By Chris Ndibe
United Bank for Africa (UBA) on Monday fixed April 29 as the new date for its 2019 Annual General Meeting (AGM) earlier postponed due to the COVID-19 pandemic.
The bank in a notice of the AGM signed by Mr Bili Odum, the Group Company Secretary, posted on the Nigerian Stock Exchange (NSE) website, said the meeting would be by proxy.
Odum said the meeting would now hold at the Amphitheatre, UBA House, 57 Marina, Lagos state on April 29, at 9:00 am.
He said convening and conduct of the AGM shall be done in compliance with the Corporate Affairs Commission (CAC) issued Guidelines on Holding AGM of Public Companies by Proxy.
“The AGM will be conducted in compliance with COVID-19 related directives and guidelines by both the Federal and state Governments, Health Authorities and Regulatory Agencies.
“Particularly, the Lagos state government prohibited the gathering of more than 20 people, so attendance of the AGM shall be by proxy only,’’ he said.
Odum noted that shareholders were required to appoint a proxy of their choice from the list of nominated proxies, comprising Mr Tony Elumelu, Mr Kennedy Uzoka and Mr Bili Odum.
“In line with CAC Guidelines, attendance of the AGM shall be by proxy only. Shareholders are required to appoint a proxy of their choice from the list of nominated proxies below: Mr Tony Elumelu, Mr Kennedy Uzoka and Mr Bili Odum.
“A proxy need not be a member of the company. To be valid, a proxy form must be completed and duly stamped by the Commissioner of Stamp Duties and returned to the Registrar, Africa Prudential Plc, not less than 48 hours before the fixed time of the meeting,” he said.
Odum said the company had made arrangements, at its cost, for the stamping of the duly completed and signed proxy forms submitted to the company’s Registrars within the stipulated time.
He explained that the AGM would be streamed live online to enable shareholders who would not be attending physically to follow the proceedings.
UBA’s 58th AGM was initially slated for March 27, at the Eko Hotels & Suites, Victoria Island, Lagos.
It said the cancellation of the notice and postponement of the AGM are hinged on part of UBA’s measures, as a good Corporate Citizen, to avoid the spread of the Coronavirus.
UBA will be the third company to hold AGM by proxies which was started by GTBank being the first quoted company in Nigeria that held meeting by proxies on March 30.