This year's meeting with the Board of Directors was held at Benso Oil Palm Plantation PLC which was chaired by Dr. Ishmael Evans Yamson and eight members which we have three Executive directors and other Non-Executive Directors who were present .
Board Changes Your company is considering the appointment of new directors to replace retiring directors who are not seeking for re-election in compliance with the new Securities and Exchange Commission, and Ghana Stock Exchange guidelines. Since the last AGM the company has two (2) Directors retiring by rotation at this meeting in accordance with Regulation 68, sub-sections 1-6 of the Company’s Regulations. The two are independent non-executive directors who have served for more than nine (9) years and will be retiring as directors effective from 30th September 2022. “The retiring Directors who will not be seeking re- election are Mr. Neneyo Mate-Kole and I, Ishmael Yamson’’..
CSR - BOPP Revonated RC Primary School at Adum Banso
BOPP Management led by Victor Atta-Amponsah, Human Resource Manager, Chief and Elders of Adum Banso Commissioned the Renovated RC primary school block at Adum Banso Community on Thursday November 11, 2021 as part of BOPP 2021 CSR project.
BOPP continues to support brilliant but needy students within the communities through educational scholarships. As a result of the Government’s Free SHS policy, management migrated the Senior High School (SHS) Scholarship awarded to brilliant but needy students in the catchment communities to Tertiary Scholarship with effect from 2018 academic year. For the year unders review the beneficiary Communities are; Adum Banso- two (2) students, Benso- one (1) student, Manso- one (1) student and Dominase -one (1) student bringing the total to seven(7). As at 2021, Seventeen (17) students from the four (4) communities have benefited from the tertiary.
CSR - Donation of Hospital Beds for Benso Male ward.
BOPP Management led by Victor Atta-Amponsah, Human Resource Manager, Chief and Elders of Adum Banso Commissioned the Renovated RC primary school block at Adum Banso Community on Thursday November 11, 2021 as part of BOPP 2021 CSR project.
BOPP continues to support brilliant but needy students within the communities through educational scholarships. As a result of the Government’s Free SHS policy, management migrated the Senior High School (SHS) Scholarship awarded to brilliant but needy students in the catchment communities to Tertiary Scholarship with effect from 2018 academic year. For the year unders review the beneficiary Communities are; Adum Banso- two (2) students, Benso- one (1) student, Manso- one (1) student and Dominase -one (1) student bringing the total to seven(7). As at 2021, Seventeen (17) students from the four (4) communities have benefited from the tertiary.
“If you want to go fast, go alone, if you want to go far, go together”. African Proverb – Martha Goedert.
2021 Financial Statements
Operating Profit Your company in 2021 also witnessed a rise in operating profit by 258 percent on account of growth in crop production of 9 percent and the significant growth in the world market prices for crude palm oil. The improved operating efficiencies and the general rise of 63 percent and 70 percent of trading CPO and CPKO prices respectively compared to the prior period resulted also in the improved operating profit. Turnover expanded approximately by 73 percent from GH¢123.82 million in prior period to GH¢214.18 million. The combined effect of economies of scales in production and the cumulative Ghana Cedi depreciation of 4 percent had a constructive impact on revenue and on the cost of sales. In compliance with IFRS, gains arising from changes in the fair value of Biological assets contributed GH¢2,684,000 to the operating profit delivered in this year under review.
Dividend In 2021 your Company paid a total dividend of of GH¢7.41 million (Basic and Diluted EPS GH¢0.7097) out of a total profit of GH¢24.69 million for the year ended 31 December 2020. The directors of your Company propose to pay a total dividend of GH¢36.97 million (Basic and Diluted EPS GH¢2.6558) out of a total profit of GH¢92.41 million for the 2021 financial year, representing a 233% increase.
2022 Annual General Meeting.
This year's Annual General Meeting was held at Raybow Hotel, Takoradi. All shareholders and media crew were present and was treamed by Joynews.