
Shareholders Endorse CCNN, Obu Cement Merger
Shareholders have endorsed the merger bid of Cement Company of Northern Nigeria (CCNN) and Obu Cement Plc, a union that is designed to create greater economies of scale and enhanced operating and administrative efficiencies.
The shareholders’ approval, which took place in Abuja at a court-ordered general meeting, witnessed 157 out of the 170 accredited shareholders voting in favour of the resolution for a merger.
The CCNN Chairman, Alhaji Abdulsamad Rabiu, who presided over the meeting said: “The total number of shares held by shareholders present and who voted was …