The Court of Appeal, Benin Division, has overturned a Federal High Court ruling that previously invalidated Presco Plc’s 2025 Annual General Meeting and blocked its rights issue. The appellate court found that the lower court lacked jurisdiction and failed to grant Presco a fair hearing. By setting aside the December 2025 judgment, the ruling effectively restores the validity of the AGM resolutions and the company’s corporate actions, allowing the rights issue process to stand.