Union Dicon Salt Plc is determined to revive its operations after years of inactivity threatened its NGX listing.
Revival Efforts Underway
Previously, the company had largely stalled production and business activities, which prompted the Nigerian Exchange Limited (NGX) to place it on the Delisting Watchlist.
In a statement on Thursday, Company Secretary Alfred E. James explained that management is actively restoring productivity and meeting all regulatory requirements.
Shareholder Challenges
However, recovery has been complicated because the company cannot reach its majority shareholder, Aims Limited, which controls 40% of shares.
“The company has been unable to contact the majority shareholder, despite repeated attempts,” the statement confirmed.
Fortunately, NGX has granted a two-year window, allowing Union Dicon Salt to implement measures that ensure compliance and operational stability.
Union Dicon Salt Operational Restart
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Under new management, the company has restarted salt and pepper production and secured NAFDAC approvals for its facilities.
Moreover, management has begun packaging Dicon Salt and Dicon Hot Pepper, signalling a return to full production.
Management is also engaging shareholders with 5% or more equity to align them with its strategic direction.
Yet, the involvement of Aims Limited remains urgent, as its absence affects governance, shareholder resolutions, and voting processes.
Union Dicon Salt emphasizes that it maintains transparency, corporate governance, and regulatory compliance throughout this recovery journey.
Despite the challenges, the company continues to restore operations, prevent delisting, and build a sustainable, compliant future.
Now, the story of Union Dicon Salt reflects revival, resilience, and a determined return to the market.
