My people, e be like say Multi-Trex Integrated Foods no wan slack again o! Dem don get approval from Nigerian Exchange wey go help dem boost their public shareholding matter. This move no be play play, na serious gbege to make sure the company dey comply with the market oga’s rules.
According to wetin the Company Secretary, Sogunle Adekunle, talk for statement wey drop on Tuesday, dem don give Multi-Trex exactly 24 months grace, wey go end on 14 January 2028, to waka come back with at least 20 percent of their issued share capital or dem market capitalization fit land on 20 billion naira, whichever one fit reach first.
Abeg, make I break am down: this whole gist come after dem don do recapitalisation wey make their free float dey below what those market people dey expect. You sabi how e be, after seven good years wey dem no dey operate, N-Foods Universal Concept Limited come show say dem get money to put for the company, na so dem come control 70 percent of Multi-Trex’s issued share capital. As e stand, the public free float dey chill for just 7.23 percent, wey dey valued at N117.46 million, based on 2024 financial kata-kata.
Wey go fit tok say the company dey serious about maintaining their stay for NGX as dem dey explore strategies to increase public participation. Dem even talk am say if dem no meet up with the market standard within the given time, na wahala go dey o! Trading suspension or even delisting wan dey loom for the company’s securities.
The management no dey take their shareholders for granted as dem show appreciation for the patience and support wey dem don exhibit during this recovery phase. Dem dey emphasize say dem get serious plans wey go strengthen their operations and compliance to the market regulations. E be like say Multi-Trex don finally find road to recovery, and dis NGX approval na big step for dem! Make we dey watch as dis gist dey unfold! Naija market go dey hot abeg!
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