Pursuant to the general meetings of the boards of Unilever Plc and Unilever N.V. by their respective boards of April, Unilever has revealed that it will engage in its shares buy-back worth EUR5billion.
According to information, the shares buy-back programme will take place within the limits of the authority granted to the Boards of each of the companies.
The company said the Shares buy-back will be conducted in both Unilever PLC and Unilever N.V. ordinary shares.
Under the terms of the programme, between EUR1.5 billion and EUR2.5 billion will be bought back on the London Stock Exchange in the form of Unilever PLC ordinary shares, and the balance of the aggregate €5 billion will be bought back on Euronext in Amsterdam in the form of Unilever N.V. ordinary shares (or depositary receipts in respect of such ordinary shares).
The maximum number of shares to be bought back by Unilever PLC is 128,345,000 and the maximum number of shares (or depositary receipts thereof) expected from the buy-back by Unilever N.V. is 223,024,384.
According to informed sources, the purpose of the buy-back programme is to reduce the capital of both multinational operations whose businesses and brands spread across the better of the globe.
In Nigeria the company known as Unilever Nigeria Plc, was incorporated as Lever Brothers (West Africa) Ltd on 11th April, 1923 by Lord Leverhulme. It antecedents however have to be traced back to Britain’s existing trading interests in Nigeria and West Africa generally, and to the fact that Leverhulme had since the 19th century been greatly involved with the soap business in Britain.
Unilever Nigeria Plc started as a soap manufacturing company, and is today one of the oldest surviving manufacturing organizations in Nigeria.
Quoted on the Nigerian stock exchange, It’s array of product brands manufactured and markets in the country cut across consumer products – primarily in the home; personal care and foods categories. These include Omo washing powder, Key soap, Royco bouillon, Lipton tea, Blue Band margarine, Pears baby care goods, Vaseline petroleum jelly, Luxsoap, and Close Up toothpaste. Most of these products are market leaders in their different product categories.