RAKUNITY To Hold 17th AGM on September 25, 2020; Lists Proxies

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Monday, August 24, 2020 / 3:15 PM / NSE / Header Image Credit: RAK Unity Petroleum

 

Notice is hereby given that the 17th Annual General Meeting of RAK Unity Petroleum PLC (the "Company") will be held at the Function Room, Muson Centre, 8/9 Marina Road, Onikan Lagos State, Nigeria, on Friday, 25th September 2020 at 11.00 am to transact the following businesses:

 

ORDINARY BUSINESS

  1. To lay before the meeting the Audited Financial Statements of the Company for the year ended 315t December 2019, together with the Reports of the Directors, the Auditors and the Audit Committee thereon.
  2. To re-elect retiring Directors
  3. To authorise the Directors to fix the remuneration of the Auditors
  4. To elect members of the Audit Committee


SPECIAL BUSINESS

  1. To fix the remuneration of the Directors
  2. To consider and if thought fit, pass the following resolution as an ordinary resolution of the Company:

“That in compliance with the rules of the Nigerian Stock Exchange governing transactions with related parties or interested parties, the General Mandate given to the Company to enter into recurrent transactions with related parties for the Company's day-to-day operations, including the procurement of goods and services on normal commercial terms, be and is hereby renewed.”

 

PROXY

In view of the Lagos State Infectious Diseases (Emergency Prevention) Regulations 2020, prohibiting gatherings in excess of 20 persons as a means of curbing the spread of the current COVID-19 pandemic, and the Guidelines issued by the Corporate Affairs Commission on holding.

Annual General Meetings by use of proxies, attendance at the Annual General Meeting shall only be by proxy. A member entitled to attend and vote at the Annual General Meeting is, therefore, advised to select from the underlisted proposed proxies to attend and vote in his behalf:

  • Mr Edo-Abasi Ukpong - Chairman of the Company
  • Chief Timothy Adesiyan - Shareholder Representative
  • Prince (Dr.) Anthony Omojola - Shareholder Representative
  • Mrs. Bisi Bakare - Shareholder Representative

 

A proxy form is included in the Annual Report. All instruments of proxy must be executed and deposited at the office of the Registrars, First Registrars & Investor Services Limited, No. 2 Abebe Village, Iganmu, Lagos, or via Email: info@firstregistrarsnigeria.com not later than 48 hours before the time fixed for the meeting. Arrangements have been made by the Company to bear the cost of stamp duties on the instruments of proxy.

 

Notes:

1.       Closure Of Register Of Members And Transfer Books

The Register of Members and Transfer Books of the Company will be closed from Monday 24th August 2020 to Friday 28th August 2020, both days inclusive, to enable the Registrar to update the Register of members.

 

2.      Audit Committee

By virtue of Section 404(3) of the Companies and Allied Matters Act, 2020 (CAMA 2020"), the Audit Committee should be made up of five members comprising of three shareholders and two non-executive directors, the members of the audit committee are not entitled to remuneration, and are subject to election annually.

 

Pursuant to Section 404 (6) of the CAMA 2020, any shareholder may nominate another shareholder for appointment to the Audit Committee, by giving notice in writing of such nomination to the Company Secretary at least twenty-one (21) days before the Annual General Meeting and any nomination not received prior to the meeting as stipulated is invalid.

 

Please note that Section 404(5) of the CAMA 2020 and The Code of Corporate Governance for Public Companies issued by the Securities and Exchange Commission require all members of the Audit Committee to be financially literate, able to read financial statements and at least one member shall be a member of a professional accounting body in Nigeria established by an Act of the National Assembly. We, therefore, request that all nominations to the Audit Committee should be accompanied with the Curriculum Vitae of the Nominees.

 

3.      Unclaimed Share Certificates And Dividend Warrants

Shareholders are hereby informed that several share certificates and dividend warrants have been returned to the Registrar as unclaimed. Affected members are, by this notice, advised to contact the Registrar, First Registrars & Investor Services Limited, No. 2 Abebe Village, Iganmu, Lagos, or via Email: info@firstregistrarsnigeria.com to claim their share certificates and dividend warrants.

Please note that in accordance with Section 432(2) of the CAMA 2020 dividends that are unclaimed after 12 years could be included in the profits that should be distributed to the other shareholders of the company.

 

4.     E-Dividend

Shareholders who are yet to complete the e-dividend registration are advised to download the E-Dividend Mandate Activation Form from the Registrar's website www.firstregistrarsnigeria.com or https://firstregistrarsnigeria.com/download-forms/, complete the form and submit the completed form to the Registrar at the address stated above or any branch of the shareholder's respective bank. A detachable copy of the E-Dividend Mandate Application Form is also attached to the Annual Report.

 

5.      Re-Election Of Retiring Directors

Pursuant to Section 273(1) of the Companies and Allied Matters Act, 2020, the Directors to retire by rotation are Mrs. Moroti Adedoyin-Adeyinka and Mr. Obumneme Okonkwo. Their profiles are contained in the Annual Reports and are also available for viewing at www.rakunity.com.

 

6.     Right Of Securities Holders To Ask Questions

Securities holders have a right to ask questions not only at the meeting, but also in writing prior to the Meeting, and such questions should be addressed to the Company Secretary and submitted to the registered office of the Company at least one week before the date of the meeting.

7.      Electronic Annual Report

The electronic version of the Annual Report has been circulated to shareholders, who have provided their e-mail addresses to the Registrar, and will also be available at www.rakunity.com for viewing and download. Shareholders who are interested in receiving a soft copy of the 2019 Annual Report should request by sending an email to: info@rakunity.com

 

8.     Electronic Complaints Register

Please note that in accordance with the Securities and Exchange Commission's Rule No. 10 (a), shareholders who have complaints should use the electronic complaints register on the website of the Company at www.rakunity.com to register their complaints. This will enable the Company handle complaints from shareholders in a timely, effective, fair and consistent manner.

 

9.     Live Streaming Of The Annual General Meeting

To protect the health and safety of shareholders and employees of the Company, attendance at the meeting is restricted to twenty persons taking into consideration the need for social distancing. The Board, however, continues to regard the Annual General Meeting as an important opportunity to engage with shareholders and has, therefore, made arrangements for the meeting to be live streamed 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 made available in due course on the Company's website www.rakunity.com. 

 

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Table:  Q1 2020 Unaudited Results

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