Meeting Date: June 24, 2024
Directors Present:
- Chairperson: Ifeoma Chuks-Adizue
- Managing Director: Udo Okonjo
- Directors: Vitus Ezinwa, Folasope Aiyesimoju, Bolarin Okunowo, Muhibat Abbas, Babs Omotowa, Debola Badejo
Key Resolutions and Actions Taken:
1. Presentation of Financial Statements:
- The Audited Financial Statements for the year ended December 31, 2023, along with the Directors', Auditors', and Audit Committee reports, were presented to the members.
2. Disclosure of Managerial Remuneration:
- The remuneration of the company's managers was disclosed in compliance with Section 257 of the Companies and Allied Matters Act (CAMA) 2020.
3. Dividend Declaration:
- A dividend of NGN 1.55 per 50 kobo ordinary share was approved for shareholders listed in the Company’s Register of Members as of May 31, 2024, subject to appropriate withholding tax deductions.
4. Director Re-elections:
- Mr. Folasope Aiyesimoju was re-elected as a director, having retired by rotation and being eligible and offering himself for re-election.
- Dr. Vitus Ezinwa was re-elected as a director under the same conditions.
5. Auditors' Remuneration:
- The Board of Directors was authorized to fix the remuneration of the Company’s External Auditors for the 2024 financial year.
6. Statutory Audit Committee Elections:
- Prince Bassey Manfred, Mrs. Samiat Adebanke Odunuga, and Mr. Anthony Kanayo Katchy were elected as members of the Statutory Audit Committee to serve alongside Mrs. Udo Okonjo and Mrs. Muhibat Abbas until the next AGM.
7. Non-Executive Directors' Remuneration:
- The remuneration of the Non-Executive Directors was fixed annually until reviewed at a general meeting.
8. Recurrent Transactions with Related Parties:
- The company was authorized through its Directors to enter into recurrent transactions with related parties or companies until reviewed at an AGM.
9. Amendment of Articles of Association:
- Article 89 of the Articles of Association of the Company was amended as specified in the Notice of the AGM.
Conclusion:
These resolutions were proposed and duly passed at the 59th AGM
Directors Present:
- Chairperson: Ifeoma Chuks-Adizue
- Managing Director: Udo Okonjo
- Directors: Vitus Ezinwa, Folasope Aiyesimoju, Bolarin Okunowo, Muhibat Abbas, Babs Omotowa, Debola Badejo
Key Resolutions and Actions Taken:
1. Presentation of Financial Statements:
- The Audited Financial Statements for the year ended December 31, 2023, along with the Directors', Auditors', and Audit Committee reports, were presented to the members.
2. Disclosure of Managerial Remuneration:
- The remuneration of the company's managers was disclosed in compliance with Section 257 of the Companies and Allied Matters Act (CAMA) 2020.
3. Dividend Declaration:
- A dividend of NGN 1.55 per 50 kobo ordinary share was approved for shareholders listed in the Company’s Register of Members as of May 31, 2024, subject to appropriate withholding tax deductions.
4. Director Re-elections:
- Mr. Folasope Aiyesimoju was re-elected as a director, having retired by rotation and being eligible and offering himself for re-election.
- Dr. Vitus Ezinwa was re-elected as a director under the same conditions.
5. Auditors' Remuneration:
- The Board of Directors was authorized to fix the remuneration of the Company’s External Auditors for the 2024 financial year.
6. Statutory Audit Committee Elections:
- Prince Bassey Manfred, Mrs. Samiat Adebanke Odunuga, and Mr. Anthony Kanayo Katchy were elected as members of the Statutory Audit Committee to serve alongside Mrs. Udo Okonjo and Mrs. Muhibat Abbas until the next AGM.
7. Non-Executive Directors' Remuneration:
- The remuneration of the Non-Executive Directors was fixed annually until reviewed at a general meeting.
8. Recurrent Transactions with Related Parties:
- The company was authorized through its Directors to enter into recurrent transactions with related parties or companies until reviewed at an AGM.
9. Amendment of Articles of Association:
- Article 89 of the Articles of Association of the Company was amended as specified in the Notice of the AGM.
Conclusion:
These resolutions were proposed and duly passed at the 59th AGM