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Central Securities Clearing System (CSCS) Plc has announced that it will hold its 26th Annual General Meeting (AGM) by proxy on Friday 22 May 2020, at the Nigerian Stock Exchange Building.
The Company obtained the following 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, Mr. 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”.
Mr. Ojo further explained that “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”.
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; authorise 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. .
