MRS Notifies of Resolutions Passed At Its 51st AGM

Tuesday, August 11, 2020 / 9:27 AM / NSE/ Header Image Credit: MRS Oil Nigeria Plc

At the Annual General Meeting of MRS Oil Nigeria Plc, held on Wednesday, August 5, 2020 at the Panoramic Hall, The Civic Center, Ozumba Mbadiwe Avenue, Victoria Island, Lagos, the following resolutions were considered and approved:

Ordinary Business

1.   That the Audited Financial Statements for the year ended 31 December 2019 and the Report of the Directors together with the Audit Committee and Auditors' Reports thereon submitted to the Members are hereby approved.

2.   That the following Directors retiring by rotation be re-elected:

Mr. Matthew Akinlade (who has attained the age of 70 years and    being eligible, presented himself for re-election).

Sir Sunday N. Nwosu.

3.      That Deloitte and Touche be appointed as the new External Auditors of the Company.

4.      That the Directors are hereby authorized to fix the remuneration of the External Auditors.

5.      That the Members of the Audit Committee for 2020 were elected and approved are as follows:

Board Nominees:

• Dr. Amobi Daniel Nwokafor
• Ms. Amina Maina
• Mrs. Priscilla Ogwemoh

Shareholder Nominees:

• Mr. Babajide Ajani Adetunji
• Mr. Emmanuel Okafor
• Mr. Adeleke Oladimeji

Special Business

6. That the Directors' fee be N1,000,000.00 (One Million Naira) per Director/per annum

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Graph - One Year Share Price Movement

Table:  Q1 2020 Unaudited Results

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