Monday, May 27, 2019 04:25PM / NSE
Notice is hereby given that the 49th Annual General Meeting Of NEM Insurance Plc (the “Company’) will hold at the Federal Palace Hotel, Ahmadu Bello Way, Victoria Island, Lagos on the 25th of June 2019 at 11.00a.m to transact the following business:
I. A member entitled to attend and vote is entitled to appoint a proxy to attend and vote instead of him/her. A proxy need not be a member of the Company. A form of proxy is attached to the last page of this report.
II. If the proxy form is to be valid for the purposes of this meeting, it must be completed, detached and deposited at the office of the Registrar, Apel Capital & Trust Limited 8, Alhaji Bashorun Street Off Norman Williams Crescent South-West Ikoyi Lagos not less than 48 hours before the time of the meeting.
II. CLOSURE OF THE REGISTER OF MEMBERS
The Register of Members and Transfer Books of the Company will be closed from June 3rd to June 7th 2019 both dates inclusive for the purpose of updating our register of members. Accordingly dividends will only be paid to Shareholders whose names are on the Register before the date of closure. Payment date is June 25, 2019.
III. UNCLAIMED DIVIDEND WARRANTS
Some dividend warrants have remained unclaimed, or are yet to be presented for payment or are in need of revalidation. Affected Shareholders are advised to contact the Registrar, Apel Capital & Trust Limited 8, Alhaji Bashorun Street off Norman Williams Crescent South-West Ikoyi Lagos on this.
IV. DIVIDEND PAYMENT
If the proposed dividend of 13 kobo per ordinary share of 50 kobo each as recommended by the Directors is approved by members at the Annual General Meeting, e-dividends will be paid to Shareholders’ accounts in accordance with the directive of the Securities and Exchange Commission on Tuesday June 25th 2019 to the shareholders whose names appear in the Register of Members at the close of business on Friday May 31st 2019.
V. STATUTORY AUDIT COMMITTEE
In accordance with Section 359(5) of the Act, a Shareholder may nominate another Shareholder for appointment to the Audit Committee. Such nomination should be in writing and must reach the Company Secretary not less than twenty one (21) days before the Annual General Meeting.
Kindly note that the Code of Corporate Governance issued by the Securities and Exchange Commission (SEC) and the National Insurance Commission (NAICOM) respectively indicate that members of the Audit Committee should have basic financial literacy and should be able to read Financial Statements.
In view of the above, we request that nominations to the Audit Committee should be accompanied by copies of nominees’ Curriculum Vitae.
VI. RE-ELECTION OF DIRECTORS
In accordance with the Articles of Association of the Company, Mrs. Yinka Aletor and Dr. Fidelis Ayebae will retire by rotation and being eligible offer themselves for re- election. Their profiles are contained in the Annual Report and also on the Company's website.
VII. RIGHT OF SHAREHOLDERS TO ASK QUESTIONS
Pursuant to Rule 19.12 (c) of the Nigerian Stock Exchange's Rulebook 2015, it is the right of every Shareholder to ask questions not only at the meeting but also in writing prior to the meeting. We urge that such questions be submitted to the Company Secretary at 199, Ikorodu Road, Obanikoro not later than two (2) weeks before the date of the meeting
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Graph 1: NEM Insurance Plc – One Year Share Price Movement
Table: Unaudited Q1 2019 Results