Tag: Total Nigeria Plc

French energy giant, Total SE, has successfully completed various regulatory processes required to effect the change of its name to TotalEnergies Marketing Nigeria Plc.

According to a statement signed by the company’s secretary, Bunmi Popoola-Mordi, the firm noted that it should be henceforth addressed as TotalEnergies Marketing Nigeria Plc.

Recall that on the 19th of August, 2021, shareholders of the company (then known as Total Nigeria Plc) voted to change its name to TotalEnergies Marketing Nigeria Plc. The change was driven by the firm’s desire to transition into a multi-energy group, providing affordable, more reliable and cleaner energy in the best way. In addition, the transition is in a bid to support the Paris Agreement and vomiting to carbon neutrality by 2050.

Commenting on the rationale behind the change, the firm said: ‘’ The name change is accompanied by a new visual identity for all of our activities, aimed at anchoring our transformation to a multi-energy group, such transformation being based on a development strategy of two pillars, gas and renewable electricity, as well as the underlying ambition of a transition to carbon neutrality by 2050.’’

As at the period of reporting this, TotalEnergies Marketing Nigeria Plc is currently trading at N199.20 per share on the floor of the Nigerian Exchange Limited (NGX).

Total Nigeria Plc has announced the appointment of Dr Samba Seye as its new Managing Director, with effect from September 1, 2021.

The announcement is contained in a recent press release signed by the company’s secretary, Bunmi Popoola-Mordi and filed with the Nigerian Exchange Limited (NGX).

Dr Seye was appointed to replace the outgoing Managing Director- Mr Imrane Barry, who has been reassigned to TotalEnergies SE headquarters in Paris, France.

About Dr. Samba Seye

Dr. Seye is a thorough-bred professional with experience across several countries. Until his recent appointment, he has been a member of TotalEnergies SE Ethics Committee since 2019. He joined the Total Marketing and Services in 2014 as a Project Manager in the Strategy Department, and has since rose through the ranks to occupy various leadership positions in the company, including; The Deputy Executive Vice President, West Africa(2015), Vice President Specialties/General Trade Total MS /Africa (2016) and Executive Vice President West Africa, Total MS /Africa (2017).

Dr. Seye holds a Doctorate Degree in Engineering from the University of Sciences and Techniques of Lille, France, where he worked as an assistant lecturer from 1990 until 1993.

Total Nigeria Plc closed trading today 31st of August, 2021 with a share price of N199.20

The shareholders of Total Nigeria Limited have approved the formal change in the name of the company to TotalEnergies Marketing Nigeria Plc.

According to a statement issued on the website of the Nigerian Exchange Limited, the formal change was part of the resolutions reached at the recently concluded Extra Ordinary General Meeting of the company held on Thursday (yesterday) in Lagos.

Consequently, the shareholders elected to change the memorandum and articles of association to reflect the company’s new name. Additionally, the shareholders charged the Board of the company to implement all necessary steps required to effect a change of the name of the company.

Speaking on the name and logo change, the Managing Director of TotalEnergies Plc., Mr Imrane Barry said the company is committed to be at the forefront of the energy landscape in Nigeria. He said the new name and logo documents the company’s historic journey from inception to the point it is now.

TotalEnergies has been actively involved in the oil and gas business in Nigeria for over 60 years. The firm is renowned for the production, transportation, trading and distribution of responsible energies to the end customer.

Total Nigeria Plc (now known as TotalEnergies Plc) closed trading for the week ended 20th of August, 2021 with a share price of N199.20.

The Board of Directors of Total Nigeria Plc in a recent meeting held on the 19th of July 2021, has declared an interim dividend of N4.00 per ordinary share of 50 kobo for the period ended June 30, 2021.

According to a notice signed by the company’s secretary, Bunmi Popoola-Mordi and filed with the Nigerian Exchange Group Limited (NGX), the dividend will be paid on the 13th of September, 2021, to all qualified shareholders whose names appear on the Register of Members as at 13th of August, 2021. Other qualifying conditions include;

• The completion of the e-dividend registration
• The authorization of the Registrar (CardinalStone Registrars Limited) to pay the dividends directly into the respective shareholder’s bank account.

In light of the above, the Register of Shareholders will be closed from Monday, August 16, 2021 to Friday, August 20, 2021. Similarly, the energy giants scheduled its qualification date for August 13, 2021.

Compared to last year, the recent dividend declaration is a major boost to shareholders and an indication that the firm has returned back to the profit path. Recall that in comparable period of last year, the firm did not declare any interim dividend due to its unfavourable financial standing as at that time.

Drivers: 

Total Nigeria Plc reported an impressive result in the 2021 half-year period. The firm’s revenue in the aforementioned period stood at N151.3 billion as against N106.7 billion recorded in corresponding period of 2020, indicating an increase of about 42% Year-on-Year.

Similarly, the firm reported a profit after tax of N8.07 billion in June 2021 as against a loss of N537.19 million incurred in June 2020, indicating a surge of about 1,601% Year-on-Year. Other key financial metrics such as Earnings per Share, Dividend per Share, etc., all recorded a massive boost.

What you should know: 

• A dividend is a payment made by a company to its shareholders, usually as a distribution of profits. When a company earns a profit or surplus, it reinvests a portion of the profit in the business (retained earnings) whilst paying a portion as dividends to the shareholders.
• The distribution to shareholders may either be in cash (usually a deposit into their bank accounts) or in issuance of further shares.
• Total Nigeria Plc is expected to pay the interim dividend of N4.00 on all the outstanding 339,521,837 ordinary shares of the company.

As at the time of reporting this, Total Nigeria Plc shares trade N184.8/unit on the floor of The Exchange, up by 10%.

The Board of Total Nigeria Plc has announced that it will be hosting its 43rd Annual General Meeting on the 17th of June, 2021.

This is according to a notification signed by the company’s secretary, Olubunmi Popoola-Mordi, and seen by Nairametrics. Sequel to this, the following issues will be discussed;

• The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
• The firm’s proposed dividend will be considered and approved. It is worthy to note that If ratified, the dividend will become payable on 18th of June, 2021.
• Board appointments will also be considered and ratified.
• To fix remuneration of managers and Directors in FY 2021.
• To elect shareholders’ representatives of the statutory audit committee.

What you should know:

• Total Nigeria Plc had earlier reported a profit after tax of N2.24 billion in FY 2020.
• In line with CAC guidelines, attendance at the AGM will be by proxy.
• The link for the Annual General Meeting will be made available on the company’s website: http://www.total.com.ng/

For more information about the AGM, click HERE.