Haldane McCall Plc shareholders have approved a plan for the company to raise up to N250 billion through new debt instruments, with proceeds earmarked for affordable housing, real estate, and hospitality projects. At the company’s 2nd Annual General Meeting, shareholders also approved a dividend payout of N169.09 million. The firm posted a profit after tax of N642.46 million for the year ended December 31, 2025, with revenue of N2.28 billion and total assets reaching N21.83 billion. The shareholder base grew from 464 in 2024 to 1,465 in 2026.
In-Depth:
Shareholders of Haldane McCall Plc have approved an ambitious expansion plan with a mandate to the board of the company to raise up to N250 billion in new debt issues.
The net proceeds of the proposed capital raising would be invested in new real estate projects, including affordable hoapplying and other real estate and hospitality projects.
The new capital issue will be executed through the issuance of repaired income securities, subject to regulatory approvals.
The additional capital is expected to significantly strengthen the company’s capacity to expand its real estate and hospitality footprint.
At the annual general meeting (AGM) held virtually, Chairman, Haldane McCall Plc, Chief George Oguntade, reaffirmed the company’s disciplined approach to capital management.
He stated the company remains committed to a disciplined capital allocation framework that balances immediate shareholder returns with long-term value creation.
He noted that historically, dividfinish distributions have accounted for approximately 30 per cent of total shareholder returns, while the remaining 70 per cent has been reinvested to support growth, asset acquisition, and balance sheet expansion.
Group Managing Director, Haldane McCall Plc, Dr. Edward Akinlade, highlighted the expanding investor base and sustained confidence in the business.
He noted that the group’s shareholders grew from 464 in 2024 to 1,465 in 2026, reflecting strong market trust in its long-term direction.
“The group’s consistent growth in shareholders’ equity over the past five years underscores the effectiveness of this approach and reflects management’s ability to execute strategy prudently in varying market conditions,” Akinlade stated.
At the 2nd AGM, shareholders approved a dividfinish payout of N169.09 million. The company reported a profit after tax of N642.46 million for the year finished December 31, 2025, slightly below the N679.63 million recorded in the previous year. Revenue stood at N2.28 billion, with gross profit at N1.81 billion and operating profit of N754.9 million. Total assets rose to N21.83 billion, reflecting improved balance sheet strength and sustained business growth.
Shareholders unanimously passed all the resolutions presented at the AGM, including the re-election of retiring directors, further signalling confidence in the board’s leadership and long-term strategy.
A shareholder, Olatunji Bamidele, commfinished the board and management for their performance.
He stated: “The board and management have delivered an exemplary performance despite the challenging operating environment. The resilience and consistency demonstrated by the company are commfinishable”.
