Honeywell Flour Mills Plc (Nigeria) – Notification of mandatory takeover offer by Flour Mills of Nigeria

By Published On: August 1st, 2022Categories: Corporate announcement

Honeywell Flour Mills Plc (“Honeywell” or “the Company”) announces to Nigerian Exchange Limited that Flour Mills of Nigeria Pic {”Flour Mills”) has notified the Company of a Mandatory Takeover Offer (“MTO”) that will be made to shareholders of Honeywell by Ecowise Horizon Investment Limited and Greywise Investment Solution Limited.

The Mandatory Takeover Offer – for 79,301,976 Ordinary Shares of 50 kobo each in the Company – represents 1% of the total shareholding of Honeywell Flour Mills Pic. FMN has also received the Securities & Exchange Commission’s approval to launch the MTO.

Ecowise Horizon Investment Limited and Greywise Investment Solution Limited own an aggregate of 6,086,381,572 Ordinary Shares of 50 kobo each, representing 76.75% of the total issued and paid-up capital of Honeywell Flour Mills Plc.

The Qualification Date for the MTO is 5:00pm on Thursday August 5, 2022; being the settlement date for all trades that are executed on Friday July 29, 2022.

Osomomen L. Olukoya

Company Secretary


Honeywell Flour Mills Plc (HONYFL.ng)

Share price: 2.67 NGN (0.04 | 1.52% – 11/08/22)

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