Zichis Agro Allied Industries AGM Results: Key Resolutions Passed
Zichis Agro Allied Industries Plc held its 3rd Annual General Meeting on 30 April 2026 in Abeokuta, Ogun State, where shareholders passed 16 resolutions. The filing, dated 6 May 2026, covers dividend and bonus share approvals, capital raise plans, land acquisition, and governance changes.
At its 3rd AGM held on 30 April 2026, Zichis Agro Allied Industries Plc secured shareholder approval for a cash dividend of 20 kobo per 50 kobo ordinary share for the financial year ended 31 December 2025. Shareholders on the register as at 16 March 2026 qualified for both the dividend and a bonus share issue in the ratio of 1 new share for every 1 existing share held.
Shareholders also approved the acquisition of 2,000 acres of farmland in Ogbere and Ajebo, Ogun State, for palm production expansion, valued at ₦5.5 billion, to be settled through a special placing of 400 million ordinary shares at market value. The company's authorised share capital is proposed to increase to ₦1 billion, divided into 2 billion ordinary shares of 50 kobo each.
Additional resolutions authorised the board to raise up to ₦50 billion through equity or debt instruments, issue up to ₦5 billion in commercial papers, and pursue acquisitions in the same line of business. Two new Non-Executive Directors — Alhaji Tambari Abdullahi Kabiru and Chief John Zimako Akabusi — were appointed. The Articles of Association were also amended to allow virtual meetings.
