Geregu Power Plc has announced a delay in convening its Annual General Meeting (AGM), citing ongoing governance alignment and operational coordination during the company’s transition and change management phase.
In a statement released on Monday, the power generation company informed the Nigerian Exchange Limited, shareholders and the investing public that the AGM earlier expected to hold on or before April 30, 2026, would no longer meet the previously communicated timeline.
According to the company, following the release of its audited financial statements and announcement of the proposed AGM date, management had to prioritise internal alignment on key governance and operational matters.
The company stated that the process affected its ability to complete all arrangements required to convene the meeting within the initial timeframe.
“Following the release of the Company’s Audited Financial Statements and the announcement of the proposed AGM date, the Company, being in its change management and transition phase, had to prioritize alignment and coordination on key governance and operational matters,” the statement read.
Geregu Power said it remains committed to maintaining strong corporate governance standards, transparency and full regulatory compliance despite the delay.
The company added that efforts are ongoing to complete all outstanding processes required to hold the AGM within the applicable regulatory timeline.
According to the statement, a new AGM date will be communicated to the market after the conclusion of the internal processes and receipt of all necessary approvals.
The company also assured shareholders that dividend payment would proceed on the communicated AGM date once approved during the general meeting.
“Dividends will be paid on the communicated date of the AGM upon the approval of the shareholders in the general meeting,” the company stated.
The announcement comes amid increased investor attention on listed power companies as market participants continue to monitor governance developments, dividend payments and operational performance across Nigeria’s electricity sector.
Geregu Power’s management and board appreciated shareholders and stakeholders for their continued understanding and support during the transition period.
The statement was signed by Gbeminiyi Shoda, Company Secretary of the company.
