By Udeme Akpan Dangote Sugar Refinery Plc has received shareholders’ approval for a N500 billion Rights Issue, thus positioning the company to strengthen its financial standing, expand capital base, accelerate strategic initiatives, and aid its backward integration projects. The approval was given at the company’s 20th Annual General Meeting held yesterday in Lagos during which the shareholders commended Dangote Sugar’s robust performance over the past year, underscoring their support for the organization’s ongoing evolution and future plans. Addressing shareholders, Chairman, Dangote Sugar, Mr. Arnold Ekpe, remarked that the year under review saw a marked improvement in performance, despite a challenging economic environment, noting that revenue growth and enhanced EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) demonstrate positive operational momentum. However, profitability was weighed down by a foreign exchange loss of N46.7 billion and additional ...