Notice is hereby given that the 40th Annual General Meeting of the Members of Forte Oil Plc will hold on the 3rd day of September 2019 at 10am at Bespoke Event Centre Lekki- Ajah Expressway, Lagos to transact the following business:
1. To present the Report of the Directors, the Consolidated Statement of Financial Position with the Consolidated Statement of Profit or Loss and other Comprehensive Income for the year ended 31st December, 2018 and the Report of the Auditors and Audit Committee thereon.
2. To ratify the appointment of the following directors:
a. Mr.AbdulWasiu O.Sowami as a Non-Executive Director in the Company;
b. Mr. Olumide Adeosun as an Executive Director in the Company;
c. Mr.Moshood Olajide as an Executive Director in the Company:
d. Mr.Mohammed Aminu Umar as a Non-Executive Director in the Company;
e. Mr. Olusola Adeeyo as an Independent Non-Executive Director in the Company; and
f. Mrs. Aniola Durosinmi-Etti as an Independent Non-Executive Director in the Company.
3. To authorize the Directors to appoint new Auditors
4. To authorize the Directors to fix the remuneration of the Auditors.
5. To elect/re-elect the members of the Audit Committee.
To fix the remuneration of the Directors
To consider and if thought fit, pass the following resolutions as special resolutions of the Company:
That the shareholders approve that the Company enter into discussions with Prudent Energy & Services Limited and or any company or individual(s) representing it in connection with the acquisition of identified downstream assets including but not limited to plant and machinery, trucks, stations and subject to independent valuations on fair value, enter into subsequent binding agreements on comparable arm's length/commercial terms in relation to the assets to be acquired.
That the directors and/or management of the Company be and are hereby authorized to approve, sign and/or execute all documents, appoint such professional parties and advisers, as may be necessary to give effect to the above resolutions, including without limitation, complying with the directives of any regulatory authority and all acts carried out, steps taken and documents executed (or to be executed) by the directors and/or management of the Company in connection with the above resolutions.
To renew the general mandate authorizing the Company to enter into recurrent transactions which are of a trading nature or those necessary for its day to day operations with related parties or companies in accordance with the Rules of the Nigerian Stock Exchange governing transactions with related parties or interested persons.
A member entitled to att end and vote at the Annual General Meeting is entitled to appoint a proxy to attend and vote in his stead. A proxy need not be a member of the Company. For the appointment to be valid, a completed and duly stamped proxy form by the Commissioner of Stamp Duties must be deposited at the office of the Registrar, Veritas Registrars Limited, Plot 89A Ajose Adeogun Street, Victoria Island, Lagos not less than 48 hours before the time fixed for the meeting.
The Audit Committee consists of 3 shareholders and 3 Directors in accordance with Section 359(5) of the Companies and Allied Matters Act of 2004. Any member may nominate a shareholder as a member of the Audit Committee by giving written notice of such nomination to the Secretary of the Company at least 21 days before the Annual General Meeting.
Rights 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 must be submitted to the Company Secretary on or before 23rd of August, 2019.
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Table: Unaudited Q1 2019 Results