Court of Appeal sets aside ruling against Presco, restores AGM, rights issue

The Court of Appeal, Benin Judicial Division, has set aside a December 11, 2025 ruling of the Federal High Court, Benin, which had nullified Presco Plc's 2025 Annual General Meeting and restrained the company from proceeding with its rights issue and other corporate actions. The appellate court resolved the three issues canvassed by Presco in its favour in Appeal No. CA/B/220/2025. The dispute arose from a suit instituted by parties claiming to represent Nigerian shareholders holding about 40 per cent equity in Presco.

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