Connect with us

BUSINESS

COVID-19: FCMB Group gets CAC nod for 2019 AGM by proxies

Published

on

FCMB Group moves to increase stake in Legacy Pension Managers

FCMB Group Plc has obtained the approval of the Corporate Affairs Commission (CAC) to hold its 2019 Annual General Meeting (AGM) on April 28, by proxies.

Mrs Olufunmilayo Adedibu, FCMB Group’s Company Secretary, made the announcement in a statement to the shareholders on Thursday, posted on the Nigerian Stock Exchange (NSE) website.

It was reported that with the development, FCMB Group will be the second to hold an AGM through proxies which was first initiated by GTBank.

“We refer to the publication of our Audited Financial Statements and the Notice of AGM scheduled to hold on Tuesday, April 28, at 11.00 am.

“Your company notes the outbreak of the COVID-19 pandemic in the country and the partial lockdown of some states as announced by the Federal Government and some state governments towards securing their entry points and preventing the further spread of the coronavirus.

“We are also mindful of the legal framework and corporate actions predicated on the AGM, such as payment of dividend to shareholders, approval of audited accounts and filing of the annual returns, among others.

“Therefore, towards ensuring that these actions do not remain stalled as would be the case if the AGM is postponed or cancelled, we engaged the CAC and have obtained their approval to hold the AGM with attendance by proxies.

“To this end, shareholders are encouraged to send duly completed proxy form(s) indicating how you wish to vote on each of the resolutions noted therein, to the Registrars Cardinalstone Registrars or via e-mail to [email protected], not less than 48 hours before the time fixed for the meeting,” she said.

Adedibu noted that the option was being adopted in line with the provision of section 230 of the Companies and Allied Matters Act (CAMA) on the use of proxies with the understanding that the quorum for an AGM can be achieved either through physical attendance or by proxy.

“This measure is also to ensure that the operations of the company continue to run within the laid down compliance and regulatory frameworks, irrespective of the current circumstances,” she added.

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

Comments
NIGERIA DECIDES

NIGERIA DECIDES

Shell Digital Plan RESPONSIVE600x750
Shell Digital Plan RESPONSIVE600x750
GTB
JoinOurWhatsAppChannel