Abuja, 24th October 2025
PUBLIC STATEMENT BY DAAR COMMUNICATIONS PLC
DAAR Communications Plc (Daar Communications or the Company) wishes to clarify certain statements contained in some online publications and social media posts originating from 1 October 2025 to prevent misinformation, protect market confidence, and comply with Rule 17.10 of Nigerian Exchange Limited (NGX) Rulebook.
Company Position and Clarification of Misinformation:These allegations are unfounded and stem from unidentified sources spreading misinformation.
Initially, we refrained from responding to the alleged family estate proceedings, as they lacked foundation and no formal documentation required our attention. However, to prevent misleading stakeholders and mitigate potential impacts on market confidence, we are compelled to clarify that the article's premise is without merit and should be disregarded
High Chief Raymond Dokpesi, the founder of DAAR Communications, passed away on May 29, 2023. DAAR Investment and Holdings Company Limited is the parent company and holds the largest shareholding.
To the Board s knowledge, there are no pending proceedings regarding the late Founder's estate in any probate registry or court in Nigeria. While the Founder s personal shareholding may form part of his family estate, the Company's assets remain distinct and unaffected. Consequently, even if such proceedings existed, they would not impact on the governance or operations of DAAR Communications Plc as an independent legal entity.
Status of Assets and Operations:
No DAAR corporate assets have been sold, disposed of, frozen, or otherwise encumbered in connection with any alleged family estate proceedings.
The Company's broadcast and media operations remain ongoing without disruption.
Governance Assurance:
The Board of Directors and Management remain fully functional and stable. Governance structures, internal controls, and compliance frameworks are intact and operating normally. There are no governance changes arising from the referenced alleged family estate proceedings.
Investor Reassurance:
Based on information currently available to the Board, no material event has occurred that has adtersely affected the Company's financial position, its going-concern status, or shareholders 'investments as a result of the matters referenced in the publication.
Regulatory Commitment:DAAR Communications Plc continues to comply with all applicable laws and NGX Rulebook provisions, and it remains in active engagement with NGX Regulation Limited and other relevant regulators. The Company will promptly notify the market of any material developments in accordance with disclosure obligations.
Further Due Diligence:
DAAR Communications PLC's Statutory Audit Committee has engaged Chief Raymond Dokpesi Jr who is Chairman of DAAR Communications Plc and identified as a person with significant control in DAAR Investment & Holdings Company Limited who confirmed that the late High Chief Dokpesi's estate is not under any form of probate proceedings, and DAAR Investment & Holdings Company Limited, a separate priVate legal entity, managed by surviving shareholders remains the majority investor in DAAR Communications PLC.
Conclusion:
The source(s) alleged to have provided information to the online publication is/are faceless and is not known to us at DAAR Communications Plc. We therefore enjoin all our esteemed Shareholders, relevant Stakeholders and Members of the Public to disregard the online publications.
Signed:
For and on behalf of DAAR Communications Plc
Dr arcel Anyalechi
Ag. Chief Executive Officer (CEO)