Tuesday, August 11, 2020 / 10:01 AM / NSE / Header Image Credit: Presco Plc
Notice is hereby given that the 27th Annual General Meeting of Presco Plc will be held at The Dura Club, Obaretin Estate, Km. 22, Benin/Sapele Road, Ikpoba-Okha LGA, Edo State, Nigeria on Wednesday, September 2, 2020 at 12:00 noon to transact the following business:
(Attendance is by Proxy)
1. To lay before the meeting the audited accounts of the Company for the year ended December 31, 2019 together with the reports of the Directors, Auditors and Statutory Audit Committee thereon.
2. To declare a dividend.
3. To re-elect the following Directors whose profile and CV can be found in the company's website who retired by rotation and being eligible offered themselves for re- election: (i) Mr. Osa Osunde, ( ii ) HRH Prince Aiguobasinmwin Ogie Akenzua, (iii) Mr. William Kenneth Crockett
4. To elect Mr. Gerald Royle Ray, Mr. Paul Cardoen and Mrs. Ingrid Vandewiele who were appointed since the last Annual General Meeting to fill casual vacancies on the Board in accordance with the provisions of CAMA 2004 whose profile and CV appear in the company's website and being eligible offered themselves for election.
5. To authorize the Directors to fix the remuneration of Independent Auditors.
6. To elect members of Statutory Audit Committee.
7. To re-appoint Deloitte & Touche as Independent Auditors of Presco Plc.
COVID-19 Overall Risk to Stakeholders
The novel COVID-19 virus pandemic has had significant impact on global economies around the world, and it is having accounting implications for many entities. Our company is no different, which is why we have put in place protective measures in keeping with World Health Organization, NCDC, Edo State Government and Corporate Affairs Commission guidelines (safety protocols) to mitigate the spread. To ensure the safe conduct of the 27th Annual General Meeting of Presco Pic, Notice is Hereby Given to Shareholders That Attendance Shall Only Be By PROXY and Shall Be Limited to Only Twenty (20) Persons.
A member of the Company entitled to attend and vote at the Annual General Meeting is entitled to appoint a proxy to attend and vote instead of him. A proxy need not be a member of the Company. A proxy form is enclosed. Executed proxy forms should be deposited at the office of the Company's Registrars, First Registrars & Investor Services Limited, Plot 2, Abebe Village Road, Iganmu, Lagos, not less than 48 hours before the time of the meeting.
Pursuant to the above stated. Shareholders are encouraged to appoint any one of
the under listed proposed proxies to attend and vote in their stead at the meeting.
1. Mr. Felix Nwabuko
2. Mr. Gerald Royle Ray
3. Mr William Kenneth Crockett
4. Mr. Osa Osunde
5. HRH Prince A. O. Akenzua
6. Chief (Dr.) Bassey E.O. Edem
7. Mir. Patrick Uwadia
8. Mr. Famous Igbinevbo
9. Mir. Kingsley lyekekpolor
10. Engr. MOT Olayiwola Tobun
11. Bishop Goodluck Akpore
Instruments of PROXY shall be at the company's expense.
Closure of Register and Transfer of Books
The Register of Members and Transfer Books will be closed from Monday July 20th, 2020, to Wednesday July 22nd, 2020 (both days inclusive) to enhance preparation for the payment of dividend.
If the dividend recommended by the Directors is approved, dividend will be paid electronically on Friday September 4, 2020 to shareholders whose names appear on the Register of Members as at the close of businesson Friday July 17th, 2020 and who have completed the e-dividend registration and mandated the Registrar to pay their dividend directly into their Bank accounts.
Pursuant to the directive of the Securities and Exchange Commission, notice is hereby given to shareholders to provide account for the Purpose of e- dividend/bonus. A form is inserted into this Annual Report and Accounts 2019 for completion by all shareholders to furnish the particulars of their accounts to the Registrar (First Registrars & Investor Services Limited, Plot 2, Abebe Village Road, Iganmu).
5. The Qualification Date
The qualification date for payment of dividend is Friday July 17th, 2020.
6. Registered Office
Obaretin Estate, Km 22, Benin/Sapele Road, Ikpoba-Okha LGA, Edo State, Nigeria.
7. Shareholders Rightto Ask Questions
Shareholders reserve the right to ask questions at the Annual General Meeting. Shareholders may also submit their questions prior to the meeting in writing to the company, in line with Rule 19.12 (c) of the listing rules of The Nigerian Stock Exchange. Such questions should be addressed to the Company Secretary and reach the Company at its Registered Office or by electronic mail at firstname.lastname@example.org not later than 7 days prior to the date of the meeting.
8. Statutory Audit Committee
In accordance with Section 359(5) of the Companies and Allied Matters Act 2004 any member may nominate a qualified shareholder as a member of Statutory Audit Committee by giving notice in writing of such nomination to the Company Secretary at least 21 days before the meeting.
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Table: Q1 2020 Unaudited Results