Neimeth Worldwide Prescription drugs Plc has introduced that it’s going to convene a gathering for its shareholders, following an order from the Federal Excessive Court docket in Lagos dated 5 February 2026.
The assembly, directed by Honorable Justice Y. Bogoro, will contemplate and, if deemed applicable, approve the discount of the corporate’s Share Premium Account by N1.9 billion, from N2.37 billion to N390.01 million.
Below the proposed plan, N1.9 billion from shareholders’ fairness will transfer to the Income Reserve Account, seemingly funding dividends, working bills, or investments to smoothen the corporate’s day by day operations.
The court-ordered assembly, required by legislation to approve this scheme, might be held just about on 31 March 2026, throughout which different proposed resolutions may also be thought of and, if authorized, handed.
The scheme of association, as outlined within the paperwork dated 25 February 2026, was submitted to the courtroom, endorsed by the chairman, and might be reviewed on the assembly for shareholders’ consideration.
The board is totally empowered to take all steps it deems vital to make sure the scheme and associated resolutions are correctly executed.
This aligns with the corporate’s latest announcement to boost N20 billion in capital to help its growth plans.
On 18 February 2026, Nairametrics reported that Neimeth plans to boost N20 billion via the capital market, a transfer authorized by shareholders to assist the corporate develop.
It’ll additionally assist repair the steadiness sheet after earlier debt restructuring quickly elevated prices, giving the corporate a stronger {financial} place.
Okelu mentioned the funds will full growth tasks, enhance working capital, decrease financing prices, improve manufacturing capability, and hold the corporate on observe for greater earnings.
Neimeth Worldwide Prescription drugs Plc posted an unaudited pre-tax revenue of N1.48 billion for the 12 months ended 31 December 2025, marking a robust turnaround from a pre-tax lack of N854.43 million in 2024.
The corporate restructured a few of its loans, elevating N6.7 billion in new financing whereas repaying N2.2 billion, strengthening its financing construction and boosting operational liquidity.
Yr-to-date in 2026, Neimeth’s inventory has surged over 116%, at the moment priced at N11.55 mid-trading on the twenty seventh of February.
