UNIVERSITY PRESS PLC HOLDS 47TH ANNUAL GENERAL MEETING, REPORTS STRONG RETURN TO PROFITABILITY AND APPROVES 15 KOBO DIVIDEND

Ibadan, Nigeria – September 18, 2025.

University Press PLC successfully held its 47th Annual General Meeting (AGM) on Thursday, September 18, 2025, at the Kakanfo Conference Centre, Ring Road, Ibadan, bringing together shareholders, members of the Board of Directors, corporate advisers, regulators, auditors, and other stakeholders to review the Company’s performance for the 2024/2025 financial year.

The meeting was chaired by the Chairman of the Board, Mr. Obafunso Ogunkeye, alongside the Managing Director, Mr. Samuel Kolawole, members of the Board, and representatives of the Company’s professional advisers and regulatory stakeholders.

Reflecting on Performance and Growth

During the meeting, shareholders considered and adopted the audited financial statements for the year ended March 31, 2025, together with the reports of the Directors, Auditors, and Audit Committee.

A major highlight of the AGM was the company’s remarkable financial turnaround during the year under review. Shareholders commended the Board and Management for successfully steering the business from a loss position in the previous year to profitability, recording significant growth in revenue from approximately ₦2.6 billion to ₦3.4 billion.

The improved performance was further reflected in the increase in dividend payout, which rose from 2.5 kobo to 15 kobo per share, reinforcing the Company’s commitment to delivering value to shareholders despite prevailing economic challenges.

Shareholders Commend Board and Management

Shareholders expressed appreciation to the board and management for their resilience, strategic leadership, and dedication to sustainable growth. They praised the company’s commitment to sound corporate governance, risk management, transparency, and shareholder engagement.

Discussions during the meeting focused on key areas including business expansion opportunities, product diversification, technology adoption, digital transformation, marketing effectiveness, customer engagement, infrastructure improvements, and long-term growth strategies.

Shareholders also encouraged the company to continue strengthening its presence across strategic markets, leverage emerging technologies such as artificial intelligence, enhance cybersecurity measures, and sustain its corporate social responsibility initiatives.

 

Commitment to Sustainable Growth

Responding to shareholders’ comments and observations, the Managing Director, Mr. Samuel Kolawole, expressed gratitude for the confidence reposed in the board and management.

He assured shareholders that their recommendations would be carefully considered and reaffirmed Management’s commitment to executing strategies that will strengthen the Company’s competitiveness and long-term sustainability.

The Chairman, Mr. Obafunso Ogunkeye, also thanked shareholders for their constructive feedback, assuring them that the board remains committed to enhancing operational performance, creating sustainable value, and positioning University Press PLC for future growth.

Key Resolutions Approved

During the AGM, shareholders unanimously approved several resolutions, including:

• The declaration of a 15 kobo dividend per ordinary share for the financial year ended March 31, 2025.
• The re-election of Mr. Obafunso Ogunkeye as Director and Chairman of the company.
• The re-appointment of Professor Tracie C. Utoh-Ezeajugh as an Independent Non-Executive Director.
• Authorization for the Directors to determine the remuneration of the External Auditors for the 2025/2026 financial year.
• Approval of Directors’ remuneration in accordance with applicable regulatory provisions.
• Election of shareholder representatives to the Audit Committee for the 2025/2026 financial year.

Honouring Service and Legacy

The meeting observed a moment of silence in honour of the late Mr. Olayinka Lawal, a former Non-Executive Director of the company, in recognition of his contributions to the growth and development of University Press PLC.

Shareholders also paid tribute to Pa. Oladipo Yemitan, the company’s first indigenous author, whose presence at the meeting was warmly acknowledged and celebrated.

Looking Ahead

As University Press PLC continues its transformation journey, the company remain focused on strengthening its market leadership, driving innovation, expanding customer value, and delivering sustainable returns to shareholders.

The successful outcome of the 47th Annual General Meeting reflects the collective commitment of the board, management, employees, shareholders, and stakeholders to building a stronger and more resilient University Press PLC.

The meeting concluded at 1:15 p.m. following the successful consideration and adoption of all agenda items.

About University Press PLC

University Press PLC is Nigeria’s foremost indigenous book publishing company, dedicated to advancing education through the development, publication, and distribution of high-quality educational and general reading materials. With a legacy spanning several decades, the company remains committed to promoting learning, literacy, innovation, and national development.