Shareholders of Presco Plc at the Annual General Meeting (AGM) held on August 19, 2025 resolved that subject to obtaining the approval of the relevant regulatory authorities, the Directors of the Company should raise capital of up to N250 billion by way of Rights Issue, through the issuance of ordinary shares, on such other terms and conditions and at such time, as the Directors may deem fit or determine.
The shareholders also resolved the Board of Directors invest in and acquire directly or through its subsidiaries all or majority of the shares or assets of a company or companies in the same line of business as Presco Plc, as determined by the Board of Directors pursuant to the Business Expansion Programme.
They also approved that shares not taken up by existing shareholders within the period stipulated under the Rights Issue may be offered to shareholders of the Company that have indicated interest in purchasing additional shares not taken up by the shareholders entitled to do so in the Rights Issue, on such terms and conditions as may be determined by the Directors, subject to complying with relevant
regulatory requirements.