Omogiafo stated.
He further mentioned that this action will “position the company’s capital structure in a more manageable state.”
Omogiafo highlighted that Transcorp’s efforts demonstrate its dedication to boosting shareholder value through strategic initiatives that are in line with its business goals.
He reiterated that “Transcorp Plc is committed to fostering growth and generating value for its shareholders.”
Additionally, he noted that Transcorp Power Plc and Transafam Power Limited account for over 20 percent of Nigeria’s total installed power capacity.
He emphasized that the Group’s investment strategy focuses on developing Nigeria’s domestic energy value chain and expanding its renewable energy projects.
With the successful completion of this share reconstruction, Transcorp aims to prepare for future growth while ensuring that current shareholders maintain their value in the company.