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12/06/2014 News

TOTAL NIGERIA PLC 36TH ANNUAL GENERAL MEETING

Total Nigeria Plc held its 36th Annual General Meeting (AGM) on June 13, 2014 at Shell Hall, Muson Center, Lagos. In recognition of the company’s compliance with all regulatory requirements, the meeting was well attended by representatives of the Nigerian Stock Exchange, Securities and Exchange Commission, and Corporate Affairs Commission. Also in attendance were distinguished shareholders, financial analysts, pressmen, top management and staff. Prior to this event, the company treated its shareholders to a cocktail at Pearl Gardens in Victoria Island, Lagos on June 12, 2014.

2014 AGM

 

The Annual report, which was presented to the shareholders at the AGM, showed an increase in turnover from N217.8 billion in 2012 to N238.2 billion in 2013 with the market share rising from 11.4% to 11.7%. Also, its profit after tax increased from N4.7 billion in 2012 to N5.3 billion in 2013 (14% higher than the previous year). Given the improvement in profitability, shareholders approved an additional dividend of N3.1 billion which translates to 900 kobo per share for 2013 financial year. With an interim dividend of N679 million, which was earlier distributed by the company, the total dividend paid was N11.

2014 AGM

The Chairman, Momar Nguer, credited this success to the high level of commitment of the Board and Management to delivering value on shareholders’ investments. During a press conference organised immediately after the AGM, Mr. Nguer advocated for a periodic review of the price margins by the regulating authorities to cater for inflation and rising costs. He also called for improved transparency in product allocation to pave way for healthy competition in the industry and ensure consistent energy supply in the country. As a closing remark, he reaffirmed Total Nigeria Plc’s strong commitment to safety, environmental sustainability, innovation and premium customer service.

2014 AGM
Mr. Momar Nguer (Senior Vice President of Total Marketingand Services, President Africa and Middle East, and Chairman of Total Nigeria Plc), Audit Committee Membersand Mrs. Olubunmi Popoola-Mordi (Company Secretary)at the Annual General Meeting
2014 AGM
L-R: Mr. Momar Nguer (Senior Vice President of Total Marketing and Services, President Africa and Middle East, and Chairman of Total Nigeria Plc), Mr. Mathieu Soulas (Vice president, Africa & Middle-East (Marketing & Services and Total Nigeria Plc Director ) Mr. Alexis Vovk (Managing Director Total Nigeria Plc) at the Pre-AGM Cocktail.
2014 AGM
Cross-section of Board of Directors, Top management and the Company Secretary/Legal Affairs Manager at the Pre- AGM Cocktail