Secure Electronic Technology Plc has notified the Nigerian Exchange and the investing public of the of the termination of its proposed share reconstruction and recapitalization exercise.
The Board of the Company met on December 16, 2025 to consider the status of the proposed share reconstruction and recapitalization.
After due deliberations, the board announced that the proposed share reconstruction will not take place as anticipated due to the inabilities of the parties to reach a convergence on the best and mutually viable terms.
Following the impasse in the negotiation regarding the proposed share reconstruction, and the investors’ withdrawal from the transaction, the Board has decided to accept the outcome and move ahead in the overall interest of the business.