Neimeth sets court-ordered meeting, seeks approval for N1.9 billion share transfer

Neimeth International Pharmaceuticals Plc has announced that it will convene a meeting for its shareholders, following an order from the Federal High Court in Lagos dated 5 February 2026.

The meeting, directed by Honorable Justice Y. Bogoro, will consider and, if deemed appropriate, approve the reduction of the company’s Share Premium Account by N1.9 billion, from N2.37 billion to N390.01 million.

Under the proposed plan, N1.9 billion from shareholders’ equity will move to the Revenue Reserve Account, likely funding dividends, operating expenses, or investments to smoothen the company’s daily operations.