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Dangote Cement reports its financial results using XBRL format with the IFRS taxonomy

Issued: July 15, 2021
Lagos, Nigeria

Dangote Cement reports its financial results using XBRL format with the IFRS taxonomy

Dangote Cement Plc (DANGCEM-NL), Africa’s largest cement producer, announces that its financial information has been made available to investors in eXtensible Business Reporting Language (XBRL) format using the IFRS taxonomy.

XBRL enables companies standardise the preparation, publishing, and exchange of financial information in a machine readable format. It is mainly used by publicly listed companies which are required to use it by law, such as companies listed in the USA, Europe and South Africa.

Dangote Cement becomes the first Nigerian listed company to report its financial results using IFRS taxonomy. Data contained in the Q3 2020, Full Year 2020 and Q1 2021 financial statements are now available in XBRL format.

Commenting on the execution of XBRL, Michel Puchercos, Chief Executive Officer of Dangote Cement, said:

“We believe that adopting XBRL reporting will strongly benefit Dangote Cement’s existing and potential investors. It represents another step in Dangote Cement’s continuing efforts to modernise and enhance transparency of, and access to, companies’ disclosures.

It will enable our publicly available financial information to be captured accurately and promptly, thus bringing uniformity of our results on all the platforms and ensuring that investors and analysts who use these platforms have the correct information. Although XBRL reporting is not mandatory for companies listed on the Nigerian Exchange, it is becoming a universal format to exchange financial data and promotes the coordination of international reporting requirements.

The implementation of XBRL demonstrates Dangote Cement’s strong dedication to reaching international reporting and corporate governance standards. As Africa’s leading cement producer, we are leading the way with our commitment to sustainability and best practice.  We are driven by the goal of achieving the highest level of governance and building a prosperous and sustainable brand for all our stakeholders.  Transparency and consistency are at the core of every part of our business culture.”

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PRESS RELEASE

Share Buy-back programme renewal approved by the Securities and Exchange Commission

Issued: July 9, 2021
Lagos, Nigeria

Share Buy-back programme renewal approved by the Securities and Exchange Commission

Dangote Cement PLC (DANGCEM-NL), Africa’s largest cement producer, announces that the Securities and Exchange Commission has approved the renewal of its share buy-back programme until January 21 2022.

The share buy-back programme will be executed under the approval granted by the Company’s shareholders at the Annual General Meeting of Dangote Cement PLC which was held on 26 May 2021, within the framework provided under Rule 398 (3)(xiv) of the Securities and Exchange Commission’s Rules and Regulations and under the approval of the Nigerian Exchange.

The share buy-back will be undertaken through an open market offer or self-tender, at such times and on such terms as the management of the Company may determine, subject to prevailing market conditions. The Company will continue to monitor the evolving business environment and market conditions, in making decisions on tranches of the share buy-back programme.

Signed:

Edward Imoedemhe
Deputy Company Secretary

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PRESS RELEASE

Issuance of N50 billion Series 1 Fixed Rate Senior Unsecured Bonds Under the New NGN300 billion Multi-Instrument Issuance Programme

Issued: June 16, 2021
Lagos, Nigeria

Issuance of 50 billion Series 1 Fixed Rate Senior Unsecured Bonds Under the New NGN300 billion Multi-Instrument Issuance Programme

Dangote Cement Plc (DANGCEM-NL), Africa’s largest cement producer, announces the successful issuance of 50 billion Series 1 Fixed Rate Senior Unsecured Bonds under the company’s new NGN300 billion Multi-Instrument Issuance Programme. The bonds were issued on May 26 2021 at coupon rates of 11.25%, 12.50% and 13.50% for the 3, 5 and 7-year tranches respectively.

Despite market headwinds, the bond issuance was well received and recorded participation from a wide range of investors including domestic pension funds, asset managers, insurance companies and high net-worth investors. The proceeds of the bond issuance will be deployed for the company’s expansion projects, short-term debt refinancing and working capital requirements.

Aside from this first issuance of a traditional bond under the new Multi-Instruments Programme, Dangote Cement has registered a programme enabling it to consider different types of fixed income instruments to cater for different type of investors. The ability to issue Green Bonds and Sukuk will enable the company leverage the depth and breadth of the Nigerian market.

Commenting on the bond issuance, Michel Puchercos, Chief Executive Officer of Dangote Cement Plc. stated:

“This bond issuance allows us move a step further in achieving our expansion objectives and will be deployed to projects instrumental in supporting our export strategy while improving our cost competitiveness. We thank the investor community for their continued support in the management of Dangote Cement and their successful participation in the bond issuance.”

Absa Capital Markets Nigeria acted as Lead Issuing House for the Series 1 Bonds, and Stanbic IBTC Capital, Standard Chartered Capital & Advisory Nigeria Limited, United Capital Plc, FBN Quest Merchant Bank, FCMB Capital Markets, Coronation Merchant Bank, Ecobank Development Corporation Nigeria, Futureview Financial Services, Meristem Capital Limited, Rand Merchant Bank, Quantum Zenith Capital and Vetiva Capital Management acted as Joint Issuing Houses. The Bonds will be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange.

Signed:

Edward Imoedemhe
Deputy Company Secretary

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Dangote Cement Plc Contemplates Debt Funding Options Under Planned ₦300Billion Bond Issuance Programme

Issued: March 25, 2021
Lagos, Nigeria

Dangote Cement Plc Contemplates Debt Funding Options Under Planned ₦300Billion Bond Issuance Programme

Dangote Cement Plc. (“the Company”) has obtained approval from its Board of Directors to access the Capital Market to support business growth and maximize available sources of its debt funding.

Dangote Cement Plc. is Nigeria’s largest listed entity by market capitalization on the Nigerian Stock Exchange, as well as Sub-Saharan Africa’s leading cement producer, with a combined installed capacity of 48.6Mta across its operations in 10 African countries.

The Company has submitted an application to the Securities and Exchange Commission (SEC) for the registration of a bond issuance programme.

Subsequent to obtaining regulatory approvals, the Company intends to explore its medium to long-term debt funding options through the debt capital market, subject to favorable market conditions. When raised, the proposed funding will be used for capital expenditure of the Company’s expansion projects, short term debt refinancing, and working capital requirements.

Signed:

Edward Imoedemhe
Deputy Company Secretary

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