TY Holdings Limited announced to the investing public on Tuesday that it now owns a 72 percent stake in BOC Gases Nigeria Plc.
TY Holdings, owned by a retired army general, Mr Theophilus Yakubu Danjuma, recently acquired a further 60 per cent of the organisation’s stock, for 249,746,823 units from BOC Holdings UK. The company previously owned a 12 percent stake in BOC Gases, but has now become the largest shareholder after the lump-sum takeover.
The announcement was made by the Company Secretary, BOC Gases Nigeria, Ms Ronke Segun-Alabi, in a statement issued on Nigerian Exchange Limited (NGX).
“This change of ownership of BOC Gases Nigeria Plc is effective today, August 13, 2021. BOC Gases Nigeria Plc assures its valued shareholders and the public that the company will ensure that it will maintain the reputation and reputation it has built over the years. past 62 years,” the statement read.
The company reported in its unaudited financial statements for the first half of the year (H1) an increase in pre-tax profit of 25.5 percent to N244.15 million from N194.6 million in the half-year ended June 30, 2020.
Profit after tax also increased 27.3 percent to N168.44 million in H1 2021 from N132.3 million reported in H1 2020.
The impressive profit growth was driven by a nearly 20 percent increase in revenue to N1.77 billion in H1 2021.
The company’s shareholders approved a dividend of 50 kobo per share for fiscal year 2020 earnings in June.