Ellah Lakes Plc has unveiled plans to raise up to N250 billion through a public offer, private placement, or other equity issuance.
The move is subject to shareholders’ approval at an Extraordinary General Meeting (EGM) scheduled for Friday, July 25, 2025, at the Conference Centre, Naval Dockyard, Lagos.
In a notice signed by the company’s board, Ellah Lakes stated that it is seeking authorization to execute all necessary agreements, appoint professional advisers, and take steps required to effect the capital raise.
The funds are expected to support the organisation’s growth strategy and consolidate its presence in Nigeria’s agriculture sector.
In addition to the capital raise, shareholders will also vote on the conversion of outstanding director/shareholder loans into equity, as well as an increase in the company’s share capital to accommodate new shares.
The resolutions, if approved, will allow the board to act swiftly and in line with regulatory guidelines provided by the Securities and Exchange Commission (SEC) and the Nigerian Exchange (NGX) Limited.
Shareholders who cannot attend in person are entitled to vote by proxy, with proxy forms due at least 48 hours before the meeting.
Headquartered in Benin City, Edo State, Ellah Lakes has recently ramped up efforts to reposition itself as a key player in the agribusiness space. The upcoming EGM marks a critical step in its long-term strategic roadmap.