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… Passed All Resolutions
Shareholders of Oando Plc has applauded the management operational capabilities and drive to continue to return yield on their Investment.
The shareholders made this remarks on Wednesday at the company’s 43rd Annual General Meeting (AGM) held at the Wings Office Complex, Victoria Island, Lagos.
Other major highlights at the AGM saw shareholders accenting to all resolution as regards appointment of new directors and BDO Professional Services as its new Auditors.
Dr. Farouk Umar and Patrick Ajudua, both leaders of the various shareholders and proxies further encouraged Oando’s management to be focused on corporate actions that would be beneficial to all.
Specifically, the company’s recent partnership with Lagos State for the launch of electric mass transit buses was applauded, even as they encouraged the management team to maintain its tenacity in striving for company growth.
Resolutions approved at the AGM includes, the election of Mrs. Nana Fatima Mede and Mrs. Ronke Shokefun as Non-Executive Directors, the election of Adeola Ogunsemi as an Executive Director, the re-election of Ike Osakwe, Ademola Akinrele and Dr. Ainojie Irune as Directors, the election of audit committee members, and the remuneration of non-Executive Directors.
Speaking on the resolution, Patrick Ajudua said: “I want to commend the management for the appointment of Mrs. Ronke Shokefun and Mrs. Nana Mede as Directors, and we hope that they will bring value to us.”
Buttressing Mr. Patrick’s comment, Dr. Farouk Umar, said; “I thank you for bringing two women to the board. This is a happy development, I hope that when we have a casual vacancy, we should fill it with a woman.”
Speaking on the issue of insecurity in the country such as vandalism, banditry, and terrorism amongst others that have hampered most businesses growth, Patrick Ajudua said; ” I’m worried about the issue of oil theft. This implies that the company is losing so much money to oil theft. This also makes it difficult for the country to meet the OPEC quota and negatively impacts our GDP. I applaud the approach by NIMASA in using their aircraft to track vandalism. I believe that when various stakeholders join forces, we’ll have a resolution to this issue.”
He further reaffirmed his support to Oando management saying: “I want to assure you of our support to Oando and once we can solve these lingering issues of oil theft, we will be able to enjoy the fruit of our labour.”
In response to shareholders statements, the GCE, Oando PLC, Adewale Tinubu, reaffirmed the management’s commitment to continually do what’s in the best interest of shareholders.
