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Aradel Holdings Plc has submitted a corporate disclosure to the Nigerian Exchange (NGX) establishing formal severance benefit terms for its Non-Executive Directors, including board members who retired during the 2025 calendar year.

Under the approved resolution, the company’s Chairman will receive an annual exit fee of $68,750 multiplied by the number of years served on the board, alongside post-retirement medical insurance coverage capped at $16,700 per year for a maximum period of five years.

For other Non-Executive Directors, the exit package specifies an annual fee of $40,500 per year of board service, coupled with annual post-retirement health insurance up to $14,500 per annum for five years.

Aradel Holdings Plc reported expansion in top-line revenue for the first half (H1) of 2026, driven by the consolidation of newly acquired upstream assets, though elevated operating costs and foreign currency translation losses significantly compressed net profit margins.

Gross revenue for the six months through June 30, 2026, surged 576.8% year-on-year to ₦2.49 trillion ($1.81 billion), up from ₦368.09 billion in H1 2025.

The revenue leap reflected the financial integration of ND Western Limited (in which Aradel increased its effective stake to 81.67%) and Renaissance Africa Energy Company (53.3% effective equity), alongside stronger realized crude oil and gas pricing.

Despite the top-line growth, net profit margin narrowed to 7.67% from 39.77% in H1 2025. Profit After Tax (PAT) expanded 30.5% to ₦191.04 billion.

However, net profit available to equity holders of the parent company rose by a more modest 6.32% to ₦153.66 billion.

The gap was driven by a sharp increase in non-controlling interest allocations, which jumped to ₦37.38 billion, making up 19.5% of PAT, from ₦1.86…