FBN Holdings announces resolutions passed at 10th AGM

FBN Holdings Plc announced resolutions passed at its 10th Annual General Meeting (AGM) held in Lagos on Monday, June 20, 2022.

The lender resolved in section 7A that the directors be and are hereby authorised to take steps to comply with the requirements of the Companies and Allied Matters Act (CAMA), 2020 $.124 and the Companies Regulations 2021 as it relates to unissued shares currently standing to the capital of the company.

In the same way, the lender’s shareholders resolved that the company be and is hereby authorised to take all steps necessary to ensure that the Memorandum and Articles of Association of the Company are altered to comply with Resolution (A), including replacing the provision stating the authorised share capital with the issued share capital; that the directors be and are hereby authorised to enter into and execute any agreements, deeds, notices and any other documents necessary for and or incidental to resolution (A) above.

Shareholders also resolved that the directors of the company or any one of them for the time being, be and are hereby authorised to appoint such professional parties and advisers and to perform all acts and as may be necessary for or incidental to the above resolutions, including without limitation, complying with directives of any regulatory authority.

“That the reports of the directors, auditors, external consultants on the board appraisal and audit committee together with the audited accounts for the financial year ended December 31, 2021 now submitted to this meeting be and are hereby received.

“That a dividend payment in the total sum of N12,563,352,477.00 which translates to 35 kobo per 50 kobo ordinary share of the company, subject to withholding tax, with the dividend payable on Tuesday, June 21, 20214 to members whose names appear in the register of members at the close of business on June 13, 2022 be and is hereby approved,” the lender among others announced.