Neimeth Seeks Approval for N1.9 Billion Share Transfer

Neimeth International Pharmaceuticals Plc has announced a court-ordered meeting scheduled for February 5, 2026, following an order from the Federal High Court in Lagos. The meeting, presided over by Justice Y.

Bogoro, will consider the approval of a N1.9 billion reduction in the company's share premium account, moving funds to support operational expenses and dividends. This virtual meeting will take place on March 31, 2026, where shareholders will vote on the proposed resolutions.

The company aims to raise N20 billion in capital to support its expansion plans, which include addressing previous debts and improving its financial position. Neimeth reported a significant turnaround with a post-tax profit of N1.48 billion for the year ending December 31, 2025, compared to a pre-tax loss of N854.43 million in 2024.

The company has also restructured its loans, raising N6.7 billion in new financing to strengthen its financial structure.