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09/06/2021 News



Total Petroleum Ghana PLC on Wednesday, 1st June 2021 held its 45th Annual General Meeting at the Head Office in Accra to account to the shareholders of the company and to discuss the Company’s performance for the year ended 31st December 2020.

It is the second time the Company’s Annual General Meeting was held virtually. This is due to the restrictions imposed on public gathering and social distancing announced by the Government of Ghana and the Ministry of Health, necessitated by the impact of COVID-19 pandemic.

The meeting was chaired by Mr. Rexford Adomako-Bonsu, Non-Executive Director of the Company with some of the other Board members in attendance.

The Chairman on behalf of the Directors presented the Annual and Audited Financial Statements of The Company for the year ended 31st December 2020.

Regarding Board matters, shareholders re-elected the appointment of Mr. Alain Vedier, Mrs. Laurette Otchere and Mr. Stanislas Mittelman as Directors of the Board.

The consolidated profit after tax amounted to GHC112.3 million compared to GHC68.7 million in 2019, whilst Company’s profit after tax amounted to GHC113.6 million compared to GHC69.3 million in 2019.

On dividend, the shareholders approved a final dividend of GHC 19.399 million representing GHC0.1734 per share for the year ended 31st December 2020 which was paid to shareholders in December 2020. This brings the total dividend for the shareholders for the year to GHC27.163 million representing GHC0.2424 per share to be paid to shareholders at the end of June 2021 subject to withholding tax where applicable.

The Shareholders were satisfied with the performance of the Company and commended Management and Staff for the immense contributions towards the growth of the Company during a challenging period of the COVID-19 pandemic.