ABCTRANS Notifies of Resolutions Passed at its 27th AGM

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Thursday, December 3, 2020 / 5:12 PM / NSE / Header Image Credit: ABC Transport


The public is hereby notified that the shareholders of ABC Transport Plc at the 27th Annual General Meeting of the Company held on Friday, 27th November 2020, duly passed the following resolutions:

 

1.    "That the Audited Financial Statements tor the year ended December 31, 2019, together with the reports of the Directors, Auditors and Audit Committee thereon be received.

2.   "That Alhaji Kabiru Yusuf and Mr. John Okoro be and are hereby re-elected as directors of the Company.

3.     "That the following four (4) persons be and are hereby elected as members of the Statutory Audit Committee of the Company:

i) Mr. Jude Nneji

ii) Alhaji Kabiru Yusuf

iii) Mr. Eke Chibuzor Emmanuel

iv) Mr. Okpala Jude Udechukwu.


4.  That the Directors be and are hereby authorized to tix the remuneration of the Company's auditors, PKI' Professional Services.

5. "That the Authorized Share Capital of the Company be and is hereby increased from N1,000,000,000.00 to N2,500,000,000.00 by the creation of 3,000,000,000 additional ordinary shares of 50 Kobo each, ranking pari-passu in all respects with the existing shares in the Company's equity.

6.   That the Directors are hereby authorized to raise N1,400,000,000.00 (One Billion Four Hundred Million Naira) additional capital for the Company through rights issue and bond from existing shareholders and the open market, upon such terms and conditions that the Directors may deem fit in the interest of the Company, subject to obtaining the approvals of relevant regulatory authorities.

7.  That clause 6 of the Company's Memorandum of Association and clause 5 0f the Articles of Association respectively be amended to reflect the increase in the Authorised Share Capital by deleting the words "the Authorised Share Capital of the Company is N1,000,000,000.00 (One Billion Naira) divided into 2,000,000,000 ordinary shares of 50 Kobo each" and substituting therewith the words "the Authorised Share Capital of the Company 1s N2,500,000,000.00 (Two Billion Five Hundred Million Naira) divided into 5,000,000,000 ordinary shares of 50 Kobo each". 

 

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