Sunday, May 10, 2020 / 1:52 PM / CSCS / Header Image Credit: CSCS
Central Securities Clearing System (CSCS) Plc has announced that it will hold its 26th Annual General Meeting (AGM) by proxy on the 14th Floor of The Nigerian Stock Exchange Building, Lagos on Friday 22 May 2020 by 10:00 am, Central African Time (CAT).
The Company obtained the following approval from the Corporate Affairs Commission (CAC) as stipulated in the Commission's Guidelines on holding of Annual General Meetings (AGMs) of Companies using Proxies.
According to the Group Company Secretary, Mr. Charles Ojo, the AGM will be done "in accordance with the guidelines issued by the Corporate Affairs Commission (CAC) on the conduct of Annual General Meetings via proxies in Nigeria as part of the measures to mitigate the negative effect created by the current Coronavirus (COVID-19) pandemic.
CSCS requests every member who is entitled to attend and vote at the company's 26th Annual General Meeting to appoint a proxy from the list of designated individuals to attend and vote in his or her stead. Attendance of the Annual General Meeting shall be by proxy only".
Mr. Ojo further explained that "a proxy needs not to be a member of the company. Electronic copies of proxy forms will be received via e-mail to designated contacts as specified in the Notice of Meeting not less than 48 hours before the time fixed for the meeting".
During the AGM, CSCS will transact ordinary business such as to receive and consider the company's audited financial statements for the year ended December 31, 2019, and the Reports of the Directors, Auditors and Statutory Audit Committee; declare a final dividend; elect/re-elect Directors; authorize the Directors to fix the remuneration of the Auditors amongst other businesses.
The adoption of a proxy AGM is in line with the CSCS' commitment to contain the spread of Coronavirus by adopting all the necessary safety measures such as maintaining social distancing, constant hand washing, use of sanitizers amongst, other measures to curb the spread of the virus.
The Central Securities Clearing System (CSCS) is a Public Limited Company, with a diversified shareholder base, including the Nigerian Stock Exchange, some of the largest banks in Nigeria, private equity firms, investment banks and other corporate and individual shareholders. With over two decades of operation, serving as the Central Securities Depository for the Nigerian capital market, CSCS has been pivotal to the growth and transformation of the capital market, including its audacious full dematerialization of share certificates and the shortening of settlement cycle in the capital market.
CSCS serves as the central depository for equities, commercial papers, corporate bonds, sub-national bonds, certain sovereign bonds, equity-traded funds, real estate investment trusts, mutual funds and commodities. CSCS is licensed and regulated by the Securities and Exchange Commission (SEC). The activities of CSCS are governed by the Investment and Securities Act 2007, the Companies and Allied Matters Act 2004, and the SEC Rules.
Leveraging on digital technologies, CSCS serves its participants, institutional and retails investors through varying channels, including its web portal; www.cscs.ng; online and mobile applications, web chatbot, Data Exchange platforms, customer service call centre; 070 CALL CSCS â€“ 070022552727 or 01 448 0500 amongst others.