GTBank to hold AGM, attendance is by proxy
Subsequent to the partial closure of
business activities and capital market operations as precautionary
measure to curtail the spread of the coronavirus disease, GTBank Plc has
obtained approval to hold its Annual General Meeting scheduled to hold
on March 30, 2020,with attendance to be on proxy.
The lender in an announcement obtained
from the Nigerian Stock Exchange said the initiative was to minimise
contact and adhere to the directives of the Federal and Lagos State
The statement signed by the bank’s
Company Secretary, Erhi Obebeduo expressed the company’s concerns over
the health hazards arising from the coronavirus pandemic, which could be
exacerbated by public gatherings.
The bank noted: “In view of the legal
framework and corporate actions predicated on the AGM, such as payment
of dividends, election of Audit Committee members, the filing of Annual
Returns and approval of the fees of external auditors, which actions
will remain in abeyance if the AGM is postponed or cancelled.
“Your company engaged the Regulators
with a view to finding a solution that would balance the compliance with
regulatory framework and minimise health hazards that could be
exacerbated by such large gathering.
“We are pleased to inform you that the
Corporate Affairs Commission has graciously approved that the AGM should
hold with attendance by proxy to minimise social contact. To this end,
shareholders are encouraged to appoint proxies to represent them at the
meeting, as the company would abide by the Lagos State Government’s
directive of not having more than 25 people in a gathering (or any
number as may be permitted at the date of the meeting.”
The bank noted that as part of the
measure, the AGM would also be streamed live on the bank’s website and
encouraged shareholders to log in to observe proceedings.
The shareholders that will attend will
be required to go through safety/health measures as directed by the
National Centre for Disease Control and Lagos State Ministry of Health.
Source: Punchng, March 26, 2020