Nigerian Exchange Group Plc (NGX Group) has announced that its 62nd Annual General Meeting (AGM) will take place on Friday, July 14, 2023, at 11:00 a.m.
The event will be held at the Event Centre, located on the 20th floor of the Nigerian Exchange Group House, situated at 2/4 Customs Street, Lagos.
As mandated by Section 235 of the Companies and Allied Matters Act (CAMA) 2020, the AGM aims to provide shareholders with a comprehensive overview of the company’s performance.
During the meeting, NGX Group’s management will present the Audited Financial Statements for the fiscal year ending December 31, 2022, along with the reports from the Board and Auditors.
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One of the primary objectives of the AGM is to secure shareholder approval for various key decisions.
Shareholders will cast their votes to re-elect retiring Non-Executive Directors, namely Dr Umaru Kwairanga, Dr Ikechukwu Itanyi, and Mrs Ojinika Olaghere.
Additionally, members of the Statutory Audit Committee will be elected or re-elected during this session. Shareholders are also expected to grant authorization to the Board to determine the remuneration of the external auditors.
The AGM’s special business will revolve around the appointment of new Directors for Nigerian Exchange Group Plc.
The following individuals are nominated for directorial positions: Mr Nonso Okpala and Mr Sehinde Adenagbe as Non-Executive Directors, Mr Ademola Babarinde and Mr Mohammed Garuba as Non-Executive Directors, and Mrs Mosun Belo-Olusoga and Mrs Fatima Wali-Abdurraham as Independent Non-Executive Directors.
In addition to these deliberations, shareholders will have the opportunity to consider and, if deemed appropriate, pass a special resolution.
This resolution pertains to the proposed amendment of Article 24 of the Company’s Articles of Association.
The amendment seeks to empower the Board to increase the issued share capital of NGX Group and allocate new shares as deemed necessary, subject to prior approval from shareholders at a General Meeting.
To promote transparency and inclusivity, NGX Group will provide a live stream of the AGM on its official website, www.ngxgroup.com.