Some shareholders of PZ Cusson Nigeria Plc has rejected N23 offered to minority shareholders as pay off and recommended N40.

This was part of the highlights at the company Extral Ordinary Meeting (EGM).

They also suggested to the board of directors to  accept debt equity conversation which off course will lead to dilution of shares & that invariably will affect minority shareholders.

According to them “It’s our believe in positive future outlook of the economy and longtime benefit to minority shareholders”

Adding that It’s better to have PZ retain in Nigeria than to have peanut given to shareholders

They advised the company to adopt more local sourcing of raw materials as a cautionary means against foreign exchange effect on imported raw materials.

Cost cutting measure in terms of reduction in numbers of expatriate in Nigeria, Amount paid to PZ (uk) annually as research & development, technincal know how and management fees making up to N6 billion annually.

Called for more recruitment of Nigeria into management position as a way of ensuring inclusivity and reduction in foreign exchange  cost of recruiting foreigners.

Emphasised on the need to encourage exportation of products to neighboring countries in order to boost foreign exchange  earnings.