TOTAL NIGERIA PLC’S 38TH ANNUAL GENERAL MEETING

38th AGM

Total Nigeria Plc held its 38th Annual General Meeting (AGM) on June 10, 2016 at Civic Center, Victoria Island, 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. In conjunction with its health care provider, Medexia Nigeria Limited, the company treated its shareholders to a routine health check at the venue prior to the commencement of the AGM.

The Annual report, which was presented to the shareholders at the AGM, showed a decrease in turnover from N240.6 billion in 2014 to N208 billion in 2015. While, its profit after tax reduced by 23.5% from N4.05 billion in 2014 to N5.3 billion in 2015. The company’s performance and operating results were affected by the challenging and difficult business environment in year 2015.

Shareholders approved an additional dividend of N4.07 billion which translates to N12 per share for 2015 financial year. With an interim dividend of N679 million, which was earlier distributed by the company, the total dividend paid was N14. 

A major highlight of the event was the formal introduction of the new Chairman of the company, Mr. Stanislas Mittelman, who was warmly welcomed by the shareholders and members of the Board of Directors. Mr. Stanislas Mittelman took over from Mr. Momar Nguer who has been appointed President, Marketing & Services Total Group and member of the Executive Committee of Total Group.