The future is bright for Tribune, Oyediran assures at 41st AGM
Chairman of African Newspapers of Nigeria (ANN) Plc, Reverend (Mrs) Omotola Oyediran, on Thursday, assured the company’s shareholders of the prospects of the company, adding that it would continue to create value with economic and social impact on shareholders as well as stakeholders.
The chairman, who gave this assurance at the company’s 41st Annual General Meeting (AGM) held at the Awolowos’ residence in Ikenne-Remo, announced to the shareholders that despite the challenging economic environment, the company improved on its 2015/2016 performance.
Her words, “Sequel to the astute prudency of the management of your company during the year under review, your company recorded a higher operational performance during the financial year.”
She maintained that the company in the 2016/2017 financial year performed well despite the astronomical increase in the cost of newsprints and other materials because of the creativity of the management team.
She added, “And it is gratifying that despite the crunch in the economy and difficulties faced by the ANN Plc during the 2016/2017 financial year, I am indeed glad to announce to you that the Tribune Plaza in Abuja has finally been completed.”
Oyediran, who took over the chairmanship of the company after the demise of Mama HID Awolowo in 2015, said the project was fully executed without any loan from any financial institution.
The chairman, flanked by the co-chairman, Dr Olatokunbo Awolowo Dosumu, the company’s directors, Chief Ayo Adebanjo, Chief Bayo Fadoju, the Managing Director/Editor-in-Chief of ANN Plc, Mr Edward Dickson, the company’s Director/Consultant, Dr Segun Olatunji, and Mr James Akinmoladun, who represented Sanyasec Limited, informed the shareholders that sequel to the appreciable performance of the company, the Board of Directors recommended payment of dividends to them.
Oyediran expressed her appreciation to the directors for their commitment and sacrificial services to the company in the year under review and also announced that her sister, Dr Olatokunbo Awolowo Dosumu, would be assuming the chairmanship position for a two-year tenure in January 2018.
She solicited their cooperation for her to record success during her tenure and equally thanked the management of the company, under the leadership of Mr Edward Dickson, for piloting the affairs of ANN Plc.
The chairman thanked the entire staff of the company for their unending dedication and commitment to the success of the company
The co-chairman, in her remarks, commended Oyediran for the good job done under her leadership as the chairman of the company in the last two years.
She also lent her voice to the appreciation of shareholders, the management and staff of ANN Plc, for their love for the sixty-eight year old company.
Awolowo Dosumu said that the Tribune, the oldest surviving private newspaper in Nigeria, would continue to remain the voice of the masses.
She said, “I want to appreciate the Tribune management for managing the affairs of the company in the face of daunting economic challenges and the entire staff for their perseverance and commitment to duty.
“This newspaper was established by my late father, Chief Obafemi Awolowo, as the voice of the voiceless and it will remain so. The company’s shareholders equally deserve to be appreciated.”
Some of the shareholders, Mr James Dina and Chief Bayo Ogunbona, expressed satisfaction with the success recorded by the company, despite economic challenges.
They thanked the board for the payment of dividends despite the hostile operating environment in the year under review.
The directors, the auditors and the audit committee members were all re-elected.
The motion for the adoption of the auditors’ report was moved by Hon. R.S Alawaye and seconded by Alhaja Tolani Kalejaiye.
One of the highlights of the AGM was the recognition of five shareholders who had distinguished themselves. These are Alhaji Tajudeen Sokan, Mr James Dina, Chief Olayiwola Jagun, Mr. Sulaiman Laja and Chief (Mrs) Comfort Olutunda.
Also, four undergraduates from different tertiary institutions benefitted from the scholarship scheme of the company.
The beneficiaries are: Miss Bakare Azeezat, Mr. Olutunda Olaniyi, Miss Badru Moriamo and Miss Jimoh Oyindamola.
The MD/EIC, in his brief remark, said the scholarship award was instituted by the company to assist indigent but brilliant students.
He explained that the scholarship would be renewed yearly for each of the beneficiaries provided they continued to excel in their studies. He added that the renewal would not be automatic but based on the academic performance of each recipient at the end of each session.