Details of Resolutions Passed at the 55th Annual General Meeting of Royal Exchange Plc
Date of Notification: November 14, 2024
Meeting Type: 55th Annual General Meeting (Held virtually)
Time: 10:00 AM
Resolutions Passed
1. Approval of Audited Financial Statements
• The Audited Financial Statements for the financial year ended December 31, 2023, were presented to shareholders.
• The reports of the Directors, the Audit Committee, and the External Auditors were also reviewed and approved by the shareholders.
2. Re-election of Directors
• Directors Retiring by Rotation:
• Mr. Kenny Ezenwani Odogwu
• Chief (Sir) Anthony Idigbe (SAN)
• Both directors, having offered themselves for re-election, were duly re-elected as members of the Board.
3. Re-appointment of External Auditors
• The firm of Grant Thornton LLP was re-appointed as the External Auditors for the financial year ending December 31, 2024.
• Their tenure will last until the conclusion of the next Annual General Meeting.
4. Authorization for Auditors’ Remuneration
• The Board of Directors was authorized to fix the remuneration of the External Auditors for the year ending December 31, 2024.
5. Disclosure of Managers’ Remuneration
• The remuneration of the company’s managers, as disclosed in the annual report, was noted by the shareholders.
6. Election of Members to the Statutory Audit Committee
• The following individuals were elected as Shareholders’ Members of the Statutory Audit Committee:
a. Olawuyi Tajudeen Alabi
b. Bekunmi Akinsolu
c. Prince Adekunle Olodun
• The following individuals were appointed as Non-Executive Directors’ Members of the Statutory Audit Committee:
a. Chief (Sir) Anthony Idigbe (SAN)
b. Mr. Adeyinka Ojora
Contact Information:
• Address: New Africa House, 31 Marina, P.O. Box 112, Lagos
Date of Notification: November 14, 2024
Meeting Type: 55th Annual General Meeting (Held virtually)
Time: 10:00 AM
Resolutions Passed
1. Approval of Audited Financial Statements
• The Audited Financial Statements for the financial year ended December 31, 2023, were presented to shareholders.
• The reports of the Directors, the Audit Committee, and the External Auditors were also reviewed and approved by the shareholders.
2. Re-election of Directors
• Directors Retiring by Rotation:
• Mr. Kenny Ezenwani Odogwu
• Chief (Sir) Anthony Idigbe (SAN)
• Both directors, having offered themselves for re-election, were duly re-elected as members of the Board.
3. Re-appointment of External Auditors
• The firm of Grant Thornton LLP was re-appointed as the External Auditors for the financial year ending December 31, 2024.
• Their tenure will last until the conclusion of the next Annual General Meeting.
4. Authorization for Auditors’ Remuneration
• The Board of Directors was authorized to fix the remuneration of the External Auditors for the year ending December 31, 2024.
5. Disclosure of Managers’ Remuneration
• The remuneration of the company’s managers, as disclosed in the annual report, was noted by the shareholders.
6. Election of Members to the Statutory Audit Committee
• The following individuals were elected as Shareholders’ Members of the Statutory Audit Committee:
a. Olawuyi Tajudeen Alabi
b. Bekunmi Akinsolu
c. Prince Adekunle Olodun
• The following individuals were appointed as Non-Executive Directors’ Members of the Statutory Audit Committee:
a. Chief (Sir) Anthony Idigbe (SAN)
b. Mr. Adeyinka Ojora
Contact Information:
• Address: New Africa House, 31 Marina, P.O. Box 112, Lagos