In a press release posted on the Nigerian Stock Exchange (NSE) website, Union DIcon Salt Plc has announced the incorproration of UDS Farms Limited and the a change in its corporate structure.
UDS Farms Limited will be incorporated to run the Agribusiness operations of Union DIcon Salt Plc.
Chuka Mordi and Bez Nwawudu will be transitioning to UDS Farms Limited to oversee and expand the operations.
Col. (Rtd) Henry Mgbemena reverts to the role of Managing Director, of Union Dicon Salt Plc, & Mrs. Florence Iroye remains the company secretary.
Dicon Salt Limited and Union Salt Limited which were incorporated as private limited liability companies on 11 October 1984 and 30 May 1991 respectively. The Companies were merged and simultaneously converted into a public limited liability company on 7 May 1993 to become Union Dicon Salt Plc. The Company was listed on the NSE on 23 September, 1993. The principal activity of the company is the processing of crude salt. The company is also involved in the sales of packaged water in sachets and plastic bottles.
Union Dicon shares are currently trading at N13.45 in today’s trading session on the NSE. Year to date, the shares are down 14.17%.
Here is a copy of the release.
