Wednesday, August 14, 2019, 09:10AM
We write to inform The Nigerian Stock Exchange (The Exchange), our stakeholders and the general public that Red Star Express Plc held its 26th Annual General Meeting on Thursday, 8th August 2019 at the Shell Hall, Muson Centre, 8/9 Marina Road, Onikan, Lagos, and the following resolutions were duly passed:
1. That the audited financial statements for the year ended 31st March 2019 and the report of the Directors and Audit Committee be received.
2. That a dividend of 43 kobo per share be paid to shareholders.
3. That re-election of Mr. Suleiman Barau and Mrs. Chioma Sideso is approved.
4. That the Directors be authorized to fix the remuneration of the Auditors.
5. That Chief Cyril Ifeanyichukwu Ugwummadu, Alhaji Kolawole Ganiyu Amoo and Mr. Ayodele Moses Ogundeji be elected shareholder representatives on the Audit Committee.
6. That the Directors’ fees be fixed at N5,375,000.00 (Five Million, Three Hundred and seventy Five Thousand Naira) for the period ending March 31, 2020.
7. That the Company is authorized to put in place an Employee Equity Benefit Scheme for its Executive Directors.
8. That the Board of Directors are authorized to allot such number of shares from the unissued shares of the Company to the Scheme.
9. That the Board of Directors are authorized to appoint such professional advisers, stockbrokers and other parties to the transaction mentioned in Nos. 7 and 8 above and perform all such acts as may be necessary for and/or incidental to effecting the above resolutions.