Zichis Agro-Allied Industries Plc (“the Company”) has noted recent media reports suggesting that the Company is set to undertake an Initial Public Offering (IPO) or related capital raising activity.
The Company wishes to clarify that no official announcement has been made in respect of any IPO or public offering of shares at this time.
The Company further notes that, as disclosed in its Notice of Annual General Meeting (AGM), one of the resolutions provides as follows:
That the Company be and is hereby authorized to raise N50Billion additional capital through Debt Finance or Equity raising by Public Offers, Rights Issue or a combination of both and by the issue of debt instruments in such tranches, series, or proportions and at such periods or dates, coupon or interest rates and such other terms and conditions as may be determined by the Board of Directors subject to obtaining the approvals of the relevant regulatory authorities.
The Company confirms that it plans to obtain shareholders’ approval at its upcoming AGM to raise funds, however, the full details have not been concluded.
At this stage, the structure, timing, and specific terms of any such capital raising have not been determined, and no transaction has been concluded.
As a company listed on the Nigerian Exchange Limited (NGX), the Company remains committed to the highest standards of corporate governance, transparency, and timely disclosure. Accordingly, any material corporate actions or capital market activities will be communicated through the appropriate regulatory channels.
The Company acknowledges the continued interest of investors and market participants and remains focused on delivering sustainable value through disciplined strategic execution.
Shareholders and the investing public are advised to rely solely on official disclosures and filings made by the Company through the Nigerian Exchange Limited (NGX) and other authorized regulatory platforms when making investment decisions.
The Company appreciates the continued support of its shareholders and remains committed to maintaining transparency in all its communications.