The Nigerian Stock Exchange (NSE) is set to hold its 59th Annual General Meeting of Members, to consider among other things, the conversion and the re-registration of The Exchange as The Nigerian Exchange Group Plc subject to the approval of relevant authorities.
The AGM will be held at the NSE Event Centre, 20th floor, Stock Exchange House, 2/4 Customs Street Lagos, on 18 November 2020 at 11:00 a.m. This is according to a publication by the Nigerian Stock Exchange signed by Mojisola Adeola, Council Secretary.
Following the re-registration, the shares of The Nigerian Exchange Group Plc will be listed by “Introduction” on the Nigerian Exchange Limited (the entity to which the securities license of The Nigerian Stock Exchange would be transferred).
The publication read in part among its Special Businesses to transact at the AGM is to “consider and if thought fit, pass as a special resolution (with or without any modifications), that subject to the receipt of requisite approvals of relevant regulatory authorities, following the conversion and re-registration of The Exchange as Nigerian Exchange Group Plc, the Nigerian Exchange Group Plc be and is hereby authorized to undertake a listing by Introduction of its shares on Nigerian Exchange Limited (the entity to which the securities license of The Nigerian Stock Exchange would be transferred), through the listing of [2,004,199,917] ordinary shares of 0.50k each in the issued share capital of The Exchange”
Also at the AGM, the Audited Financial Statements of The Exchange for the year ended 31 December 2019, and the Reports of the National Council and the Auditors will be presented.
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The AGM will be conducted in compliance with all directives and guidelines issued by the Government and Health Authorities to curb the spread of COVID-19 in Nigeria.
According to the Exchange, attendance at the AGM shall be by proxy only in line with CAC Guidelines. Members are required to appoint a proxy of their choice from the list of nominated proxies as provided by the Exchange.
A member entitled to attend and vote at the AGM is entitled to appoint a proxy to attend and vote instead of himself/herself. The appointed proxy shall “already be a member of The Exchange or the accredited representative of a member, save that a corporation being a member of The Exchange may appoint as its proxy one of its Directors or other authorized representative who is not a member of The Exchange.”
The proxy form shall be deposited at either the registered office of The Exchange’s Registrars, Datamax Registrars, (92C, Gbagada – Oworonshoki Expressway, Gbagada, Lagos) or via email to email@example.com or firstname.lastname@example.org at least 48 hours before the time of holding the meeting.
The AGM will be streamed live to enable members and other stakeholders who are unable to physically attend to follow the proceedings online.
For more details about the AGM click here.
The Nigerian Stock Exchange services the largest economy in Africa and is championing the development of Africa’s financial markets. The NSE, a registered company limited by guarantee, was founded in 1960 and it is licensed under the Investments and Securities Act (ISA) and is regulated by the Securities and Exchange Commission (SEC) of Nigeria. On 5 June 1961, trading commenced on The Nigerian Stock Exchange. The Exchange offers listing and trading services, licensing services, market data solutions, ancillary technology services and more.
By; Ifunanya Ikueze