Union Dicon Salt Clarifies Status, Outlines Steps To Restore Operations

Union Dicon Salt Plc has issued a clarification to the Nigerian Exchange Limited (NGX), shareholders and the investing public regarding its efforts to revive operations and comply with listing requirements after a prolonged period of inactivity.

In a statement dated March 5, 2026, the company explained that it had been unable to contact its majority shareholder, Aims Limited, prompting the need to provide further clarification on its current situation and recovery plans.

The company disclosed that its operations had been largely dormant for an extended period, which led to its placement on the NGX delisting watchlist a category reserved for companies that have received delisting notices.

However, Union Dicon Salt noted that the delisting process has been temporarily suspended following the NGX’s grant of a stay of action for a defined period. During this time, the company’s management has been given two years to address the issues that triggered the delisting notice and restore full operational and regulatory compliance.

According to the company, the new management team has already taken several steps to reposition the business and resume operations.

Among the measures taken are the commissioning of the company’s salt and pepper production facilities, which have received the required approvals from the National Agency for Food and Drug Administration and Control (NAFDAC).

The firm also announced the commencement of packaging operations for both Dicon Salt and Dicon Hot Pepper products.

Union Dicon Salt further stated that it has maintained active engagement with substantial shareholders holding five per cent or more of the company’s equity, in an effort to align them with the firm’s new strategic direction.

Despite these efforts, the company said it has been unable to reach its majority shareholder due to the prolonged period of inactivity. Management noted that bringing the majority shareholder on board has become an urgent requirement as part of the process to restore the company’s full compliance with the NGX’s post-listing obligations.

The company reiterated its commitment to maintaining high standards of corporate governance, transparency and regulatory compliance while working towards restoring normal business operations as a compliant listed entity on the exchange.

Union Dicon Salt assured investors that it will continue to work diligently to reposition the company and strengthen its operational and regulatory standing.