Resolutions Passed at Guinea Insurance PLC’s 66th Annual General Meeting
Key Highlights from the Meeting:
1. Approval of Audited Financial Statements:
The audited financial statements for Guinea Insurance PLC for the fiscal year ending December 31, 2023, were approved, along with the directors’ and audit committee’s reports.
2. Director Re-election:
The following directors were re-elected following their rotation:
• Mr. Simon Bolaji
• Mr. Alhaji Hassan Dantata
• Mr. Chukwuemeka Uzoukwu
3. New Director Appointments:
The meeting approved the appointments of:
• Mrs. Ogonna Offor Orabueze as Executive Director, Technical
• Mrs. Chioma Okigbo as Independent Non-Executive Director
4. Disclosure of Managerial Remuneration:
The remuneration of the company’s managers was disclosed on page 130 of the Annual Report and Accounts.
5. Appointment of External Auditors:
The appointment of BDO Professional Services as the company’s external auditors was ratified, with authorization for the directors to determine their remuneration.
6. Audit Committee Re-election:
Mr. Ayuba Quadri Yemi, Mr. Sonibare Waheed Akanni, and Mr. Peter Mgbeahuru were re-elected as shareholders’ representatives on the Audit Committee. Mr. Simon Bolaji and Mr. Samuel Onukwue were appointed to represent the Board.
7. Increase in Director Remuneration:
The remuneration for Non-Executive Directors was increased from N1,000,000 to N4,000,000 annually. The Board Chairman’s salary was raised from N1,200,000 to N5,000,000 per annum.
8. Appointment of Board Evaluation Consultant:
The firm Crest and Waterfall Consultants Limited was appointed as the Board Evaluation Consultant.
9. Related Party Transactions Mandate:
Guinea Insurance PLC was granted a general mandate to engage in transactions with related parties for its daily operations, including procurement of goods and services on normal commercial terms.
These resolutions mark important decisions for Guinea Insurance PLC’s governance and operational direction, impacting both management structure and compensation.
Key Highlights from the Meeting:
1. Approval of Audited Financial Statements:
The audited financial statements for Guinea Insurance PLC for the fiscal year ending December 31, 2023, were approved, along with the directors’ and audit committee’s reports.
2. Director Re-election:
The following directors were re-elected following their rotation:
• Mr. Simon Bolaji
• Mr. Alhaji Hassan Dantata
• Mr. Chukwuemeka Uzoukwu
3. New Director Appointments:
The meeting approved the appointments of:
• Mrs. Ogonna Offor Orabueze as Executive Director, Technical
• Mrs. Chioma Okigbo as Independent Non-Executive Director
4. Disclosure of Managerial Remuneration:
The remuneration of the company’s managers was disclosed on page 130 of the Annual Report and Accounts.
5. Appointment of External Auditors:
The appointment of BDO Professional Services as the company’s external auditors was ratified, with authorization for the directors to determine their remuneration.
6. Audit Committee Re-election:
Mr. Ayuba Quadri Yemi, Mr. Sonibare Waheed Akanni, and Mr. Peter Mgbeahuru were re-elected as shareholders’ representatives on the Audit Committee. Mr. Simon Bolaji and Mr. Samuel Onukwue were appointed to represent the Board.
7. Increase in Director Remuneration:
The remuneration for Non-Executive Directors was increased from N1,000,000 to N4,000,000 annually. The Board Chairman’s salary was raised from N1,200,000 to N5,000,000 per annum.
8. Appointment of Board Evaluation Consultant:
The firm Crest and Waterfall Consultants Limited was appointed as the Board Evaluation Consultant.
9. Related Party Transactions Mandate:
Guinea Insurance PLC was granted a general mandate to engage in transactions with related parties for its daily operations, including procurement of goods and services on normal commercial terms.
These resolutions mark important decisions for Guinea Insurance PLC’s governance and operational direction, impacting both management structure and compensation.