We refer to the publication of our Audited Financial Statements and the Notice of Annual General Meeting (AGM) scheduled to hold on Tuesday, April 28, 2020 at 11.00 am.
Your Company notes the outbreak of the COVID-19 pandemic in the country and the partial lockdown of some states as announced by the Federal Government and some State Governments, towards securing their borders and preventing the further spread of the Coronavirus, which would be intensified by public gatherings.
We are also mindful of the legal framework and corporate actions predicated on the AGM, such as payment of dividend to shareholders, approval of audited accounts and filing of the Company's annual returns, ratification of the retirement of and appointment of Directors as well as the appointment of new Auditors in line with the Central Bank of Nigeria requirements.
Therefore, towards ensuring that these actions do not remain stalled as would be the case if the AGM is postponed or cancelled, we engaged the Corporate Affairs Commission (CAC) and have obtained their approval to hold the AGM with attendance by proxies.
Related Link: COVID-19 and AGM by Proxy: Lessons from GTBank Approach
To this end, Shareholders are encouraged to send duly completed proxy form(s) indicating how you wish to vote on each of the Resolutions noted therein, to the Registrars Cardinalstone Registrars Limited, 358 Herbert Macaulay Way, Yaba Lagos or via e-mail to firstname.lastname@example.org, not less than 48 hours before the time fixed for the meeting.
Kindly note that this option is being adopted in line with the provision of section 230 of the Companies and Allied Matters Act (CAMA) on the use of proxies with the understanding that the quorum for an AGM can be achieved either through physical attendance or by proxy.
This measure is also to
ensure that the operations of the Company continue to run within the laid down
compliance and regulatory frameworks irrespective of the current circumstances.
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