Tuesday, July 07, 2020 / 5:05 PM
/ NSE / Header Image Credit: Voice of Nigeria
The members of the above-mentioned Company at its 10th Annual General Meeting held on Tuesday, June 30, 2020 at SAHCO COMPLEX, Cargo Terminal, Murtala Muhammed International Airport Ikeja, Lagos State at 11.00a.m. proposed, and unanimously passed the following resolutions;
1. That the Audited Financial Statements for the year ended 31st December, 2019, together with the reports of the Directors, Auditors, and Audit Committee thereon submitted to the meeting be received and adopted.
2. That a dividend of 16.5 kobo per ordinary share of 50 kobo be paid on June 30, 2020 to all members whose names appeared in the Register of Members as at the close of business on June 17, 2020, subject to the deduction of the appropriate withholding tax at the time of payment, as recommended by the Board.
3. That the following directors retiring by rotation be and are hereby duly re-elected:
1. (a) Mr. Kayode Filani
2. (b) Mr. Chike Ogeah
3. (c) Dr. Olutoye Ariyo
4. That the remuneration and expenses of the Company's External Auditor, Messrs. 'Gbenga Badejo and co. be fixed by the Directors in respect of the period ending at the end of the next Annual General Meeting pursuant to section 361(1) (b) of the Companies and Allied Matters Act Cap C20, Laws of the Federation 2004 (CAMA).
5. That pursuant to Section 359 (4) and (5) of the CAMA, an Audit Committee of the Company be and is hereby appointed with effect from today, June 24, 2020 till the conclusion of the next Annual General Meeting.
The following are to constitute the membership of the Committee:
1. (a) Directors:
(1) Mr. Anogwi Anyanwu; (2) Captain S.U Iyal; (3) Dr. Olutoye Ariyo;
2. (b) Shareholder Representatives:
1. (1) Mrs. Odunuga Samiat Adebanjo
2. (2) Mr. Ismail Adamu and
3. (3) Mr. Rotimi Aina
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