COVID-19: United Bank for Africa to Hold AGM through Proxy

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Goddy Egene

United Bank for Africa (UBA)Plc is to hold its annual general meeting(AGM) on Wednesday, April 29, 2020 apparently to enable the shareholders to receive their dividend for 2019 financial year.

UBA had postponed the AGM due to the COVID-19 pandemic. However, the lender said in notification to the Nigerian Stock Exchange (NSE) yesterday that the meeting would now hold at its Amphitheatre, UBA House, Marina, Lagos to receive the audited financial statements for the year ended December 31, 2019 together with the reports of the directors, auditors and the audit committee. At the meeting a final dividend would also be declared among others.

But in compliance with COVID-19 related directives and guidelines, prohibiting the gathering of more than 20 people the AGM will be done through proxy.

“In line with Corporate Affairs Commission (CAC) guidelines, attendance of the AGM shall be by proxy only. Shareholders are required to appoint a proxy of their choice from the list of nominated proxies: Mr. Tony O. Elumelu, Mr. Kennedy Uzoka and Mr. Bili Odum,” the bank explained.

UBA added that it had made arrangements, at its cost, for the stamping of the duly completed and signed proxy forms submitted to the company’s registrars within the stipulated time.

“The AGM will be streamed live online. This will enable shareholders and other stakeholders who will not be attending physically to follow the proceedings. The link for the AGM live streaming will be made available on the Company’s website. If the dividend recommended by the directors is approved, dividend will be posted electronically on Wednesday, April 29, 2020,” it added.