Tuesday, March 8, 2022 / 1:21 PM / NGX / Header Image Credit: Transcorp Hotels
The 8th Annual General Meeting of Transcorp Hotels Plc is scheduled to hold on, Monday, April 4, 2022, at Transcorp Hilton Abuja, 1, Aguiyi Ironsi Street, Maitama, Abuja, F.C.T at 10.00 a.m. to transact the following businesses:
Ordinary Business
- To lay before the members, the Audited Financial Statements of the Company for the year ended December 31, 2021, together with the Reports of the Directors, Auditors and Audit Committee thereon.
- To declare a dividend.
- To approve the appointment of Ms. Bolanle Onagoruwa as a Director of the Company.
- To re-elect the following Directors retiring by rotation:
- Mrs. Owen Omogiafo; and
- Mr. Alexander Adeyemi.
- To authorise the Directors to fix the remuneration of the Auditors for the 2022 financial year.
- To disclose the remuneration of Managers of the Company.
- To elect members of the Statutory Audit Committee.
Special Business
- To consider and if thought fit, pass the following as ordinary resolutions:
8.1 "That the Company be and is hereby authorised to invest in, acquire, or divest from any business and/or carry out as the Directors may deem appropriate and in accordance with any relevant laws, any actions, including but not limited to restructuring, reorganization, reconstruction and such other business arrangement exercise or actions".
8.2 "That subject to regulatory approval (where necessary), the Directors, be and are hereby authorised to take all steps and do all acts that they deem necessary in furtherance of the above, including but not limited to executing and filing all such forms, papers or documents, as may be required with the appropriate authorities; appointing professional advisers and parties that they deem necessary, upon such terms and conditions that the Directors may deem appropriate".
- To consider and if thought fit, pass the following as special resolutions:
9.1 "That pursuant to Section 131 and other applicable provisions, if any, of the Companies and Allied Matters Act 2020 (CAMA), and Article 12 of the Articles of Association of the Company, the authorised share capital of the Company be and is hereby reduced from N7,500,000,000 (Seven Billion Five Hundred Million Naira only) divided into 15,000,000,000,000 ordinary shares of 50k each to N5,121,264,205.50 (Five Billion, One Hundred and Twenty One Million, Two Hundred and Sixty Four Thousand, Two Hundred and Five Naira, Fifty Kobo) divided into10,242,528,411 Ordinary shares of 50k each by canceling 4,757,471,589 ordinary shares of 50k each, which have not been issued.
9.2 "That Clause 6 of the Memorandum of Association of the Company be and is hereby amended and substituted with the following: The Share Capital of the Company is N5,121,264,205.50 (Five Billion, One Hundred and Twenty-One Million, Two Hundred and Sixty-Four Thousand, Two Hundred and Five Naira, Fifty Kobo) divided into10,242,528,411 Ordinary Shares of 50k each with power to divide the shares in the capital for the time being whether original or increased into several classes.
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Graph - One Year Share Price Movement
Table: Q3 2020 Unaudited Results