Monday, June 15, 2020 / 04:35 PM / NSE / Header Image Credit: Dangote Sugar
Notice is hereby given that the 14th Annual General Meeting of DANGOTE SUGAR REFINERY PLC will be held at 11a.m prompt on Thursday, July 9, 2020 at Ademola Street, Victoria Island, Lagos to conduct the following business:
Only members (shareholders) of the Company entitled to attend and vote at the Annual General Meeting can appoint proxies to vote in their stead.
In the interest of public safety, and having regard to the Nigerian Centre for Disease Control (NCDC) COVID-19 Guidance for Safe Mass Gatherings in Nigeria, the guidelines of the Corporate Affairs Commission (CAC) on holding Annual General Meetings and the restrictions on public gatherings by the Lagos State Government, Dangote Sugar Refinery Plc. will conduct its 14th Annual General Meeting by proxy only and limited to the maximum number of persons allowed in a gathering.
Approval of the Corporate Affairs Commission
The approval of the Corporate Affairs Commission (CAC) was sought and obtained to hold the AGM in line with the guidelines on holding of AGMs of public companies using proxies.
Accordingly, members entitled to vote are requested to appoint a proxy of their choice from the list of nominated proxies below to represent them at the Meeting: (A blank Proxy Form is attached to the Annual Report)
i. Aliko Dangote, GCON
i. Mr. Olakunle Alake
iii. Ms. Bennedikter Molokwu
iv. Sir Sunny Nwosu
v. Mr. Nornah Awoh
vi. Mrs. Bisi Bakare
vil. Dr. Farouk Umar
Each member is to appoint a proxy by ticking the relevant box in the Proxy Form attached hereto to indicate how his/her vote is to be cast for each proposed resolution on the agenda. The duly executed Proxy Form should be deposited at the office of the Company's Registrars, Veritas Registrars Limited, Plot 89A, Ajose Adeogun street, Victoria Island, Lagos as shown on the Proxy Form, or sent to the Registrars by email to firstname.lastname@example.org not later than 48 hours before the time appointed for the Meeting.
The Company has made arrangements at its cost, for the stamping of the duly completed and signed proxy forms submitted to the Company's Registrars within the stipulated time.
Viewing of the Proceedings of the Meeting
The Meeting will be streamed live online to enable shareholders and other stakeholders who will not be attending physically to follow the proceedings. The link for the live streaming of the Meeting will be made available on the Company's website at www.dangotesugar.com.ng
Closure of Register
The Register of members will be closed on June 22, 2020 for the purpose of updating the Register of Members and for the Registrars to prepare for payment of dividend.
If the dividend recommended by the Directors is approved by members at the Annual General Meeting, the dividend will be credited within 48hours of the meeting to mandated accounts of members so entitled whose names appear in the Register of Members as at the close of business on June 19, 2020.
Shareholders who have not already done so are please requested to furnish the Registrars with the details of their bank accounts to enable direct crediting of dividend warrants into the shareholder's bank account. A detachable application form for e-Dividend is attached to the Annual Report for use and the service is available to all shareholders free of charge.
Unclaimed Share Certificates and Dividend Warrants
All shareholders are hereby informed that the Registrars of the Company are holding Share Certificates and Dividend Warrants which have been returned by the Post Office as 'unclaimed'. Some Dividend Warrants sent to shareholders registered addresses are yet to be presented for payment or returned to the Registrars for validation.
A schedule of the members who are yet to claim their dividends will be circulated to shareholders along with the Annual Report & Financial Statements.
Statutory Audit Committee
In accordance with Section 359 (5) of the Companies & Allied Matters Act Cap C20, Laws of the Federation of Nigeria 2004, any shareholder may nominate a shareholder for appointment to the Audit Committee. Such nomination should be in writing and reach the Company Secretary not later than 21 days before the Annual General Meeting.
The Code of Corporate Governance issued by the Securities and Exchange Commission stipulates that members of Audit Committee should have basic financial literacy and should be able to read financial statement. Thus, a detailed Curriculum Vitae confirming the nominee's qualification should be submitted with each nomination.
Re-election and Election of Directors
In accordance with Article 62(b) & (c) of the Company's Articles of Association, the Directors retiring by rotation are Prof. Konyinsola Ajayi, SAN, Mr. Olakunle Alake and Ms. Maryam Bashir, and being eligible, offer themselves for re-election.
The appointment of Mr. Ravindra Singhvi as Director will also be presented to shareholders for approval.
The profile of all Directors is provided in the Annual report and the Company's website.
Rights of Securities Holders to Ask Questions
Shareholders and other holders of the Company's securities reserve the right to ask questions not only at the meeting, but also in writing prior to the meeting, and such questions should be submitted to the Company not later than seven (7) days to the date of the meeting.
Shareholders who wish to receive only the electronic version of the Company's Annual Report are please requested to complete the detachable Form inserted in the Annual Report and return same to the Registrars.
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