At the Annual General Meeting of the Shareholders of United Capital Plc, held on Tuesday, March 23, 2021, at the Lagoon Restaurant, Ozumba Mbadiwe Street, Victoria Island, Lagos, the following resolutions were proposed and approved by the Shareholders:
- The Audited Financial Statements for the year ended December 31, 2020 and the Report of the Directors, Auditors and Audit Committee thereon.
- A dividend of N4.2 billion at 70 kobo per ordinary share of 50 kobo to all shareholders whose names are registered in the Company’s Register of Members as of March 5, 2021.
- The approval of the re-election of Mr. Sonny Iroche and Sir Stephen Nwadiuko as Independent Non-Executive Directors.
- The approval of the appointments of Mr. Oladipupo Fatokun and Hajiya Sutura Aisha Bello as Independent Non-Executive Directors.
- The authorization of the Board of Directors to fix the remuneration of the Auditors for the financial year ending December 31, 2021.
- The election/re-election of the following as members of the Statutory Audit Committee:
6.1 Mr. Oladipupo Fatokun – Directors’ representative;
6.2 Sir. Stephen Nwadiuko – Directors’ representative;
6.3 Mr. Paul Olele – Shareholders’ representative;
6.4 Pastor Alex Adio – Shareholders’ representative; and
6.5 Mrs. Faith George-Usman – Shareholders’ representative.
Disclosure of the remuneration of the Managers on page 52 of the Annual Report was duly noted by the Shareholders.
The approval of the remuneration of the Non-Executive Directors fixed at N45.5million cumulatively for the financial year ending December 31, 2021.
9. The Directors be and are hereby authorized to raise additional capital of up to N100,000,000,000 (One Hundred Billion Naira), through the issuance of tenured bonds, notes, commercial papers, debt instruments, or loans in any currency by way of bond issuance, note issuance, book building or other methods and whether in one or more tranches; the pricing and terms of such issuance to be determined by the Directors as they deem appropriate subject to obtaining the approvals of relevant regulatory authorities.
10. The Directors be and are hereby authorized to appoint such advisers, professionals and parties that they deem necessary, upon such terms and conditions that the Directors may deem appropriate with regard to the aforementioned issuances.
11. The Board of Directors be and are hereby empowered and authorized to carry out as it deems appropriate and in accordance with any relevant laws thereto, any actions, including but not limited to reorganization, restructuring, reconstruction and business arrangement exercise and actions for the Company as may be necessary to achieve a competitive business advantage across the Group and/or comply with any legislation and/or directives and guidelines from the Securities and Exchange Commission.
12. The Directors be and are hereby authorized to appoint such advisers, professionals and parties that they deem necessary, upon such terms and conditions that the Directors may deem appropriate with regard to the aforementioned business arrangements.
13. The Directors be and are hereby authorized to take all steps and do all acts that they deem necessary for the successful implementation of the above-stated resolutions.
