United Bank for Africa Plc on Thursday, April 7, 2022, held its 60th Annual General Meeting at the the Transcorp Hilton Hotel, Abuja FCT.
The following resolutions were passed during the meeting among others:
The receipt and adoption of the Audited Accounts for the year ended December 31, 2021, together with the reports of the Directors, Auditors and the Audit Committee thereon.
The payment of a final dividend of N27,359,537,092.80 (Twenty-Seven Billion, Three Hundred and Fifty-Nine Million, Five Hundred and Thirty-Seven Thousand, Ninety-Two Naira, Eighty Kobo) gross, on Thursday, April 7, 2022, in respect of the year ended December 31, 2021, at the rate of 80 kobo per every ordinary share of 50 kobo each, to all shareholders whose names appeared in the Register of Members at the close of business on Friday, March 18, 2022.
The approval of the remuneration of the Directors for the year ending December 31, 2022, fixed at N50million only for each Director.
The cancellation of the Bank’s Unissued Share Capital of 10,800,000,000 ordinary shares of 50 kobo each, pursuant to Articles 46 & 47 of the Bank’s 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. 10.
The declaration of the Issued Share Capital of the Bank as 34,200,000,000 ordinary shares of 50 kobo each, pursuant to Articles 46 & 47 of the Bank’s 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. 11.
The amendment of Clause 6 of the Memorandum and Article 10 of the Articles of Association of the Bank, pursuant to the above resolutions, to read as follows: “The Share Capital of the Bank is N17,100,000,000 (Seventeen Billion, One Hundred Million Naira) divided into 34,200,000,000 (Thirty-Four Billion, Two Hundred Million) ordinary shares of 50 kobo each.”
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
