Shareholders of Nigeria’s leading diversified conglomerate, Transnational Corporation of Nigeria Plc, restated their strong confidence in the Board and management, at the Group’s 15th Annual General Meeting (AGM), which held 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 them. 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. The shareholders commended the resilience and dedication of the Board and management, despite the challenging global environment.
Speaking at the meeting, Mr Tony O. Elumelu, CON, Chairman of Transcorp, thanked shareholders for their continued support and promised that the Group will continue to execute its expansion, in line with its mission of “improving lives and transforming Nigeria”.
Mr Elumelu said “It was a difficult year, but we adapted, proved resilience and continued to invest – delivering the $300million Afam acquisitions in the middle of the pandemic illustrated our unwavering commitment to the Group’s success”.