Zichis Agro-allied Completes Board Meeting Amid NGX Listing Plans

Kayode Tokede

Zichis Agro-allied Industries Plc, has completed its board meeting with the capital  market regulating bodies, financial advisers and shareholders  amid its plans of a liisting by introduction,  N1.09 billion shares on the floor of the Nigerian Exchange Limited (NGX).

The  agro-allied company is planning to list on the growth board of NGX 600 million ordinary shares of N0.50 each at N1.81 kobo per share, translating into N1.09 billion.

Financial advisers at the board meeting  include QCAPITAL Limited and Cordros Capital Limited.

In his opening remarks before the signing ceremony with key market stakeholders, the Board Chairman, Mr.  Hezekiah Oshaba, promised that the organisation would be guided by best corporate practice when listed on the NGX.

Oshaba said, “As a board, we will be guided by the best corporate practice. By the time we are listed, we will follow all the guidelines that we are supposed to follow and ensure that our investors don’t have any regret in the long run. As businessmen that we all are, if you put your money anywhere, you expect returns, and that’s the essence of all of it anyway.

“Be rest assured that as board members, and even the management team, we are poised to take you to another level. As it has already been said, the NGX is growing in leaps and bounds, and everybody, as it were, wants to tap from the growth.”

Speaking also, the Managing Director, Zichis Agro-allied Industries, Mrs. Anthonia Akabusi, stated the company’s transition from a limited to a public limited company is  a remarkable journey.

He said, “The transition is a journey of resilience and scalability. Zichis Agro-allied Industries listing on the NGX is a starting point. We are promising investors, stakeholders and regulators  that the management is not going to disappoint in transparency  and consistent filing of reports

“We are ready to learn, and adjust  to listing requirements of the regulators. Our communication team is ready to listen and make corrections when necessary.  We promise to execute our strategy  once listed on NGX. What we present to stakeholders is what the management  is going to  practice. Our shareholders value is what we are holding onto and we promise not to disappoint.”