Transnational Corporation Plc (Transcorp), a leading Nigerian conglomerate, has announced the successful completion of its share reconstruction, a strategic action aimed at maximizing long-term shareholder value.
The share reconstruction involved consolidating the total number of issued shares at a ratio of 1 to 4, reducing the total issued and fully paid shares of Transcorp from 40.6 billion shares to 10.2 billion shares. While the number of shares has decreased proportionally, the total value of shareholders' investments remains unchanged, ensuring no dilutive impact to shareholders.
Owen D. Omogiafo, OON, President and Group CEO of Transcorp, stated that this strategic action aligns with the company's commitment to enhancing shareholder value. The reconstruction is expected to bring the capital structure to a more manageable position, facilitating future growth and value creation.
Transcorp remains dedicated to driving growth and creating value for its shareholders through strategic actions that align with its business objectives.
