September 15, 2011 / Abuja
Just as we predicted in our Sunday, August 14, 2011 market update Transcorp Plc has appointed Mr. Tony Elumelu, MFR as the new Chairman of the Board of Directors for the company at its Annual General Meeting (AGM) holding today.
A tweet alert sent through our investment community page from MBC confirmed that the former Chairman, Prof. (Mrs.) Ndi Okereke-Onyuike did not put herself up for re-election in order to hand over the baton to the new board. This orderly transition in the company is considered an additional indication that the company’s transition is on proper footing.
Other Highlights of the Meeting:
1.Otunba Funsho Lawal, chairman of Transcorp Hilton Abuja has just announced his resignation from parent company.
2.Transcorp plc says land ownership dispute of Transcorp Hilton Abuja has been resolved.
3.Transcorp Hilton Abuja to build an annex to existing structure to house new edifice for VIPs.
4.Shareholders to begin to get dividends in 2012.
5. Only two pioneer Directors of Transcorp plc remain on board since inception some six years ago.
6.Chairman of Transcorp says the controversial 1bn naira bank loan under former CEO, Tom Iseghohi has been resolved.
7. Metropolitan Hotel, Calabar was purchased via part loan from UBA, to be repaid soon.
For further details – log on to the Proshare Investment Community for updates