Presco Plc Court Appeal Delays Next AGM Date Announcement
Presco Plc has filed an update on pending litigation arising from an interlocutory ruling by the Federal High Court (Benin Judicial Division) concerning its AGM held on 19 August 2025. The Company disclosed it has appealed that ruling to the Court of Appeal and will announce its next AGM date only after judgment is delivered.
Presco Plc has issued a corporate disclosure updating shareholders and the investing public on the status of litigation previously reported to the market.
On 11 December 2025, the Federal High Court, Benin Judicial Division, delivered a ruling in Suit No. FHC/B/CS/37/2024, making certain interlocutory orders in connection with the Company's Annual General Meeting held on 19 August 2025. Acting on the advice of counsel, Presco subsequently filed an appeal against that ruling at the Court of Appeal. The Court of Appeal has since reserved judgment, with the delivery date yet to be communicated.
In light of the reserved judgment, the Board stated it considers it prudent to defer announcing the date of the Company's next Annual General Meeting until after the appellate court delivers its decision.
Preco confirmed that the ongoing appeal does not interfere with the Board's and Management's statutory or operational responsibilities. The Company stated it remains committed to good corporate governance and to acting in the best interest of all stakeholders.
The filing was signed by Frederick Ichekwai, Company Secretary, and dated 29 July 2026 from Benin City, Nigeria. The Company indicated it will provide further updates as material developments occur.
