CONOIL To Hold 50th AGM on October 23, 2020; Lists Proxies

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Monday, October 5, 2020 / 2:58 PM / NSE/ Header Image Credit: Conoil Plc


Notice is hereby given that the 50th Annual General Meeting of the members of CONOIL PLC will be held at BWC Hotels, Victoria Island, Lagos on Friday, 23 October, 2020 at 11.00 am to transact the following business:

 

Ordinary Business

1.      To receive the Report of the Directors and the Statement of Financial position as at 31 December, 2019 together with the Statement of Profit or Loss and Other Comprehensive Income for the year ended on that day and the Reports of the Auditors and the statutory Audit Committee thereon.

2.      To declare a dividend.

3.      To elect and re-elect Directors.

4.      To authorize the Directors to fix the remuneration of the External Auditors for the ensuing year.

5.      To elect/re-elect the members of the Statutory Audit Committee.


Special Business

6.      To fix the remuneration of the Directors.

 

Notes: Relevant documents in the connection with the Meeting are available to all shareholders from the date of this notice on the Company's website www.conoilpic.com

 

1. Proxy

Due to the safety challenges posed by the COVID-19 pandemic, public safety, the Government directive on the restriction of large gathering and social distancing, the Company has under the guidelines issued by the Corporate Affairs Commission (CAC), obtained the approval of CAC to hold the Annual General Meeting by proxy. Members are hereby informed that the Annual General Meeting shall only be held by proxy in line with the said guidelines.

 

Members of the Company, entitled to attend and vote, are entitled to appoint proxies to attend and vote in their stead. A proxy need not also be a member of the Company. A Proxy Form is provided with the Annual Report and Financial Statement. To be valid for the purpose of the meeting, the form must be completed and deposited at the office of the Registrars, Meristem Registrars Limited, not later than 48 hours before the time appointed to hold the meeting.

 

The proceedings of the meeting shall also be streamed live.

 

2. Nominated Proxies

In view of the above, Members entitled to vote are advised to appoint any of the under listed proxies to attend and vote in their stead:

I.          Dr. Moses Ebi Omatsola

II.        Mr. Joshua Ariyo

III.      Mr. Ismail Salam

IV.       Sir Sunny Nwosu

V.        Chief Timothy Adesiyan

VI.       Mr. Eric Akinduro

VII.     Mr. Godwin Ede

VIII.    Mrs. Esther Augustine

IX.       Mrs. Adebisi Bakare

X.        Mr. Oladepo Adesina (to represent the Statutory Audit Committee)

 

Each Member is to appoint a Proxy by ticking the relevant box in the Proxy Form to indicate how his/her vote is to be cast for each proposed resolution on the agenda.

For the appointment to be valid, a completed and duly stamped proxy form by the Commissioner of Stamp Duties must be deposited at the office of the Registrar, Meristem Registrars Limited, 213 Herbert Macaulay Way, Adekunle, Yaba, Lagos, or submitted via their email address:

injo@meristemregistrars.com not less than 48 hours before the time fixed for the meeting. The cost of stamping the proxy forms shall be borne by the Company.

 

3. Dividend

The Board recommends a dividend of N2.00 per ordinary share of 50 kobo each.

It the dividend recommended by the Directors is approved at the Annual General Meeting, the dividend warrants will be posted on Friday, 30th October 2020 to members whose names appear in the Register of Members at the close of business on Monday, 13 July, 2020. Shareholders who have completed the e-mandate Activation Forms will receive a direct credit of the dividend into their bank accounts on the payment date.

 

4. Appointment of Members Of The Statutory Audit Committee

The Statutory Audit Committee consists of 3 shareholders and 3 Directors in accordance with the Companies and Allied Matters Act. Any member may nominate a shareholder as a member of the Audit Committee by giving in writing, notice of such nomination at least 21 days before the date of the Annual General Meeting. Nominees to the Statutory Audit Committee must be compliant with the laws, rules and regulations guiding listed companies in Nigeria. Accordingly, we would therefore, request that the nominations be accompanied by a copy of the nominees' curriculum vitae.

 

5. Right of Shareholders to Ask Questions

Shareholders have a right to ask questions not only at the meeting but also in writing prior to the meeting and such questions must be submitted to the Company Secretary on or before 9 October, 2020.

 

6. Unclaimed Dividend Warrants and Share Certificates

Shareholders are hereby informed that some dividend warrants have been returned to the Registrars as unclaimed while some have neither been presented to the Banks for payment nor to the Registrars for revalidation. A list of such unclaimed dividends will be circulated with the Annual Reports and Financial Statements for the year ended 31 December, 2019. Those who are affected are advised to write to the Company's Registrars - Meristem Registrars Limited, P.O. Box 51585, Falomo, Ikoyi, Lagos or visit the Registrar's office at 213 Herbert Macaulay Way, Adekunle, Yaba, Lagos.

 

7. Closure of Register

The Register of Members and the Transfer Books of the Company will be closed from Tuesday, 14th - Friday, 17th July, 2020 both days inclusive, to enable the preparation and payment of dividends.

 

8. E-Dividend Mandate

Pursuant to the directive of the Securities and Exchange Commission, Shareholders are hereby advised to open bank accounts, stockbroking and CSCS accounts for the purpose of timely receipt of dividend payments. A detachable e-dividend mandate activation form is attached to the Annual Report and also available at the office of the Registrars to enable all shareholders furnish the particulars of their bank accounts / CSCS details to the Registrars as soon as possible.

 

Further, all unregistered investors/members for E-Dividend payment are advised to take advantage of the Securities and Exchange Commission's Unclaimed Dividend Retrieval Process by searching for their unclaimed dividend and downloading the e-mandate forms at http://www.sec.gov.ng/non-mandated/. Downloaded forms should be filled and submitted through the Bank or Registrar. Forms can also be downloaded from the Registrar's website - www.meristemregistrars.com.

 

9. e-REPORT

The Company's Annual Report and Accounts are available online for viewing and downloading from our website at www.conoilplc.com.

 

10. Viewing of The Proceedings of The Meeting

The Annual General Meeting will be streamed live online to enable Shareholders and other Stakeholders who will not be attending physically to follow the proceedings. The link for the live streaming of the meeting will be communicated to Shareholders and other Stakeholders: and will be made available on the Company's website at www.conoilplc.com. 


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