By Chinwendu Obienyi
There is hope of superior returns on investment for the shareholders of Industrial and Medical Gases (IMG) Nigeria Plc as the company at the weekend, rebranded to expand its operation, grow income and scale up the shareholder value.
Commending IMG Nigeria Plc, formerly called BOC Gases, for its improved new identity, the National Leader Emeritus, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, expressed hope that the new identity of the company will lead to improved returns on investments for shareholders.
“Our customers should see the name of the company as an asset and I am urging the company to ensure that more oxygen gases is produced and distributed effectively to our hospitals”, Nwosu said.
An independent shareholder, Nona Awoh, said, “This is a new beginning and returns on investments for shareholders are important and it is now for the company with a new identity to fashion out ways of growing. 12 months down the line, we should see the direction of the company and I am urging the management to do everything possible to sustain returns to shareholders”.
Addressing newsmen as well as the shareholders, the Company’s Chief Executive Officer, Ayodeji Oseni, assured the shareholders that the rebranding would be the dawn of new era. According to him, the company is more positioned to expand its operations, introduce more innovative products and enhance shareholder value.
“We are all very excited about the bold and ambitious commitments that have been made by our new investor, the TY Holdings. These commitments will lead to additional plant procurement with accompanying facilities, strategic development of manpower, growth and development and business expansion within Nigeria and West Africa.
We shall leverage our team of seasoned staff with rich industry experience, modern equipment and quality products and services for optimal performance and generate shareholder value on sustainable basis, grow our businesses and evolve new products and business opportunities.” Oseni said.
Earlier in his welcome address, the Chairman, IMG Plc, Abiodun Alabi, explained that the rebranding was necessitated by the board’s determination to strengthen the company’s operations following its acquisition of 60 per cent stake by TY Holdings
His words, “In August this year, the Linde Group sold its controlling ownership of 60 per cent to TY Holdings, a group of company which has several business interests in various sectors of the Nigerian economy. The TY Holding Group is known for astuteness, great vision, and passion to excel in any field that it has presence. The shared vision is to significantly strengthen the number one position of our company in Nigeria and deepen our activities in West Africa.