African Alliance Insurance Plc Notifies of the Resolution Passed at the 52nd AGM

Proshare

Tuesday, November 30, 2021 / 8:45 PM / NGX / Header Image Credit: African Alliance


The members of the above-named Company at its 52nd Annual General Meeting held on Thursday, 25th November, 2021 at Westwood Hotels, No. 22, Awolowo Way, Ikoyi, Lagos State at 10.00 a.m., proposed and unanimously passed the following resolutions:

Ordinary Business

  1. That the Audited Financial Statements for the year ended 31st  December, 2020 together with the Reports of the Directors, the Auditors and the Audit Committee thereon submitted to the meeting be received and adopted.
  2. That the Director retiring by rotation be and is hereby re-elected:
    1. Mr. Sylva Ogwemoh (SAN)
  3. That the remuneration of the Company's External Auditor, Deloitte & Touche Tohmatsu Limited be fixed by the Directors pursuant to Section 408, sub-section (1b) of the Companies and Allied Matters Act (CAMA) 2020.
  4. That pursuant to Section 404, sub-sections (2) and (3) of the Companies and Allied Matters Act 2020, the following individuals were duly elected as members of the Company's Statutory Audit Committee:
    1. Directors Representatives:

i.     Alh. Abatcha Bulama

ii.   Mr. Macauley Atasie

    1. Shareholders Representatives:

i.     Alh. Tunde Kabir Sarumi

ii.   Dr. Raphael Attu

iii. Ms. Juliet Gbaka

  1. That the Company complied with Section 257 of the Companies and Allied Matters Act, 2020 and disclosed the remuneration of its Managers.

Special Business

6.(i) That the remuneration of the Company's Directors is fixed in accordance with their contract of service.

(i)      That the severance package payable to the Company's ex-directors be approved.

7.(i) That the sale of the Company's 539,000,000 (Five Hundred and Thirty-Nine Million) units of ordinary shares representing 49% equity stake in Pensions Alliance Limited (PAL) at the price of N16.6 billion naira to Conau Trade and Investment Co. Limited is hereby ratified.

(ii)    That the repurchase of the Company's 539,000,000 (Five Hundred and Thirty Nine Million) units of ordinary shares representing 49% equity stake in Pensions Alliance Limited (PAL) from Conau Trade and Investment Co. Limited at the price of N18.6 billion naira using cash, the Company's shareholding in Universal Insurance Plc and the property at 29 A & B Akin Adesola Street, Victoria Island, Lagos State is hereby ratified.

 

Visit African Alliance Insurance Plc IR Page in Proshare MARKETS 

Graph - One Year Share Price Movement

Proshare Nigeria Pvt. Ltd.

 

Table: Q3 2020 Unaudited Results

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Related News

1.                   NGX Lifts Suspension Placed on Trading in the Shares of AFRINSURE and ROYALEX...

2.                  NGX Places ROYALEX, TOURIST and 2 Others on Suspension Effective July 02, 2021

3.                  African Alliance Insurance Plc Announces Delay in Filing FY 2017 and Q1 2018 Reports

4.                  African Alliance Insurance Plc Announces Delay in Filing Q1 2018 Reports

5.                  African Alliance Insurance Plc Issues Notice of 49th Annual General Meeting

6.                  NSE Lifts Suspension Placed on Trading in the Shares of Niger Insurance Plc

7.                  NSE Lifts Suspension Placed on Trading In The Shares of Guinea Insurance Plc and Niger Insurance Plc

8.                 Niger Insurance Plc Notifies On the Filing of Its FY 2017 and Q1 2018 Results

9.                  Royal Exchange Plc Notifies of Completion of Investment By InsuResilience Investment Fund

10.              NSE Lifts Suspension Placed On Trading In The Shares Of Royal Exchange Plc

11.               Royal Exchange Plc Announces Delay in Filing FY 2017 and Q1 2018 Reports

12.              Dissecting the Financial Results of Companies in Nigeria's Hospitality Sector - TOURIST


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP