UPDATED: CCNN Plc and Kalambaina Cement gets SEC approval

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Following Cement Company of Northern Nigeria Plc’s (“CCNN”) announcement on 12 October 2018
regarding its proposed merger with Kalambaina Cement Company Limited (“Kalambaina Cement”) – a
wholly-owned subsidiary of BUA Cement Limited –, and having received the approvals of the shareholders of
CCNN and Kalambaina Cement at their respective court-ordered meetings on November 29, 2018, CCNN is
pleased to announce that it has received the approval of the Securities and Exchange Commission as well as
the requisite sanction of the Federal High Court of Nigeria for the merger.

Accordingly, the scheme of merger is effective as of December 24, 2018
Pursuant to the merger becoming effective, new CCNN shares have been issued and allocated to all
shareholders of Kalambaina Cement in exchange for their Kalambaina shares at the agreed ratio as disclosed
in the Scheme document and approved by CCNN and Kalambaina Cement shareholders.

Background Information
CCNN Plc is a public limited liability company incorporated in 1962 and listed on The Nigerian Stock Exchange
in 1993. CCNN is the only cement plant in the North Western part of Nigeria, operating a 500,000 metric tonnes
per annum cement plant commissioned in 1985.

Kalambaina Cement is a private limited liability company incorporated in Nigeria. The company is a wholly
owned subsidiary of BUA Cement Limited and is primarily engaged in the business of quarrying, extracting,
processing and dealing in limestone as well as the manufacture and supply of’cement.
Kalambaina Cement
Company Limited’s key cement assets include the brand new 1.5 million metric tonnes per annum cement
production plant situated in Kalambaina, Sokoto State.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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