Presco Plc announces emergency meeting, set to consider the acquisition of a private company.


Preso Plc, a public limited liability company based in Nigeria with a special focus on industrial as well as smallholder plantations of tree crops, has announced that it will be holding an emergency meeting on the 24th of June, 2021.

This is according to a notification signed by the company’s secretary, Patrick Uwadia and sent to the Nigerian Exchange Group Limited.

According to the notice, the emergency meeting was scheduled to enable shareholders consider the company’s move to acquire all the shares of an existing private company limited by shares and in the same line of business with the company. The meeting will help determine subsequent decisions or actions that will be taken as regards the deal, especially at the company’s next General Meeting.

As at the period of reporting, the name of the company remains unknown. However, it is generally expected that after the emergency meeting, details concerning the deal, such as the name of the proposed company, will be further communicated to relevant stakeholders.

In line with statutory provisions, the company has consequently announced the commencement of a Closed Period from Wednesday, 16 June 2021 until 24 hours after the decisions taken at the Board Meeting are released to the public. During the close period, all insiders are generally prohibited from buying or selling shares of the company.

For more information about the recent disclosure, click HERE.

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