LAWUNION To Hold 51st AGM on September 10, 2020; Lists Proxies

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Tuesday, July 14, 2020 / 12:30 PM / NSE / Header Image Credit: Law Union & Rock Insurance


Notice is hereby given that the 51st Annual General Meeting of Law Union & Rock Insurance PLC. will be held at the Shell Zenith Hall, MUSON Centre, Marina, Lagos on Thursday, 10th September 2020 at 10.00am to transact the following businesses:


Ordinary Business:

  1. To receive and approve the Audited Financial Statements for the year ended 31st December 2019, together with the Reports of the Directors, Auditor, and Audit Committee thereon
  2. To re-elect Directors
  3. To re-appoint Auditors and authorise Directors to fix the remuneration of the Auditors
  4. To elect the members of the Statutory Audit Committee

 

Notes:

1. Proxy

A member of the Company eligible to attend and vote at the Annual General Meeting is entitled to appoint a proxy in his/her stead. A proxy needs not be a member of the Company.

Due to the current Covid-19 pandemic, and government's directive to minimize social contacts by restricting the number of persons at public gathering and in compliance with the Corporate Affairs Commission's Guidelines on Holding of Annual General Meetings using Proxies in line with Section 230 of the Companies and Allied Matters Act Cap C20, LFN 2004, all members are hereby advised that attendance for the meeting shall only be by PROXY.

Consequently, members are advised to appoint a proxy of their choice from the list of the proposed proxies provided below to represent them at the meeting:

a.      Mr Remi Babalola - Chairman, Board of Directors

b.      Mrs Funmi Ekundayo - Independent Director

c.      Sir Sunny Nnamdi Nwosu, KSS - Shareholder

d.     Mr Boniface Okezie - Shareholder

e.      Chief Timothy Adesiyan - Shareholder


The Company has made arrangements, the cost of which the Company shall wholly bear, for the stamping of the duly completed proxy forms which must be deposited at the office of the Registrar, Cardinalstone Registrars, 358 Herbert Macaulay Way, Yaba, Lagos or by email to registrars@cardinalstone.com, not later than 48 hours before the time fixed for the meeting. A corporate body being a member of the Company is required to execute a proxy under seal.


The approval of the Corporate Affairs Commission (CAC) was sought and obtained to hold the AGM in line with the guidelines on holding of AGMS of public companies using proxies.


2. Nomination To The Audit Committee

In accordance with Section 359(5) of the Companies & Allied Matters Act, Cap C20 2004, any member may nominate a shareholder as a member of the Audit Committee by giving notice in writing of such nomination to the Company Secretary at least 21 days before the Annual General Meeting. The Security and Exchange Commission's Code of Corporate Governance mandates that members of the Audit Committee must have basic financial literacy and at least one member of the committee should be knowledgeable in accounting or financial management. Thus, a detailed Curriculum Vitae confirming the nominee's qualification should be submitted with each nomination.


3. Closure Of Register

The Register of Members and Transfer Books of the Company will be closed from 25th August 2020 to 31st August 2020 (both dates inclusive) to enable the Registrars prepare an up to date Register of Shareholders for the meeting.


4. Live Streaming Of The Annual General Meeting

The AGM will be streamed live via youtube and the Company's Website. This will enable shareholders and other stakeholders who will not be attending the meeting physically to observe the proceedings.


Please log on to www.lawunioninsurance.com for the live streaming.


5. Electronic Annual Report

The electronic version of the Annual Report will be made available online for members and the general public to view and download from our website www.lawunioninsurance.com. Shareholders who have also provided their email addresses will receive the electronic version of the Annual Report via email.


6. Declaration Of Shareholders' Right

Shareholders have the right to make relevant enquiries in connection with investment or the status of the company in general. Shareholders have the right to make their enquiries during the Annual General Meeting. Shareholders may also send their written enquiry at least five (5) business day before the date of the Annual General Meeting.


7. Unclaimed Share Certificates And Dividend Warrants

Several dividend warrants and share certificates remain unclaimed or are yet to be presented for payment or returned to the Company for revalidation. Shareholders who have not received their certificates or dividend warrants are therefore advised to contact the Company's Registrars at the address stated above.


8. Re-Election Of Directors

In accordance with the Company's Article of Association and S259(1) and (2) of the Companies and Allied Matters Act 1990, the following Directors, Mrs Funmi Ekundayo, Ms Toyin Olusanya and Mr Kunle Aluko will retire by rotation and being eligible, will be offering themselves for re-election. Their profiles and details of attendance of Board and Committee meetings are contained in the Corporate Governance Report and Report of Directors.


Special Notice

In accordance with the provisions of S252 and S256 of the Companies and Allied Matters Act 1990 (as amended), this is to give notice that Mr Kunle Aluko is 74years old.


9. Website

A copy of this Notice and other information relating to the meeting can be found at

www.lawunioninsurance.com

 

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