CHAMS Notifies of Resolutions Passed At Its 36th AGM

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Friday, July 24, 2020 / 11:07 AM / NSE / Header Image Credit: Youtube; chams plc


The members of Chams Plc, at its 36th Annual General Meeting held at 10:00am on July 16, 2020 at the Function Room, Muson Center, Onikan, Lagos, proposed and passed the following resolutions.


Ordinary Business

1.   That the Audited Financial Statements for the year ended December 31, 2019, the Reports of the Directors, Auditors and Statutory Audit Committee thereon submitted to the meeting be received and adopted.

2.      That the following Directors be and are hereby duly elected:

i.                    Mr. Tomiwa Aladekomo

ii.                 Mr Gavin Young.

3.      That the following Directors retiring by rotation be and are hereby duly re-elected:

i.                    Pastor Ituah Ighodalo

ii.                 Prof. Oyewusi Ibidapo-Obe

4.   That the Directors of the Company be and are hereby authorised to fix the remuneration of the Auditors (BDO Professional Services) for the year ending December 31, 2020.

5.   That pursuant to Section 359(5) of the Companies and Allied Matters Act 1990, the following are hereby appointed as members of the Audit Committee of the Company until the completion of the Company's next Annual General Meeting.

            1. Dr. Evans Woherem

            2. Pastor Ituah Ighodalo

            3. Mr. Tomiwa Aladekomo

            4. Mr. Emmanuel Ogochukwuka Onochie

            5. Mr. Adedoyin Owolabi

            6. Mr. Moses O. Igbrude

 

6.      That the annual remuneration payable to each of the directors of the Company for the year ending 31st December 2019 be and is hereby fixed as follows:


1. That the annual remuneration of a Non-Executive Director (except Chairman) is =N=2,000,000.

2.      That the Chairman's annual remuneration is =N=2,500,000.

7.   That the Directors be and are hereby authorized to raise capital of N500,000,000 (Five Hundred Million Naira) by way of a Rights Issue of ordinary shares to its shareholders ("Rights Issue") and that the Rights Issue be executed at such price, time, for such period and on such other terms and conditions as the Directors may deem fit.

8.  That the Company be and is hereby authorized to issue shares below per value of 50kobo at a discount not exceeding 50% below par value for the purpose of due consideration of the price of the company's shares on the Floor of the Nigerian Stock Exchange.

9.  That the company be and is hereby authorised to convert any convertible loan stocks raised to equity by way of debt-equity conversion or through any of the mode of equity issuances approved herein upon such terms and conditions as agreed in the Loan Conversion Agreement.

 

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