Industrial and Medical Gases (IMG) Nigeria Plc’s shareholders have commended the board and management for the company’s outstanding performance in the financial year ended December 31, 2024.
The shareholders’ appreciation was expressed at the company’s 65th Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) held in Lagos. just as they pleadge to support the company capital raising plan, urging existing and prospective investors to participate.
The shareholders approved a dividend of 80 kobo per 50 kobo ordinary share, totaling N399.60 million, and a bonus share of 1 share for every 10 shares. The payment date is Wednesday, June 25, 2025.
According to Mr. Aminu Ado, Chairman of the Board, “This reflects our confidence in the company’s future and our commitment to delivering sustainable returns even amid expansion plans and a tough economic environment.”
Highlights of the shareholders engagement with board of directors at the EGM was the approval for the company’s plan to raise N6.5 billion, which will be through right issue.
The shareholders also approved a shareholder loan of N5.5 billion from TY Holdings Limited, the majority shareholder of the company.
Another high point of the meeting was the special recognition accorded to Mr. Adeshina Alayaki, the immediate past Finance Director, for his outstanding service and dedication to the company.
The shareholders and board members commended Mr. Alayaki for his invaluable contributions to the company growth and success during his tenure.
The company’s chairman, Mr. Aminu Ado, expressed gratitude to Mr. Alayaki for his commitment to the company’s mission and values. “We appreciate Mr. Alayaki’s tireless efforts and expertise in steering the company’s financial direction,” Mr. Ado said.
Meanwhile, a breakdown of the operating results for the 2024 financial performance shows that the company’s revenue surged to N8.38 billion in 2024, up from N6.06 billion in 2023. Profit after tax also rose to N1.62 billion, compared to N0.85 billion the previous year.
According to Ayodeji Useni, “Despite the volatile landscape, our growth was driven by a mix of improved operational efficiencies, cost optimization, strategic pricing, and new business opportunities.”
As the company looks ahead, it remains focused on consolidating its gains through targeted capital investments and innovation. Ayodeji Useni emphasized.
Pointing out that “As we look ahead, we remain focused on consolidating these gains through targeted capital investments and innovation. Key priorities for 2025 include expanding our market footprint through deeper shareholder engagement, investing in workforce development and employee engagement, and exercising rigorous cost control.”
Incorporated in 1959, Industrial and Medical Gases (IMG) Nigeria Plc which share price closed at N34.90 kobo, on Friday June 20, 2025, is sub sahara Africa’s market leader in industrial, medical and food grade gases, welding & medical equipment and engineering services.
The company commenced operations in 1960 and was listed in 1979. With head office in Lagos Nigeria, operating with a network of branches, depots and distributors across the country delighting and constantly meeting the needs of customers and developing solutions that add value to customers applications.
It production processes and products meets local and international standards as well as its customers requirements.
