Side view of Unilever Ghana’s office
UNILEVER GHANA Plc has announced that Unilever Overseas Holdings Limited has on the December 11, 2020 acquired 7.94% of the issued shares in UNIL.
The Free of Payment (FoP) transaction was executed in Ghana and involved the purchase of 4,962,500 ordinary shares in UNIL, which is listed on the Ghana Stock Exchange (GSE).
The shares were previously held by Hongkong Shanghai Arisaig Africa Consumer Fund. This acquisition takes Unilever’s current shareholding in UNIL to 74.50%.
The company announced its change of name from Unilever Ghana Limited to Unilever Ghana PLC effective July 24, 2020.
The name change was pursuant to provisions of the Ghana Companies Act, 2019 (Act 992) which required that all public companies limited by shares must have “Public Limited Company” or the abbreviation “PLC” as the suffix to their registered name.
According to Unilever’s unaudited financial statements for the nine months, ending September 2020, revenue for the period was GH¢319.8 million compared to GH¢342.8 million in the third quarter of 2019. Even though there was a decline compared to the corresponding period, turnover achieved was in line with management’s expectations for the period. The decline in turnover versus the same period last year was attributed mainly to the impact of lock downs and restrictions as a result of the Covid-19 pandemic.
Operating loss for the third quarter was GH¢12.8 million, a significant improvement compared with GH¢48.8 million recorded for the same period of 2019.
George Owusu-Ansah is the Managing Director of Unilever Ghana Plc. His appointment took effect from January 1, this year.
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