Shareholders of Flour Mills Nigeria Plc have approved a resolution pertaining to the restructuring outlined in the scheme document dated March 22, 2024.
In the court-ordered meeting on Thursday in Lagos, it was resolved that, upon the effective implementation of the arrangement detailed in the scheme document, the Bagco division will no longer operate as part of Flour Mills.
Instead, the business will transition to be operated as Bagco Industrial Solutions Limited, in strict adherence to the terms stipulated in the scheme document and in compliance with the court order.