NOTICE OF ANNUAL GENERAL MEETING
Lagos, 3 June 2019
NOTICE IS HEREBY GIVEN that the 5th Annual General Meeting of Notore Chemical Industries Plc. (the “Company”), will be held at the Staff Canteen, Notore Industrial Complex, Onne, Rivers State on Tuesday 25th June, 2019, at 1.00 pm prompt, to transact the following business:
Presented below is the financial summary of Notore Chemical Industries Plc (“Notore”) Six Month Ended 31st March 2019 Unaudited Financial Statements.
Notore recorded revenue of ₦12.68billion for the Six-Month Period Ended 31st March 2019, compared to ₦15.17billion for the corresponding period in H1 2018 FY resulting in a 16.03% y-o-y decline. The decline was mainly due to plant downtime during the period under review. The Turn-around maintenance (“TAM”) program activities are expected to be completed by Q1 2020, after which the plant will operate at its nameplate capacity. Notore’s cost of sales margin variation over the two periods, H1 2019 and H1 2018 FY was minimal at 80bps increase, because natural gas, which constitutes 90% of the input cost, excluding plant depreciation, has a fixed unit price under a 20-year gas contract.
Lagos, 29th April 2019 - Notore Chemical Industries Plc (‘Notore’), a vertically integrated agro-allied and chemicals business, will release its unaudited results for the half year ended 31 March 2019 on Tuesday 30 April 2019.
On the 2nd of May 2019, the Group Chief Executive Officer, Mr. Onajite Okoloko, the Group Deputy Managing Director/Chief Financial Officer, Mr. Ohis Ohiwerei and the Group Head, Finance & Administration, Mr. Bola Tolujo, will host a conference call for investors and analysts at 14:00 (Lagos) / 14:00 (London) / 9:00 (New York) /15:00 (Johannesburg) to discuss the Group’s business performance during the period.
The results announcement and investor presentation will be available on the investor relations section of the Notore Chemical Industries Plc website at: www.notore.com/investor-relations
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