RESOLUTIONS PASSED AT UAC OF NIGERIA'S ANNUAL GENERAL MEETING ON JUNE 20, 2024
At the Annual General Meeting (AGM) of UAC of Nigeria PLC held on June 20, 2024, at Festival Hotel, Diamond Estate, Amuwo Odofin, Lagos, the following resolutions were passed in respect to the 2023 financial year:
A. Presentation of Financial Statements:
- The Chairman of the Board laid the Audited Financial Statements for the year ended December 31, 2023, along with the Report of the Directors, Auditors, and the Audit Committee before the shareholders.
B. Managerial Remuneration:
- The remuneration of the company's managers was presented and noted by the shareholders.
Resolutions Passed:
1. Dividend Payment:
- A dividend of 22 kobo per ordinary share of 50 kobo will be paid to all shareholders on the Company's Register of Members as of June 6, 2024, subject to withholding tax.
2. Re-election of Directors:
- Mr. Bolaji Odunsi, retiring by rotation and eligible for re-election, was re-elected.
- Mr. Khalifa Biobaku, retiring by rotation and eligible for re-election, was re-elected.
3. Election of New Director:
- Mr. Adebolanle Badejo was elected as a director of the Company.
4. Remuneration of External Auditors:
- The Directors were authorized to fix the remuneration of the Company’s External Auditors for the 2024 financial year.
5. Election to the Statutory Audit Committee:
- The following shareholders were elected as members of the Statutory Audit Committee:
- Mr. Olabisi Fayombo
- Mr. Matthew Akinlade
- Mr. Nwosu Nnabike Kenneth
- The following Directors were nominated to represent the Board on the Statutory Audit Committee:
- Mr. Bolaji Odunsi
- Mr. Khalifa Biobaku
6. Directors' Remuneration:
- The remuneration of Directors for the financial year ending December 31, 2024, was fixed.
7. General Mandate for Related Party Transactions:
- A general mandate was given authorizing the Directors to enter into recurrent transactions with related parties or companies until reviewed at the next AGM.
8. Amendment to the Memorandum and Articles of Association:
- The Memorandum and Articles of Association of the Company were amended as indicated in Annexure 1 to the AGM Notice. The Directors were authorized to take all necessary steps and actions to implement this resolution.
By Order of the Board.
At the Annual General Meeting (AGM) of UAC of Nigeria PLC held on June 20, 2024, at Festival Hotel, Diamond Estate, Amuwo Odofin, Lagos, the following resolutions were passed in respect to the 2023 financial year:
A. Presentation of Financial Statements:
- The Chairman of the Board laid the Audited Financial Statements for the year ended December 31, 2023, along with the Report of the Directors, Auditors, and the Audit Committee before the shareholders.
B. Managerial Remuneration:
- The remuneration of the company's managers was presented and noted by the shareholders.
Resolutions Passed:
1. Dividend Payment:
- A dividend of 22 kobo per ordinary share of 50 kobo will be paid to all shareholders on the Company's Register of Members as of June 6, 2024, subject to withholding tax.
2. Re-election of Directors:
- Mr. Bolaji Odunsi, retiring by rotation and eligible for re-election, was re-elected.
- Mr. Khalifa Biobaku, retiring by rotation and eligible for re-election, was re-elected.
3. Election of New Director:
- Mr. Adebolanle Badejo was elected as a director of the Company.
4. Remuneration of External Auditors:
- The Directors were authorized to fix the remuneration of the Company’s External Auditors for the 2024 financial year.
5. Election to the Statutory Audit Committee:
- The following shareholders were elected as members of the Statutory Audit Committee:
- Mr. Olabisi Fayombo
- Mr. Matthew Akinlade
- Mr. Nwosu Nnabike Kenneth
- The following Directors were nominated to represent the Board on the Statutory Audit Committee:
- Mr. Bolaji Odunsi
- Mr. Khalifa Biobaku
6. Directors' Remuneration:
- The remuneration of Directors for the financial year ending December 31, 2024, was fixed.
7. General Mandate for Related Party Transactions:
- A general mandate was given authorizing the Directors to enter into recurrent transactions with related parties or companies until reviewed at the next AGM.
8. Amendment to the Memorandum and Articles of Association:
- The Memorandum and Articles of Association of the Company were amended as indicated in Annexure 1 to the AGM Notice. The Directors were authorized to take all necessary steps and actions to implement this resolution.
By Order of the Board.