Red Star Express Plc (NGX: REDSTAREX) is set to undergo an internal restructuring to subsume the activities of one of its wholly owned subsidiaries.
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Shareholders will be asked at the upcoming Annual General Meeting to approve an internal restructuring that will see its subsidiary, Red Star Logistics Limited into the Company. At the end of which the Subsidiary will cease to have a separate legal identity but will continue operations as a division of the Company.
The 32nd Annual General Meeting of Red Star Express Plc will hold virtually via https://redstarplc.com/rse-32nd-agm on Thursday September 18, 2025, at 11.00am.
At the meeting, shareholders will also be transacting the following business:
ORDINARY RESOLUTION
- To lay before members of the Company, the Audited Financial Statements for the year ended March 31, 2025 together with the Report of the Directors, Auditors and Statutory Audit Committee there on;
- To declare a Dividend;
- To re-elect the following Directors
a. Mr. Suleiman Barau
b. Mrs. Chioma Sideso - To authorize the Directors to fix the remuneration of the Auditors;
- To disclose the remuneration of the Managers of the Company;
- To elect members of the Statutory Audit Committee.
SPECIAL BUSINESS
To Consider, and if thought fit, to pass the following as Ordinary Resolution:
- Remuneration of Directors
“That the remuneration of the Non Directors for the year ending March 31, 2026 be and is hereby fixed at N8,000,000.00 (Eight million Naira) only”. - Internal Restructuring
a. That the Company undergoes an Internal restructuring to subsume the activities of one of its wholly owned subsidiaries, Red Star Logistics Limited (“the Subsidiary), into the Company at the end of which the Subsidiary will cease to have a separate
legal identity but will continue operations as a division of the Company;
b. That the Directors be and are hereby authorized to appoint such advisers, professionals and appropriate with regard to the implementation of the aforementioned resolution; and
c. That the Directors be and are hereby authorized to take all steps and do all acts that they deem necessary for the successful implementation of the above stated resolution
About the Company
Red Star Express Plc provides a portfolio of full logistic solutions in Nigeria which includes, but not limited to International and Domestic express delivery, Freight Forwarding, Integrated Logistics Solutions, Information and Document Management Solutions, Warehousing, Packaging Services, Food Delivery, Agriculture Logistics and E-commerce Solutions.
Red Star Express became a publicly quoted company in the Nigerian Exchange Group (NGX Group) Plc in November 14, 2007.
The company has 3 wholly owned subsidiaries, Red Star Freight Limited, Red Star Logistics Limited and Red Star Supports Services Limited.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
