Dangote Cement Plc (NGX: DANGCEM) on Tuesday, June 14, 2022 held its 13th Annual General Meeting (AGM) at Eko Hotel and Suites, Victoria Island, Lagos, at 11.00 a.m.
In a document published on the Nigeria Exchange, the company said the following resolutions were duly passed among others:
“The Audited Financial Statements for the year ended December 31, 2021, and the Reports of the Directors, Auditors and the Audit Committee were laid before the Members.
“A dividend payment of N20.00 for every 50 Kobo ordinary share, payable to all shareholders whose names were registered in the Company’s Register of Members at the close of business on May 30, 2022, was approved.
“The remuneration of the Chairman of Five Million Naira (N5,000,000) and the Non-Executive Directors of Four Million Naira (N4,000,000) each for the year ending December 31, 2021, was approved by an ordinary resolution.
“The unissued shares of the Company be and are hereby cancelled pursuant to Section 124 Companies and Allied Matters Act (CAMA) 2020 and Regulation 13 of the Companies Regulations 2021.
“Following the recommendation of the Board of Directors and in line with Article 10 of the Company’s Memorandum and Articles of Association as well as compliance with section 124 of the Companies and Allied Matters Act (CAMA) 2020 and Regulation 13 of the Companies Regulations 2021, to cancel all unissued shares amounting to 2,959,492,596 (two billion, nine hundred and fifty-nine million, four hundred and ninety-two thousand, five hundred and ninety-six) shares of 50 kobo each and treasury shares amounting to 166,948,153 (one hundred and sixty-six million, nine hundred and forty-eight thousand, one hundred and fifty-three) shares of 50 kobo each. 9.3.Pursuant to Article 10 of the Company’s Memorandum and Articles of Association and in compliance with the requirements of Section 124 of the Companies and Allied Matters Act (CAMA) 2020 and Regulation 13 of the Companies Regulations 2021, to declare that the share capital of the Company is 16,873,559,251 (sixteen billion, eight hundred and seventy-three million, five hundred and fifty-nine thousand, two hundred and fifty-one) shares of 50 kobo each.
To amend Article 6 of the Memorandum and Articles of Association of the Company as follows:
“The share capital of the Company is N8,436,779,626 (Eight Billion, Four Hundred and Thirty-Six Million, Seven Hundred and Seventy-Nine Thousand, Six Hundred and Twenty-Six Naira) divided into 16,873,559,251 (Sixteen Billion, Eight Hundred and Seventy-Three Million, Five Hundred and Fifty-Nine Thousand, Two Hundred and Fifty One) ordinary shares of 50 kobo each.”
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
