Capital Market: CSCS To Hold 26th Annual General Meeting By Proxy

CEO NSE, Oscar Onyema.

By Barnabas Esiet.

The  Central  Securities  Clearing  System  (CSCS)  Plc  has announced  that  it  will hold its 26th Annual General Meeting  (AGM)  by  proxy  on  the  14th Floor of The Nigerian Stock Exchange Building,  Lagos  on  Friday 22  May  2020  by  10:00am, Central  African  Time  (CAT).

In a statement, the CSCS said it obtained the approval from the Corporate Affairs Commission (CAC) as stipulated in the Commission’s Guidelines on holding of Annual General Meetings (AGMs) of Companies using Proxies.

According to the Group  Company  Secretary, Charles  Ojo,  the  AGM  will  be  done  “in accordance  with  the  guidelines  issued  by  the  Corporate  Affairs  Commission  (CAC)  on  the conduct  of  Annual  General  Meetings  via  proxies  in  Nigeria  as  part  of  the  measures  to mitigate the negative effect created by the current Coronavirus (COVID-19) pandemic.’’

CSCS requests every  member who  is entitled  to  attend and  vote  at  the  company’s 26th  Annual General  Meeting  to  appoint  a  proxy  from  the  list  of  designated  individuals  to  attend  and vote in his or her stead.

‘’Attendance of the Annual General meeting shall be by proxy only, a proxy needs not be a member of the company, electronic copies of proxy forms will be received via e-mail to designated contacts as specified in the Notice of Meeting not less than 48 hours before the time fixed for the meeting”. The statement read.

According to the statement, during  the  AGM,  CSCS  will  transact  ordinary  business  such  as  receive  and  consider  the company’s  audited  financial  statements  for  the  year  ended  December  31,  2019  and  the Reports of the Directors, Auditors and Statutory Audit Committee; declare a final dividend; elect/re-elect  Directors;  authorize  the  Directors  to  fix  the  remuneration  of  the  Auditors amongst other businesses.

‘’The adoption of a proxy AGM is in line with the CSCS’ commitment to contain the spread of Coronavirus  by  adopting  all  the  necessary  safety  measures  such  as  maintaining  social distancing, constant  hand  washing,  use  of sanitizers  amongst, other  measures  to  curb  the spread of the virus.” The statement concluded.