NASCON To Hold 2019 AGM on July 27, 2020; Lists Proxies


Friday, July 10, 2020 / 3:18 PM / NSE / Header Image Credit: Nascon Allied Industries

Notice is hereby given that the ANNUAL GENERAL MEETING of NASCON ALLIED INDUSTRIES PLC. (NASCON) for the year ended 31st December 2019 will hold on Monday 27th July 2020 at the CIVIC CENTER, Ozumba Mbadiwe Road, Victoria Island, Lagos at 1 pm prompt to transact the following business:

1.       To lay before the Meeting the audited financial statements for the year ended 31st December 2019 along with the Directors report, the reports of the Independent auditors and the Audit Committee thereon.

2.      To declare a Dividend.

3.  To re-elect the following non-Executive Directors who are retiring by rotation and have offered themselves for re-election:

a)     Mr. Knut Ulvmoen

b)     Alhaji Abdu Dantata

c)      Halima Aliko Dangote

4.     To re-appoint the Company's Independent auditors.

5.     To authorize the Directors to fix the remuneration of the Independent auditors.

6.     To elect shareholder members of the Audit Committee.


Special Business

7.      To fix the remuneration of the Directors for the year ending 31st December 2020.

8.     To consider and if thought fit pass the following as an ordinary Resolution:

"That in compliance with the rules of the Nigerian Stock Exchange governing transactions with related or interested persons, the General Mandate circular in respect of all recurrent transactions that may be entered into with a related party or interested person which are of a revenue and trading nature or are necessary for the Company's operations including but not limited to the procurement of goods and services on normal commercial transactions terms as contained in the circular in the 2019 Annual Report be and is hereby approved"



A. Proxy

A member of the Company entitled to attend and vote at the Annual General Meeting can appoint a proxy to attend and vote instead of him/her. A proxy need not be a member of the Company.

In view of the current Covid-19 pandemic, the directives to minimize social contacts by restricting the number of persons at public gatherings and in accordance with the Corporate Affairs Commission's approval and Guidelines on Holding of Annual General Meetings (AGM) of Public Companies by taking advantage of Section 230 of the Companies and Allied Matters Act (CAMA) using Proxies, all members are hereby advised that attendance for the meeting shall be by PROXY. Shareholders are therefore advised to kindly appoint proxies to represent them at the meeting, as the Company is bound by the directives on the maximum number of people permitted in a social/public gathering.

Consequently, members are required to appoint a proxy of their choice from the following list of proposed proxies to represent them at the meeting:

1. Mrs. Yemisi Ayeni

2. Mr. Olakunle Alake

3. Mr. Paul Farrer

4. Professor Chris Ogbechie

5. Sir Sunny Nwosu

6. Mrs. Bisi Bakare

7. Mr. Nornah Awoh

8. Mr. Adeolu Akinsanya

A proxy form is enclosed in the Annual Report and can be accessed on the Company's website For the instrument of proxy to be valid, it must be completed and duly stamped for the purposes of this meeting. The Company has made arrangements at its cost for the stamping of the duly completed proxy forms which must be deposited at the office of the Registrar, Meristem Registrars Ltd at No. 213 Herbert Macaulay Way, Adekunle, Yaba, Lagos. You can also reach them by email at, not less than 48 hours before the time fixed for the meeting.

B. Dividend

If the dividend recommended by the Directors is approved, dividend will be paid on Wednesday 29th July 2020 to shareholders whose names appear in the Register of Members at the close of business on Tuesday 14th July 2020.

C. E-Dividend

Notice is hereby given to all shareholders to open bank accounts, stockbroking accounts and CSCS accounts for the purpose of dividend payment in line with the Securities and Exchange Commission (SEC) directives. Detachable e-mandate application form for the e-dividend is attached to the Annual Report and can be accessed on the Company's website at to enable all shareholders furnish particulars of their bank accounts to the Registrar as soon as possible. The e-dividend form is also available on the website of the Company's Registrar at

D. Closure of Register of Members

The Register of Members and Transfer Books of the Company will be closed on Wednesday 15th to Thursday 16th July 2020 to enable the Registrar update the register of members.

E. Nominations for the Audit Committee

In accordance with section 359(5) of the Companies and Allied Matters Act, (Cap C20, Laws of the Federation of Nigeria, 2004), any member may nominate a shareholder as a member of the Audit Committee by giving notice in writing of such nomination to the Company Secretary at least 21 days before the Annual General Meeting. The Securities & Exchange Commission's Code of Corporate Governance for Public Companies has indicated that members of the Audit Committee should have basic financial literacy and should be able to read financial statements. Therefore, nominations should be accompanied by a copy of the nominee's curriculum vitae.

F. Unclaimed Dividend

Shareholders are hereby informed that a number of dividend warrants have been returned to the Registrars as "unclaimed". Any member affected by this notice is advised to contact the Registrars, Meristem Registrars Ltd at No. 213 Herbert Macaulay Way, Adekunle, Yaba, Lagos. The list of unclaimed dividends can be accessed via the Company's website www. or the Registrar's website

G. Right to Ask Questions

It is the right of shareholders to ask questions not only at the Annual General Meeting but also in writing prior to the meeting. Questions should be addressed to the Company Secretary and submitted at the registered office of the Company or by email to not later than one week before the Annual General Meeting.

H. Directors' Profile

The profile of the Directors, including those for re-election, is enclosed in the Annual Report and can be accessed on the Company's website Special Notice is hereby given pursuant to Section 256 of the Companies and Allied Matters Act that Mr Knut Ulvmoen and Professor Chris Ogbechie both non-Executive Directors of the Company recently attained the age of 70 years and have indicated their willingness to continue in office.

I. Electronic Annual Report

The electronic version of the Annual Report will be available online for viewing and download from the Company's website, at Shareholders who have provided their email addresses to the Registrar will receive the electronic version of the Annual Report via email. Furthermore, shareholders who are interested in receiving the electronic version of the Annual Report should request by contacting the Registrar via their website or email directely at J. Live Streaming of the Meeting Proceedings The Annual General Meeting will be streamed live from the following social media channels: a. Website: b. Youtube:


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Table:  Q1 2020 Unaudited Results 

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