Ikeja Hotel Plc cancels Annual General Meeting

Ikeja Hotel Plc (NGX: IKEJAHOTEL) has cancelled its Annual General Meeting scheduled for July 30, 2025, and postponed it indefinitely.

The Company notified the general public of the cancellation in statement signed by Olubunmi Tadema, Company Secretary on Thursday.

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“This follows a notice from the Securities and Exchange Commission, issued to ensure strict compliance with the regulatory oversight and judicial pronouncements currently in effect regarding Ikeja Hotel Plc and its investee company, The Tourist Company of Nigeria Plc “TCN”,” the statement said.

“The postponement of the Annual General Meetings of Ikeja hotel Plc and The Tourist Company of Nigeria, Plc is to ensure strict compliance with applicable legal and regulatory requirements,
and to safeguard the interests of Ikeja Hotel Plc as a shareholder and creditor in TCN and those of all relevant stakeholders in line with the Commission’s statutory mandate and directives.

Consequently, the general public, esteemed shareholders, relevant regulators and all other stakeholders are advised to take note of this development and suspend any further actions or arrangements related to the Annual General Meeting,” it concluded.

Shareholders of the Company would have at the Annual General Meeting at Sheraton Lagos Hotel, transacted the following businesses;

AGENDA

ORDINARY BUSINESS

To lay before members the audited financial statements for the year ended December 31, 2024, together with the report of the Directors, Audit Committee and Auditors thereon
To declare a dividend
To re-appoint the External Auditors
To authorize the Directors to fix the remuneration of the External Auditors for the 2025 Financial year
To elect shareholder-members of the Audit Committee
Disclosure of the remuneration of Managers of the Company

SPECIAL BUSINESS

To consider and if though fit, pass the following as an ordinary resolution: “That the total remuneration of Directors be and is hereby fixed as follows:
i. Directors fee: N 18,500,000 (Eighteen Million, Five Hundred Thousand Naira)
ii. Other expenses (including sitting allowances, seasonal gifts, health insurance, travel ticket) N168,940,976 (One Hundred and Sixty-Eight Million, Nine Hundred and Forty Thousand, Nine Hundred and Seventy-Six Naira) such payment to be effective from January 1, 2025.