TRANSEXPR Notifies of Resolutions Passed At Its 27th AGM


Monday, July 20, 2020 11:10AM / NSE/ Header Image Credit: Investor Advocate

The members of the above named Company at its 27th Annual General Meeting held on Thursday, 16 July, 2020 at Radisson Blu Hotel, No. 38-40, Isaac John Street, Ikeja GRA, Lagos State at 11.00 a.m., proposed, and unanimously passed the following resolutions:

Ordinary Business


1. That the Audited Financial Statements for the year ended 31st December, 2019 together with the Reports of the Directors, the Auditors and the Audit Committee thereon submitted to the meeting be received and adopted.


2. That a dividend of $N0.03kobo per share of NO.50kobo each, amounting to $14,065,413.96 (Fourteen Million, Sixty Five Thousand, Four Hundred and Thirteen Naira Ninety-Six kobo) be paid on Monday, 20% July, 2020 to all members whose names appeared in the Company's Register of Members as at the close of business on Friday, 34 July, 2020, subject to the deduction of the appropriate withholding tax at the time of payment, as recommended by the Board.


3. That the following Directors retiring by rotation be and are hereby duly re-elected:


(a) Mr. Kayode Ajakaiye


(b) Ms. Daniella Suleman


4. That the remuneration of the Company's External Auditor, Messrs.' HLB Z. O. Ososanya & Co. be fixed by the Directors in respect of the period ending at the next Annual General Meeting pursuant to section 361 (1) (b) of the Companies and Allied Matters Act Cap C20, Laws of the Federation 2004 (CAMA).


9. "That pursuant to Section 359 (4) and (5) of the CAMA, an Audit Committee of the Company be and is hereby appointed with effect from 17* July, 2020 till the conclusion of the next Annual General Meeting". The following are to constitute the membership of the statutory Committee:


(a) Directors' Representatives:


            i. Mr. Kayode Ajakaiye


            ii. Mr. Adebayo Adeleke



(b) Shareholders' Representatives:


            i. Mr. Olusegun David Oguntoye


            ii. Mr. Oluwaseun Olukoya


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