Union Dicon Says It Cannot Reach 40% Shareholder Aims Limited

Union Dicon Salt Plc has said it is facing uncertainty after failing to establish contact with Aims Limited, the company identified as its largest shareholder with a 40 per cent stake.

The disclosure was made in a notice issued on Tuesday by the company secretary, Alfred James, and addressed to the investing public through the Nigerian Exchange disclosure channel.

In the notice, Union Dicon said Aims Limited owns 64,000,000 shares, representing 40 per cent of the company’s issued share capital. The company also said repeated efforts to reach the shareholder over a prolonged period have not produced any response.

Union Dicon stated that it had tried several channels to establish communication but had not been successful. It therefore used the public notice to request immediate contact from Aims Limited.

The company asked Aims Limited to reach it through its physical address at Kirikiri Lighter Terminal, Kirikiri Phase 2, Apapa, Lagos.

Union Dicon is partly owned by the Defence Industries Corporation of Nigeria, linked to the Nigerian Army, making the development notable for both market watchers and shareholders who track governance disclosures.

The company’s statement did not provide details on why communication with Aims Limited had broken down, nor did it indicate any timeline for resolving the issue. It also did not announce any immediate change to board structure, ownership rights, or ongoing operations.

As of October 1 in the third quarter of 2025, the company’s trading liquidity was reported at N475.89 million, according to the market data cited in the report.

The announcement is expected to draw further attention to shareholder communication and transparency obligations for listed firms, especially where a major equity holder cannot be reached for an extended period.