Union Dicon Salt Unable to Reach 40% Shareholder contact

Union Dicon Salt Plc has disclosed that it has been unable to establish contact with its major shareholder, Aims Limited, which holds a 40 per cent stake in the company.

The disclosure was made through a public notice addressed to the Nigerian Exchange Limited (NGX), shareholders and the investing public. According to the company, Aims Limited owns 64,000,000 shares out of the firm’s total issued share capital, representing a substantial ownership interest.

In the notice, Union Dicon explained that several attempts had been made to communicate with the shareholder without success. The company therefore issued the announcement as a formal request for Aims Limited to urgently reach out.

The notice stated that the company had been unable to communicate with the shareholder for a period of time despite repeated efforts. It urged Aims Limited to immediately contact Union Dicon through its physical office located at Kirikiri Lighter Terminal, Kirikiri Phase 2, Apapa, Lagos.

The document was signed by the company’s secretary, Alfred E. James, though it did not specify how long the communication gap had lasted. The statement indicated that various attempts were made before the company resorted to making a public announcement.

A shareholding of 40 per cent represents a significant ownership block in a listed company and typically carries strong influence over strategic decisions, board appointments and shareholder resolutions.

The inability to reach a shareholder with such a substantial stake has raised concerns regarding corporate governance and shareholder engagement. Situations like this can influence voting patterns at annual general meetings and may affect corporate actions that require shareholder approval.

Although the company did not indicate any disruption to its operations, the development introduces a level of uncertainty around alignment on major decisions and oversight.

By issuing the notice publicly, the company signalled its intention to remain transparent with regulators and investors while documenting its efforts to re-establish communication with the shareholder.