Academy Press PlcNSENG: ACADEMY

Year 2024 agm resolutions

· MarketScreener

6th September, 2024

RESOLUTIONS PASSED AT THE 60TH ANNUAL GENERAL MEETING OF ACADEMY PRESS PLC HELD AT THE REGISTERED OFFICE OF THE COMPANY 28/32, ILUPEJU INDUSTRIAL ESTATE, ILUPEJU LAGOS ON THURSDAY 5TH SEPTEMBER, 2024

DECLARATION OF DIVIDEND

  1. A resolution was passed for the declaration of dividend of 10 kobo per 50kobo share amounting to ₦75.6 million subject to appropriate withholding tax be and is hereby authorized for payment to the Shareholders in respect of the financial statements for the year ended 31stMarch, 2024.
  2. RE-ELECTIONOF DIRECTORS
    1. Mr. Femi Akingbe who retired in accordance with Section 273 (1) of the
      Companies and Allied Matters Act, 2020, being eligible for re-election was re-elected a Director of the Company.
    2. Mrs. Folashade Omo-Eboh who retired in accordance with Section 273 (1) of the Companies and Allied Matters Act, 2020 being eligible for re-election was re- elected a Director of the Company.
  4. RATIFICATION OF THE APPOINTMENT OF A DIRECTOR

Mrs. Oluwakemi Ogunnubi's appointment as an Executive Director, Finance & Business Development of the Company was unanimously ratified.

  1. Resolution to Authorize Directors to fix the remuneration of the external Auditors.
    The Directors were authorized to fix the remuneration of Messrs. E r n s t & Y o u n g (Chartered Accountants) who will continue in office pursuant to the provision of Section401 of the Companies and Allied Matters Act, 2020 in respect of the Financial

Statements for the year ending 31st March, 2025 in compliance with Section 408

  1. (1) (b) of the Act.

  2. ELECTION OF AUDIT COMMITTEE MEMBERS

The following persons were elected to represent the shareholders on the Audit Committee:

  1. Alhaji Sinari B. Daranijo
  2. Mr. Samuel A. Adedoyin
  3. HRH Oba Yekini Olanrewaju Ajadi

The following Directors were appointed to represent the Board on the Audit Committee:

    1. Mrs. F. B. Omo-Eboh
    2. Mr. Femi T. Akingbe
  2. APPROVAL OF DIRECTORS' FEE:

The sum of ₦10.68 million being Directors' fees paid in the previous year and being proposed for the year ending 31st March, 2024 was approved.