{"id":80280,"date":"2021-05-03T17:30:58","date_gmt":"2021-05-03T16:30:58","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=80280"},"modified":"2021-05-03T22:26:40","modified_gmt":"2021-05-03T21:26:40","slug":"transcorp-delivers-across-portfolio-significantly-increases-electricity-generating-capacity-to-2000mw-launches-transformative-hospitality-products-advances-integrated-energy-strategy","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/transcorp-delivers-across-portfolio-significantly-increases-electricity-generating-capacity-to-2000mw-launches-transformative-hospitality-products-advances-integrated-energy-strategy\/","title":{"rendered":"Transcorp Delivers Across Portfolio, Significantly Increases Electricity Generating Capacity to 2000mw; Launches Transformative Hospitality Products, Advances Integrated Energy Strategy"},"content":{"rendered":"<div id=\"m#msg-f:1698754027672407268\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\">Shareholders of Nigeria&#8217;s leading diversified conglomerate, Transnational Corporation of Nigeria Plc (&#8220;Transcorp&#8221;), showed their strong confidence in the Board and management, at the Group\u2019s 15th Annual General Meeting (AGM), which took place this week at the Transcorp Hilton Abuja.<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \">\n<div class=\"clear\">\n<div dir=\"ltr\">\n<div>\n<p><span lang=\"EN-GB\">\u00a0<\/span><\/p>\n<p><span lang=\"EN-GB\">The shareholders commended the company for declaring dividends, noting that despite the negative impact of the Covid-19 pandemic on the Group\u2019s hospitality subsidiary, Transcorp remained committed to rewarding shareholders.\u00a0 They were impressed by the significant advances in the Group\u2019s integrated energy strategy, with the acquisition of Afam Power Plant Plc and Afam III Fast Power Ltd, delivering on the Group\u2019s promise to power Nigeria and change lives.\u00a0 They commended the resilience and dedication of the Board and management, despite the challenging global environment.<\/span><\/p>\n<p><span lang=\"EN-GB\">\u00a0<\/span><\/p>\n<p><span lang=\"EN-GB\">Speaking at the meeting, Mr Tony O. Elumelu, CON, Chairman of Transcorp, thanked shareholders for their continued support and promised that the Group will continue to execute its expansion, in line with its mission of \u201cImproving Lives and Transforming Nigeria\u201d.<\/span><\/p>\n<p><span lang=\"EN-GB\">\u00a0<\/span><\/p>\n<p><span lang=\"EN-GB\">Mr Elumelu stated \u201cIt was a difficult year, but we adapted, proved resilience and continued to invest \u2013 delivering the $300m Afam acquisitions in the middle of the pandemic, illustrated our unwavering commitment to the Group\u2019s success\u201d.<\/span><\/p>\n<p><span lang=\"EN-GB\">\u00a0<\/span><\/p>\n<p><span lang=\"EN-GB\">\u201cOur team added value across our portfolio.\u00a0 In the power sector, the Group completed the acquisition of Afam Power Plc and Afam III Fast Power, taking installed capacity to nearly 2,000MW.\u00a0 This acquisition demonstrated the Group\u2019s long-term strategy to create value and deliver robust power supply across Africa.\u00a0 In oil &amp; gas, the Group is driving forward investment in OPL 281 and participated in the acquisition of OML17.\u00a0 In hospitality, a new digital platform, Aura By Transcorp Hotels, which is set to redefine hospitality standards, was launched.\u201d<\/span><\/p>\n<p><span lang=\"EN-GB\">\u00a0<\/span><\/p>\n<p><span lang=\"EN-GB\">Speaking on the success of the Group\u2019s sustainable expansion strategy, Mr Elumelu said \u201cTranscorp has an extremely bright future.\u00a0 We have experienced an extraordinary transformation, from a narrow focus on hospitality, to our disciplined expansion across key sectors.\u00a0 Today, Transcorp has diversified its interest into the power and oil &amp; gas sectors, emerging as a key player in the energy sector \u2013 we are the leading listed investor across these critical sectors.\u201d<\/span><\/p>\n<p><span lang=\"EN-GB\">\u00a0<\/span><\/p>\n<p><span lang=\"EN-GB\">Mrs Owen Omogiafo, the President\/Group CEO of Transcorp said \u201cAt Transcorp, we continue to re-invent ourselves and position for opportunities that we can leverage to attain our vision of improving lives and transforming Nigeria.\u00a0 Moving into the future, we shall continue to expand, invest, and build the brand of the company sustainably as we believe that there is a lot of value trapped within Transcorp that needs to be unleashed and recognized by the market\u201d.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Shareholders of Nigeria&#8217;s leading diversified conglomerate, Transnational Corporation of Nigeria Plc (&#8220;Transcorp&#8221;), showed their strong confidence in the Board and management, at the Group\u2019s 15th Annual General Meeting (AGM), which&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":80300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-80280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Transcorp Delivers Across Portfolio, Significantly Increases Electricity Generating Capacity to 2000mw; 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