Honeywell Flour Mills PlcNSENG: HONYFLOUR

Mill plc- quarter 2 - financial statement for 2026

Oct 30, 2025 at 5:57 PM UTC · Issued by Honeywell Flour Mills Plc

Unaudited Interim Financial Statements

for the

2nd Quarter Ended September 30, 2025

HONEYWELL FLOUR MILLS PLC

Unaudited Interim Financial Statements - 2nd quarter ended September 30, 2025.

Contents

Page

Director certification report 1
Financial summary 2
Statement of financial position 3
Income statement 4
Statement of comprehensive income 5
Statement of changes in equity 6
Statement of cash flows 7
Notes to the interim financial statements 8 - 16

CERTIFICATION PURSUANT TO SECTION 60(2) OF THE INVESTMENTS AND SECURITIES ACT, NO. 29, 2007 - QUARTERLY REPORT

We, who are the responsible officers of Honeywell Flour Mills Plc., in compliance with Section 60 (2) of the Investments and Securities Act of 2007, wish to certify as follows;

That we have reviewed the Unaudited Financial Statements for the 2nd Quarter ended 30th September, 2025 under

review.
That based on our knowledge, the report does not contain:
1. Any untrue statement of a material fact, or
2. Omit to state a material fact, which will make the statement misleading in the light of the circumstances under which such statement was made;
  That based on our knowledge, the financial statements and other financial information included in the report fairly presents in all material respects the financial condition and results of operations of the company as of, and for the
periods presented in the report.
We:
1. Are responsible for the establishing and maintaining internal controls.
2. Have designed such internal controls to ensure that material information relating to the company is made known to such officers and others within those entities particularly during the period in which the periodic reports are being prepared;
3. Have evaluated the effectiveness of the company's internal controls as of date and within 90 days prior to the report;
4. Have presented in the report our conclusions about the effectiveness of our internal controls based on our evaluation as of that date;
Although these reports have not been audited, we have taken care to review:
1. All significant deficiency in the design or operation of internal control which would adversely affect the company's ability to record, process, summarized and report financial data
2. Any fraud, whether or not material, that involves management or other employees who have significant role in the company's internal controls;
  We have identified in the report whether or not there were significant changes in internal controls or other factors that could significantly affect internal controls subsequent to the date of our evaluation, including any corrective
  …………………………………...
actions with regards to significant deficiencies and material weaknesses.

…………………………………

Nassib Raffoul Chadzimura Mathew

Managing Director Finance Director

FRC/2024/PRO/DIR/003/551851 FRC/2017/ICAN/00000017014

HONEYWELL FLOUR MILLS PLC

The Board of Directors of Honeywell Flour Mills Plc hereby presents the following unaudited results for the 2nd Quarter ended September 30, 2025

Group

6 months ended

Company

6 months ended

Group Company

	30-Sep-25 N'm	30-Sep-24 N'm	30-Sep-25 N'm	30-Sep-24 N'm	% Change	% Change
Revenue	165,468	179,594	165,468	179,594	-8%	-8%
Profit/(Loss) Before Tax	2,584	3,424	2,660	3,424	-25%	-22%
Taxation	(965)	(901)	(965)	(901)	-7%	-7%
Profit/(Loss) for the Period	1,619	2,523	1,695	2,523	-36%	-33%

By Order of the Board

Osomomen L.Olukoya FRC/2022/PRO/NBA/004/451605

Company Secretary

HONEYWELL FLOUR MILLS PLC

Statement of Financial Position

Group

Company

as at September 30, 2025

	as at	as at	as at	as at
	30-Sep-25	31-Mar-25	30-Sep-25	31-Mar-25
Assets Notes	N'm	N'm	N'm	N'm
Non-current assets
Property, plant and equipment 7	71,281	70,804	71,281	70,804
Right-of -use assets 7b	676	693	676	693
Intangible assets 6	25	38	25	38
Long term loans receivables	-	3,151	-	3,151
Investment in subsidiary	-	-	150	300
	71,982	74,686	72,132	74,986
Current assets
Inventories 8	62,248	48,125	62,248	48,125
Trade and other receivables 9	55,159	27,560	55,159	27,748
Prepayments 10	4,803	11,809	4,879	11,809
Cash and cash equivalents 11	9,988	5,265	9,988	5,265
	132,198	92,759	132,274	92,947
Total assets	204,180	167,445	204,406	167,933
Equity and Liabilities
Equity
Share capital 16	10,427	10,427	10,427	10,427
Reserves	19,388	19,388	19,388	19,388
Retained earnings	9,442	7,630	9,518	7,823
	39,257	37,445	39,333	37,638
Liabilities
Non-current liabilities
Borrowings 12	17,250	20,284	17,250	20,284
Deferred tax 14	7,480	7,595	7,480	7,595
Lease liabilities 7b	827	769	827	769
Long service award	195	149	195	149
Deferred income 12b	1,024	1,319	1,024	1,319
	26,776	30,116	26,776	30,116
Current liabilities
Trade and other payables 13	129,441	87,798	129,591	88,093
Borrowings 12	7,745	6,681	7,745	6,681
Current tax payable 14	78	4,415	78	4,415
Lease liabilities 7b	101	102	101	102
Deferred income 12b	782	888	782	888
	138,147	99,884	138,297	100,179

Total liabilities	164,923	130,000	165,073	130,295

Total Equity and Liabilities	204,180	167,445	204,406	167,933

…………………………………..

The unaudited financial statements and notes on pages 3 to 15 were approved by the directors on 29th September, 2025 and signed on its behalf by:

……………………………………….

Nassib Raffoul Chadzimura Mathew

Managing Director Finance Director

FRC/2024/PRO/DIR/003/551851

3 FRC/2017/ICAN/00000017014

HONEYWELL FLOUR MILLS PLC

Income Statement

for the period ended September 30, 2025

Notes		Group
		6 months ended		3 months ended
		30-Sep-25	30-Sep-24	30-Sep-25	30-Sep-24
		N'm	N'm	N'm	N'm
Revenue		165,468	179,594	97,981	99,080
Cost of sales		(153,641)	(159,658)	(93,349)	(85,721)
Gross profit		11,827	19,936	4,632	13,359
Selling and administration expenses		(9,041)	(5,463)	(4,374)	(3,115)
Net operating gains and (losses)	17	909	(1,281)	743	(1,528)
Operating profit		3,695	13,192	1,001	8,716
Finance cost		(4,793)	(2,151)	(3,725)	(523)
Finance income		1,465	637	736	637
Foreign Exchange Gain/(Loss)		2,217	(8,254)	1,209	(7,114)
Net finance income/(expense)		(1,111)	(9,768)	(1,780)	(7,000)
		-	-	-
Profit/(Loss) before taxation		2,584	3,424	(779)	1,716
Taxation	14	(965)	(901)	(205)	(515)
Profit/(Loss) for the period		1,619	2,523	(984)	1,201

Company
6 months ended		3 months ended
30-Sep-25	30-Sep-24	30-Sep-25	30-Sep-24
N'm	N'm	N'm	N'm
165,468	179,594	97,981	99,080
(153,641)	(159,658)	(93,349)	(85,721)
11,827	19,936	4,632	13,359
(8,965)	(5,463)	(4,317)	(3,115)
909	(1,281)	743	(1,528)
3,771	13,192	1,058	8,716
(4,793)	(2,151)	(3,725)	(523)
1,465	637	736	637
2,217	(8,254)	1,209	(7,114)
(1,111)	(9,768)	(1,780)	(7,000)
	-	-
2,660	3,424	(722)	1,716
(965)	(901)	(205)	(515)
1,695	2,523	(927)	1,201

Basic Earnings per share (kobo) 20.42 31.82 (12.41) 15.15 21.37 31.82 (11.69) 15.15

HONEYWELL FLOUR MILLS PLC

Statement of Comprehensive Income

for the period ended September 30, 2025

	Group
	6 months ended 3 months ended
	30-Sep-25	30-Sep-24	30-Sep-25	30-Sep-24
Profit /(Loss)for the period recognised in the income statement Revaluation reserves	N'm 1619 -	N'm 2523 -	N'm (984) -	N'm 1,201 -
Total comprehensive income	1619	2523	(984)	1,201
Attributable to the owners of the company	1,619	2,523	(984)	1,201
Total comprehensive income for the period	1,619	2,523	(984)	1,201

Company
6 months ended		3 months ended
30-Sep-25	30-Sep-24	30-Sep-25	30-Sep-24
N'm	N'm	N'm	N'm
1695 -	2523 -	(927) -	1,201 -
1695	2523	(927)	1,201
1,695	2,523	(927)	1,201
1,695	2,523	(927)	1,201

HONEYWELL FLOUR MILLS PLC

Statement of Changes in Equity

as at September 30, 2025

Group

as at September 30, 2025	Issued share capital	Share premium account	Total share capital	Revaluation reserve	Total reserve	Retained income	Total equity
as at September 30, 2025	N'm	N'm	N'm	N'm	N'm	N'm	N'm
1-Apr-25	3,965	6,462	10,427	19,388	19,388	7,823	37,638
Total comprehensive income for the period	-	-	-	-	-	1,619	1,619
30-Sep-25	-	-	-	-	-	1,619	1,619
30-Sep-25	3,965	6,462	10,427	19,388	19,388	9,442	39,257

as at September 30, 2024	N'm	N'm	N'm	N'm	N'm	N'm	N'm
1-Apr-24	3,965	6,462	10,427	19,388	19,388	(6,958)	22,857
Total comprehensive income for the period	-	-	-	-	-	2,523	2,523
30-Sep-24	3,965	6,462	10,427	19,388	19,388	(4,435)	25,380
Company

as at September 30, 2025	N'm	N'm	N'm	N'm	N'm	N'm	N'm
1-Apr-25	3,965	6,462	10,427	19,388	19,388	7,823	37,638
Total comprehensive income for the period	-	-	-	-	-	1,695	1,695
Dividends on ordinary share capital	-	-	-	-	-	-	-
30-Sep-25	3,965	6,462	10,427	19,388	19,388	9,518	39,333

as at September 30, 2024	N'm	N'm	N'm	N'm	N'm	N'm	N'm
1-Apr-24	3,965	6,462	10,427	19,388	19,388	(6,958)	22,857
Total comprehensive income for the period	-	-	-	-	-	2,523	2,523
Dividends on ordinary share capital	-	-	-	-	-	-	-
30-Sep-24	3,965	6,462	10,427	19,388	19,388	(4,435)	25,380

HONEYWELL FLOUR MILLS PLC

Statement of Cash Flows

as at September 30, 2025

Group

6 months ended

Company

6 Months ended

	30-Sep-25	30-Sep-24	30-Sep-25
	N'm	N'm	N'm	N'm
Net profit/(Loss)	1,619	2,523	1,695	2,523
Taxation	965	901	965	901
Net finance costs	3,328	1,514	3,328	1,514
Finance cost	4,793	2,151	4,793	2,151
Finance income	(1,465)	(637)	(1,465)	(637)
				-
Operating profit	5,912	4,938	5,988	4,938
Depreciation, amortisation and impairment	2,978	3,258	2,978	3,258
Changes in working capital:	9,787	(5,119)	9,711	(5,119)
Inventories	(14,123)	9,955	(14,123)	9,955
Trade and other current receivables	(17,435)	(21,216)	(17,366)	(21,216)
Trade payables and other liabilities	41,345	6,142	41,200	6,142
Cash flow from operating activities	18,677	3,077	18,677	3,077
Income tax paid	(5,216)	(479)	(5,216)	(479)
Net cash flow from operating activities	13,461	2,598	13,461	2,598
Interest received	1,465	637	1,465	637
Purchase of intangible assets	-	-	-	-
Purchase of property, plant and equipment	(3,440)	(658)	(3,440)	(658)
Disposal of property, plant and equipment	-	378	-	378
Net cash flow (used in)/from investing activities	(1,975)	357	(1,975)	357
Dividends paid on ordinary share capital	-	-	-	-
Interest paid	(4,793)	(2,151)	(4,793)	(2,151)
Net change in borrowings	(1,970)	(1,204)	(1,970)	(1,204)
Net cash flow (used in)/from financing activities	(6,763)	(3,355)	(6,763)	(3,355)
Net increase/(decrease) in cash and cash equivalents	4,723	(400)	4,723	(400)
Cash and cash equivalents at the beginning of the perio	5,265	5,070	5,265	5,070
Cash and cash equivalents at the end of the period	9,988	4,670	9,988	4,670

30-Sep-24

HONEYWELL FLOUR MILLS PLC

Notes to the interim financial statements

for the period ended June 30, 2025

REPORTING ENTITY
Honeywell Flour Mills Plc was initially registered as Gateway Honeywell Flour Mills Limited on 21 June, 1983. A change in the Company's ownership structure led to a change of the name to Honeywell Flour Mills Limited in June, 1995. The Company was converted to a Public Liability Company in 2008. Its shares were listed on the Nigeria Stock Exchange (NSE) in 2009.
Honeywell Flour Mills Plc is a company domiciled in Nigeria. The Group and Company is principally engaged in the manufacturing and marketing of wheat-based products including Flour, Semolina, Whole Wheat Meal, Noodles and Pasta and management of Free Trade Zone Enterprises.
BASIS OF PREPARATION
1. Statement of compliance
  These interim financial statements have been prepared in accordance with IFRS as issued by the IASB applicable to the preparation of interim financial statements, including IAS 34, Interim Financial Reporting. The interim financial statements should be read in conjunction with the annual financial statements for the year ended 31st March 2025, which have been prepared in accordance with IFRS as issued by the IASB, and in the manner required by the Companies and Allied Matters Act 2020 and Financial Reporting Council of Nigeria (Amendment Act), 2023. Selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in financial position and performance of the Group since the last consolidated financial statements as at and for the year ended 31 March 2025.
2. Basis of measurement
  The financial statements have been prepared on the historical cost convention, unless otherwise stated in the accounting policies which follow and incorporate the principal accounting policies set out below.
3. Functional and presentation currency
  The financial statements are are presented in Naira, which is the Group and Coompany's functional currency. All financial information presented in Naira has been rounded to the nearest million.
4. Use of estimates and judgements

The preparation of the interim financial report requires Management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates.

In preparing this condensed consolidated and separate interim financial report, significant judgements made by Management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements as at and for the year ended 31 March 2025.

3. SIGNIFICANT ACCOUNTING POLICIES

The accounting policies applied by the Group in this condensed consolidated and separate interim financial report are the same as those applied by the Group in its consolidated statements as at and for the year ended 31 March 2025.

Group		Company
Sep-25	Mar-25	Sep-25	31-Mar-25
N'm		N'm	N'm
Software	Software	Software	Software
296	376	296	376
-		-
-	(80)	-	(80)
296	296	296	296
258 13 -	284 54 (80)	258 13 -	284 54 (80) -
271	258	271	258
25	38	25	38

Notes to the Interim Financial Statements 6.Intangible assets

Cost

opening Additions Modifications Disposals closing

Amortisation

opening

Amortisation for the year Modifications

Disposals

closing

Net Carrying Amount

HONEYWELL FLOUR MILLS PLC

Notes to the Interim Financial Statements

7. Property, plant and equipment

(Group and Company)
(Group and Company)	Land N'm	Buildings N'm	Plant and Machinery N'm	Motor Vehicle N'm	Furniture & Equipment N'm	Construction in Progress N'm	Total N'm
Cost/Valuation
01-Apr-25	8,500	27,402	78,034	2,399	1,088	55	117,478
Additions			9			3,431	3,440
Disposals							-
Other adjustments/reclassifications							-
30-Sep-25	8,500	27,402	78,043	2,399	1,088	3,486	120,918
Depreciation
01-Apr-25	-	(6,076)	(37,607)	(2,044)	(945)	-	(46,672)
Depreciation charge for the period Disposals		(278)	(2,613)	(53)	(21)		(2,965) -
30-Sep-25	-	(6,354)	(40,220)	(2,097)	(966)	-	(49,637)
Net Carrying Amount	8,500	21,048	37,823	302	122	3,486	71,281

(Group and Company)
(Group and Company)	Land N'm	Buildings N'm	Plant and Machinery N'm	Motor Vehicle N'm	Furniture & Equipment N'm	Construction in Progress N'm	Total N'm
Cost/Valuation
01-Apr-24	9,858	30,096	77,496	2,399	1,010	-	120,859
Additions		634	1,727	-	100	55	2,516
Accumulated Depreciation							-
Disposals	(1,358)	(3,328)	(1,189)	-	(22)	-	(5,897)
31-Mar-25	8,500	27,402	78,034	2,399	1,088	55	117,478
Depreciation
01-Apr-24	-	(7,099)	(30,141)	(1,845)	(756)	-	(39,841)
Depreciation charge for the period		(681)	(5,100)	(199)	(123)		(6,103)
Disposals Other adjustments/Reclassification		1,704	812 (3,178)		19 (85)		2,535 (3,263)
31-Mar-25	-	(6,076)	(37,607)	(2,044)	(945)	-	(46,672)
Net Carrying Amount	8,500	21,326	40,427	355	143	55	70,804

Group and Company
30-Sep-25		31-Mar-25
N'm		N'm
873		873
873		873

Group and Company
30-Sep-25		31-Mar-25
N'm		N'm
871		857
		-
58		116
929		973
		(102)

HONEYWELL FLOUR MILLS PLC

7b. Right of use assets (Group and Company)

Cost
At 1 April 2024 Additions Prepaid lease Modifications
Balance as at end of period
Accumulated depreciation
At 1 April 2024	180	151
Depreciation charged	17	29
Modifications
Balance as at end of period	197	180

Carrying Amount	676	693

Lease liabilities


At 1 April 2024 Additions Modifications Interest expenses
Less:Payment
	929	871
Analysed into: Non-current liabilities	827	769
Current liabilities	101	102
	928	871

HONEYWELL FLOUR MILLS PLC

Notes to the Interim Financial Statements

Group Company

8. Inventories	30-Sep-25	31-Mar-25	30-Sep-25	31-Mar-25
8. Inventories	N'm	N'm	N'm	N'm
Raw and packaging materials	22,933	19,550	22,933	19,550
Work-in-progress	8,303	1,654	8,303	1,654
Finished goods	4,852	2,860	4,852	2,860
Consumables and maintenance spares	7,484	6,393	7,484	6,393
Goods in transit Inventory write down	19,900 (1,224) 62,248	19,275 (1,607)	19,900 (1,224)	19,275 (1,607) 48,125
Goods in transit Inventory write down	19,900 (1,224) 62,248	48,125	62,248	19,275 (1,607) 48,125

Trade and other current receivables

8,180

46,967

55,159

3,912

23,594

8,180

46,967

-12

3,912

23,782

27,748

27,560

55,159

Trade receivables

Receivables due from related party companies loan receivable from related party

Other receivables

Prepayments
4,803

523

2,274

2,006

5,391	599	5,391
2,257	2,274	2,257
4,161	2,006	4,161
11,809	4,879	11,809

Prepaid Import Duty and Others Advance Payment to Vendors

Deposit for FX relating to forward and futures contrac

-		-
4,899	8,522	4,899
366	1,466	366
5,265	9,988	5,265

Cash and cash equivalent Cash and cash equivalents
9,077

-3,226

5,851

Cash in hand Bank balances

Short Term Deposit Cash and Deposits

Cash and cash equivalents reconciliation to the cash flow statement

Cash and cash equivalents per balance sheet	9,077	5,265	9,988	5,265
Less:bank overdrafts		-		-
Cash and cash equivalents per cash flow statement
	9,077	5,265	9,988	5,265

HONEYWELL FLOUR MILLS PLC

Notes to the Interim Financial Statements

30-Sep-25

N'm

1,024

782

Borrowings

as at September 30, 2025	Group and Company
as at September 30, 2025	Current N'm	Non-Current N'm	Total N'm
Bank loans and overdrafts	7,745	17,250	24,995
Import finance facilities			-
	7,745	17,250	24,995

Group and Company

	Current Non-Current N'm N'm	Total N'm
as at March 31, 2025
Bank loans and overdrafts	6,681 20,284	26,965
Import finance facilities	- -	-
	6,681 20,284	26,965

12b. Deferred income	Group and Company
	as at	as at
	31-Mar-25
	N'm
Government grants -long term Government grants -short term	1,319 888
	1,806	2,207

HONEYWELL FLOUR MILLS PLC

Notes to the Interim Financial Statements

13. Trade payables and other current liabilities

Group

Company

30-Sep-25

N'm

31-Mar-25

N'm

30-Sep-25

N'm

31-Mar-25

N'm

Due within one year Trade payables Unclaimed dividend

Accruals and other payables Deposit by customers Pension and sundry taxes Due to related parties

50,997

7,161

23,667

212

47,324

23,791

213

8,272

8,792

328

46,402

50,997

7,161

23,667

212

47,474

23,791

213

8,272

8,792

328

46,697

88,093

129,441

87,798

129,591

14 Taxation

At 1 April Charge for the period Under/over provision in prior year Charge for the period (Payment during the perio	4,415 965 -	796 4,358 -	4,415 965 (86)	796 4,358 -
	5,380	5,154	5,294	5,154
	(5,216)	(739)	(5,216)	(739)
At closing	164	4,415	78		4,415

Tax charge in income statement Tax payable

Gross movement in deferred tax during the quarter

At 1 April

Under/over provision in prior year

7,595

(115)

5,343

2,252

7,595

(115)

5,343

2,252

At closing

7,480

7,595

7,480

7,595

HONEYWELL FLOUR MILLS PLC

Notes to the Interim Financial Statements

15 Equity Consolidated statement of changes in equity	Group		Company
15 Equity Consolidated statement of changes in equity	30-Sep-25 N'm	31-Mar-25 N'm	30-Sep-25 N'm	31-Mar-25 N'm
Retained earnings at beginning	7,823	(6,959)	7,823	(6,959)
Total comprehensive income for the year Equity at closing	1,619	14,589	1,695	14,782
Total comprehensive income for the year Equity at closing	9,442	7,630	9,518	7,823

16 .Share capital

Sept 30 2025
Authorised share capital	Number in millions	Amount N'm
Ordinary shares of 50k each	8,000	4,000
Total authorised share capital	8,000	4,000
Issued and fully paid: Ordinary shares of 50k each	7,930	3,965
Total Issued share capital	7,930	3,965

Total Issued share capital	7,930	3,965

3,965

6,462

3,965

6,462

10,427

Issued

Ordinary

Share premium

HONEYWELL FLOUR MILLS PLC

Notes to the Interim Financial Statements

17. Net operating gains and (losses)

	Group		Company
	30-Sep-25	30-Sep-24	30-Sep-25	30-Sep-24
	N'm	N'm	N'm	N'm
Sundry (loss)/income Profit /(loss) on disposal of fixed assets	909 -	(1,281) -	909 -	(1,281) -
	909	(1,281)	909	(1,281)

18. Segment information	Group
18. Segment information	Tincan	Sagamu	Total
for the period ended September 30, 2025	N'm	N'm	N'm
Revenue	129,561	35,907	165,468
Cost of sales	(112,393)	(41,248)	(153,641)
Gross profit	17,168	(5,341)	11,827
Net Operating Gains/Losses	603	306	909
Selling and admin expenses	(7,131)	(1,910)	(9,041)
Segment operating (loss)/profit	10,640	(6,945)	3,695

	Company
	Tincan	Sagamu	Total
Selling and administration expenses	N'm	N'm	N'm
Revenue	129,561	35,907	165,468
Cost of sales	(112,393)	(41,248)	(153,641)
Gross profit	17,168	(5,341)	11,827
Net Operating Gains/Losses	603	306	909
Selling and admin expenses	(7,093)	(1,872)	(8,965)
Segment operating (loss)/profit	10,678	(6,907)	3,771

	Apapa	Sagamu	Total
for the period ended September 30, 2024	N'm	N'm	N'm
for the period ended September 30, 2024	127,778	51,816	N'm
Revenue	127,778	51,816	179,594
Cost of sales	(115,101)	(44,557)	(159,658)
Gross profit	12,677	7,259	19,936
Net Operating Gains/Losses	(278)	(1,003)	(1,281)
Selling and admin expenses	(3,887)	(1,576)	(5,463)
Segment operating (loss)/profit	8,512	4,680	13,192

Honeywell Flour Mills Plc Free Float Computation

Company Name: Honeywell Flour Mills Plc

Board Listed: Main Board

Year End: March

Reporting Period:

Share Price at end of reporting period:

Shareholding Structure/Free Float Status

Q2 Ended 30 September 2025

N22.00 (2024: N4.70)

Description Issued Share Capital	30-Sep-25			30-Sep-24
Description Issued Share Capital	Unit	7,930,197,658	Percentage 100.00%	Unit 7,930,197,658	Percentage 100.00%
Substantial Shareholdings (5% and above)
Siloam Global Services Limited Ecowise Horizon Investment Limited Greywise Investment Solution Limited		618,000,000 6,165,683,550 -	7.79% 77.75% 0.00%	618,000,000 3,841,846,799 2,323,836,751	7.79% 48.45% 29.30%
Total Substantial Shareholdings	6,783,683,550		85.54%	6,783,683,550	85.54%

Directors' Shareholdings (direct and indirect), excluding directors with substantial interests
Mr.Olanrewaju Bamidele Jaiyeola (Direct)	370,000		0.00%	370,000	0.00%
Mr. Omoboyede Oyebolanle Olusanya	-		0.00%	-	0.00%
Mr. Nassib Raffoul	-		0.00%	-	0.00%
Mr. Anders Lars Kristiansson	-		0.00%	-	0.00%
Mr. Sadiq Abubakar Usman	-		0.00%	-	0.00%
Mrs. Uchenna Stephanie Ajo	-		0.00%	-	0.00%
Mrs. Kate Osamede Iketubosin	-		0.00%	-	0.00%
Mr. Joseph Odion Umolu	-		0.00%	-	0.00%
Total Directors' Shareholdings	370,000		0.00%	370,000	0.00%

Other Influential Shareholdings
Basa Local Government	0		0.00%	0	0.00%
Chief Emeka (Promoter)	0		0.00%	0	0.00%
Total Other Influential Shareholdings	-		0.00%	-	0.00%

Free Float in Units and Percentage	1,146,144,108		14.46%	1,146,144,108	14.46%
Free Float in Value	₦ 25,215,170,376.00			₦	5,386,877,307.60

*Mr.Omoboyede Oyebolanle Olusanya (Indirect through Greywise Investment Solution Limited already included in the substantial shareholding

**Mr.Joseph Odion Umolu (Indirect through Greywise Investment Solution Limited already included in the substantial shareholding above

Declaration:

(A) Honeywell Flour Mills Plc with a free float percentage of 14.46% fell short of the required 20% while alternatively, the free float value of N25.2billion as at 30 September 2025, was in compliant with The Exchange's free float requirements for companies listed on the Main Board.

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