Geregu Power Plc has announced a delay in holding its Annual General Meeting (AGM), citing ongoing governance alignment and operational coordination during the company’s transition and change management phase. The meeting, originally scheduled to take place on or before April 30, 2026, will now be rescheduled following internal processes that required additional time to complete. The company issued a formal statement on Monday, informing the Nigerian Exchange Limited, shareholders, and the public of the postponement. This update comes after the release of the company’s audited financial statements and the initial announcement of the proposed AGM date.
The delay is attributed to the need for management to focus on key governance and operational matters during a critical phase of transition. According to the statement, these internal alignment efforts affected the company’s ability to finalize all arrangements necessary for convening the AGM within the originally communicated timeline. Despite the postponement, Geregu Power emphasized its commitment to maintaining strong corporate governance, transparency, and full compliance with regulatory requirements. The company assured stakeholders that all efforts are underway to complete the outstanding processes and meet the applicable regulatory deadlines.
A new AGM date will be announced once internal processes are concluded and all necessary approvals are obtained. The company also confirmed that dividend payments will proceed on the date communicated during the AGM, subject to shareholder approval at the meeting. “Dividends will be paid on the communicated date of the AGM upon the approval of the shareholders in the general meeting,” the statement read. This assurance aims to maintain investor confidence during the transitional period.
The announcement arrives at a time of heightened investor interest in Nigeria’s power sector, particularly regarding governance standards, dividend policies, and operational performance of listed power companies. Geregu Power’s management and board expressed gratitude to shareholders and stakeholders for their continued understanding and support. The statement was signed by Gbeminiyi Shoda, Company Secretary of Geregu Power Plc. As the company navigates its transformation, stakeholders are expected to remain engaged as the new AGM date is formally communicated. This development underscores the importance of governance stability in Nigeria’s evolving electricity market.
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