Powder Mills Nigeria Plc and Honeywell Powder Mills Plc

FMN said in a statement signed by Nigeria Exchange Limited on Wednesday and signed by the company’s secretary Joseph Umolu, that the group had recently announced that it would acquire a majority stake in Honeywell after taking the necessary precautions and getting proper legal guidance. .

“As a result, FMN asserts that this agreement does not violate any court order in matters relating to third parties. This additional confirmation is necessary in light of the publication ‘Ecobank Honeywell warns against buying powdered mills, the company is intensifying the process’.

“Therefore, we urge all stakeholders to maintain their trust in the management of FMN.

In a statement signed by HFPP Secretary-General Yewande Jiwa, he said: There is also no court order restricting trading in HFMP shares or barring HFMP or its owners from operating on its assets.

“The issue of whether HFMP is indebted to Ecobank is still before the courts and the final decision is the sole protection of the courts. It is important to note that the Court of Appeals mentioned in the reports did not declare the HFMP indebted to Ecobank.

The company assures investors, regulators and stakeholders that it has received free legal advice in all its dealings with FMN.

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