August 24, 2026
By Henry Ojelu
The Court of Appeal, Benin Judicial Division, has set aside the December 11, 2025 ruling of the Federal High Court, Benin, which had nullified Presco Plc’s 2025 Annual General Meeting, AGM, and restrained the company from proceeding with its rights issue and other corporate actions.
The appellate court also resolved the three issues canvassed by Presco in its favour in Appeal No. CA/B/220/2025.
The dispute arose from Suit No. FHC/B/CS/37/2024 instituted by parties who claimed to represent Nigerian shareholders holding about 40 per cent equity in Presco.
