August 10, (THEWIL) – FBN Holdings Plc has said it did not receive a court order stopping it from holding the Annual General Meeting (AGM) scheduled for August 15, 2023, emphasizing that the AGM would hold as scheduled.
The company disclosed this via an official statement signed by the Company Secretary, Adewale Arogundade, which was sent to Nigeria Exchange Limited.
Part of the statement read:
“The attention of FBN Holdings Plc (the Company) has been drawn to recent media reports purporting that the Company has received a Court Order stopping it from holding the Annual General Meeting (AGM) scheduled for August 15, 2023.
“We confirm that this assertion is a false narrative as the Company has, as at the date hereof, not been served with any court order to stop the forthcoming AGM.
/“Suffice to mention that the AGM is a statutory meeting of Shareholders that must be held in with the law, further to which the Company will notify the regulators and the public as appropriate if there is any lawful order to restrain the Company from conducting same.
“We hereby assure our esteemed Shareholders that the AGM shall hold on August 15, 2023, and we look forward to their attendance and active participation at the meeting.”
The company noted that if there was any restraining order to stop the AGM from holding, that they would have informed regulators and the investing public. They assured Shareholders that the AGM would hold on August 15, 2023.
THEWILL had reported that some minority shareholders of FBN Holdings Plc had on Monday, August 7th protested at the Lagos Headquarters of the group against a court order suspending the 11th Annual General Meeting (AGM) of the financial institution..
Chairman of Trusted Shareholders Association of Nigeria who carried out the protest, Alhaji Mukhtar Mukhtar. told THEWILL that the shareholders were not happy that some individuals were trng to hold the financial institution to ransom.
Mukhtar said in a telephone chat that his group embarked on the protest to express their displeasure over an attempt by “some interests” to prevent the financial institution from holding its Annual General Meeting (AGM) scheduled for August 15, 202
“We protested against those who do not want First Bank to progress; those who do not want the AGM to hold and consider certain crucial resolutions because of their own personal interest
“How can a shareholder who claims to have the interest of the bank at heart think that if an AGM is held to consider crucial issues such as raising new capital or increasing the share capital of the bank and appoint new directors would not be in the interest of the bank?
“Except those with ulterior motives and who believe that their personal interests would be endangered, how would a company be negatively impacted by having new capital injected into it to boost its activities?”, Mukhtar queried.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
