Honeywell Says Flour Mills Planning Mandatory Takeover Offer For 79.3m Shares

Honeywell Flour Mills, on Friday said it received notice of a Mandatory Takeover Offer (MTO) for 79,301,976 ordinary shares in the company that will be made to its shareholders by Ecowise Horizon Investment Limited and Greywise Investment Solution Limited.

The offer, the company explained in a notice to the Nigerian Exchange Limited, represents 1% of the total shareholding of Honeywell flour Mills, for which it has received the approval of the Securities & Exchange Commission (SEC) to launch the MTO.

Both core investors already own a total of 6,086,381,572 units, representing 76.15% of the issued and paid up capital of Honeywell Flour Mills

August 5, 2022, at 5.00pm has been set as the qualification date for the MTO; being the settlement date for all trades that are executed on Friday, July 29.