Union Dicon Salt Works to Avoid Delisting from NGX

Union Dicon Salt Plc is actively seeking to revive its operations as it faces the risk of being delisted from the Nigerian Exchange (NGX) due to an extended period of inactivity. The company issued a statement on Thursday, signed by Company Secretary Alfred Jame, highlighting its efforts to return to product operations and prevent delisting.

Union Dicon Salt has experienced significant dormancy, which has led to its placement on the NGX delist watchlist. The company disclosed that it has been unable to contact 40 of its major shareholders, who collectively hold 64 million shares, representing 40% of its total issued share capital.

Despite these challenges, Union Dicon Salt emphasizes its commitment to meeting regulatory requirements and maintaining high standards of corporate governance and transparency. The company is focused on restoring normal operations and ensuring compliance with NGX listing requirements to avoid delisting.