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Shareholders of Transnational Corporation of Nigeria Plc (Transcorp) have congratulated the Board and management for the resilient performance achieved in 2019, despite the challenging environment. They welcomed the diversified earnings provided by the Group, Nigeria’s leading listed conglomerate, the largest power generator in Nigeria, operator of sub-Saharan Africa’s largest hotel and a growing natural resources player.
Transcorp held its 14th Annual General Meeting (AGM) online, due to the COVID-19 pandemic. Shareholders participated in the meeting through proxies and a total of 129 proxies representing holders of 21,450,062,121 ordinary shares of the company voted on the resolutions proposed by the directors to the shareholders.
The President/Group CEO of Transcorp, Owen Omogiafo set out her strategic ambition, whilst also committing to safeguard shareholder interests by ensuring improved dividends. Mrs. Omogiafo who was recently appointed as the Group CEO with a team of subsidiary CEOs, stated that the new management team is dedicated to delivering and exceeding the strategic objectives of the Company, rooted in its founding vision and expressed in its corporate purpose of ‘Improving Lives, Transforming Nigeria’. She went on to say “in Hospitality, we will deepen and expand our market share by deploying an asset light strategy, leveraging best in class technology and continuously drive the highest service standards.
