Royal Exchange Plc has issued notice of its 56th Annual General Meeting (AGM), scheduled to hold on Friday, October 10, 2025, at 11:00 a.m. at The Civic Centre, Victoria Island, Lagos.
Key Items on the Agenda
Financial Statements: To present the audited financial statements for the year ended December 31, 2024, along with the reports of the Directors, Auditors, and the Audit Committee.
Board Elections and Appointments:
Re-election of Mr. Adeyinka Adekunle Ojora as Non-Executive Director.
Ratification of Mrs. Idu Okeahialam as the Managing Director of the company.
Auditors: Appointment of Kreston Pedabo Audit Services as the new external auditors of the company and authorization of directors to fix their remuneration.
Management Disclosures: Approval to disclose the remuneration of the company’s managers.
Audit Committee: Election of shareholder representatives to the Statutory Audit Committee.
Notes for Shareholders
Proxy Voting: Shareholders unable to attend physically can appoint proxies, who need not be shareholders themselves. Proxy forms must be submitted at CardinalStone Registrars, Yaba, Lagos, at least 48 hours before the AGM, or sent electronically.
Register Closure: The company’s register of members and transfer books will be closed between September 22 and 26, 2025.
Audit Committee Nominations: Shareholders may nominate members for election into the Statutory Audit Committee, in line with CAMA 2020 requirements that nominees must be financially literate.
Unclaimed Dividends/Certificates: Shareholders with unclaimed dividends or share certificates are urged to complete their e-dividend registration. A list of unclaimed dividends is available on CardinalStone’s website.
Access to Reports: The 2024 Annual Report will be available electronically on the company’s website, and shareholders who provided email addresses will also receive copies by email.
Livestreaming: The AGM will be streamed live on the company’s website to enable wider participation.
Shareholder Questions: Shareholders may submit questions to the company secretary in advance or raise them during the AGM.
Investor Insight
This AGM will be significant for shareholders as it will ratify the appointment of a new Managing Director, appoint new auditors, and confirm governance roles. The inclusion of livestreaming highlights a push for greater shareholder engagement, while the call to address unclaimed dividends reflects ongoing efforts to improve investor value delivery.
