Dangote Flour changes name to Tiger Branded Consumer Goods

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Company secretary and legal adviser of Dangote Flour Plc, Aisha Ladi Isa
has notified the Management of the Nigerian Stock Exchange (NSE), of the
company’s change of name to Tiger Branded Consumer Goods Plc.

The new name is to better reflect the new ownership of the company as the
change in the substantial ownership and shareholding of the company has
been approved by the shareholders.

In a letter dated September 2nd, 2015, the company’s secretary said the
change of name was in line with the special resolution passed at its
annual general meeting (AGM), held in July 2015. She therefore requested
the Exchange to effect the change of name as well as use the new symbol of
Tiger Branded Consumer Goods. The new name has been approved by the
Corporate Affairs Commission.

Tiger Brands, it would be recalled acquired a 63.35 per cent shareholding
interest in Dangote Flour Mills in Nigeria in 2012 for approximately
R1.5billion.

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Peter Matlare, CEO of Tiger Brands had then said: “We are especially
pleased with the successful conclusion of this transaction. We believe it
will present growth opportunities for both organisations and be mutually
beneficial.  Dangote Flour Mills will add significant scale to Tiger
Brands’ existing Nigerian businesses.”

The company for the third quarter ended June 30, 2015 recorded an increase
in its Group’s revenue from N28.7 billion in the corresponding period of
2014 to N33.1 billion. Its gross profit also to N2.6 billion as against
N1.75 billion it recorded in the corresponding period of 2014.