A corporate disclosure by Union Dicon Salt Plc has raised fresh questions about shareholder communication and governance oversight within Nigeria’s listed companies after the firm publicly declared that it has been unable to reach one of its largest shareholders.
In a formal announcement issued to the Nigerian Exchange Limited (NGX), shareholders and the investing public, Union Dicon Salt Plc said it has been unable to establish contact with Aims Limited, which holds a significant equity stake in the company.
According to the notice signed by Alfred E. James, the company secretary, Aims Limited owns 64 million shares representing 40 percent of the company’s issued share capital, effectively positioning it as one of the most influential shareholders in the listed salt manufacturing firm.
The company disclosed that repeated attempts to communicate with the shareholder have so far been unsuccessful, prompting the unusual step of issuing a public notification in compliance with provisions of the Exchange’s rulebook governing disclosures by listed issuers.
“In line with the provisions of 17.5 Rule Book of the Exchange 2015 (Issuers Rules), Union Dicon Salt Plc hereby notifies the Nigerian Exchange Limited, shareholders of the company, and the general public,” the notice stated, before outlining the inability to reach the shareholder despite several efforts.
Union Dicon Salt Plc said the public disclosure is intended to formally request that Aims Limited immediately establish contact with the company through its corporate offices located at Kirikiri Lighter Terminal, Kirikiri Phase 2, Apapa, Lagos, or through the office of the company secretary.
