At the 65TH Annual General Meeting of Industrial & Medical Gases Nigeria Plc (IMG or the Company) held on Friday, 20th June 2025, the following resolutions were duly passed:
That the Audited Financial Statements of the Company for the year ended 31st December 2024 together with the reports of the Directors, Auditors and Audit Committee thereon be received,
That payment of dividend of 80 kobo per 50 kobo ordinary share held by shareholders and 1 Bonus share for every 10 shares held is hereby approved in respect of the year ended December 31, 2024.
That the following Directors be and are hereby re-elected Non-Executive Directors: Mr. Oyedele Olawale and Mr. Adeleke Adebayo.
That the Directors be and hereby authorized to fix the remuneration of Auditors
The remuneration of Managers of the Company was disclosed to the members at the meeting.
That the following be and are hereby elected as members of the Statutory Audit Committee to represent the sharehodlers:
Mr. Bello Kazeem Owonikoko
Mr. Kenneth Nnabike Nwosu
Mr. Okafor Emmanuel Nkwachukwu
That the following Non-Executive Directors are hereby nominated to represent the Board on the Audit Committee:
Mr. Adeleke Adebayo
Mrs. Olusola Oworu
Special Business
That the remuneration of Non-Executive Directors for the year ended 31st December 2024 be and is hereby approved.
That the Directors be and is hereby authorized to apply any outstanding shareholder loan trade payable, or any other loan facility due to any person from the Company as may be agreed by the person and the Company towards payment for any shares subscribed for by such person under the Rights Issue.
That the amendment of the Articles of Association of the Company to give effect to minor revisions in the provisions governing Directors' Remuneration upon cessation of office is hereby approved.
That the Directors be and is hereby authorized to capitalize the sum of N24,974,682.30 out of the balance standing to the credit of the share premium of the Company as at December 31, 2024, and be available for distribution, and to appropriate the said capitalized sum to the members whose names are in the register of members as at the close of business on 5 June 2025, on the condition that the sum appropriated shall not be paid in cash but applied in paying up, in full, at par, on behalf of such holders, in the proportion of 1 (one) new ordinary share of 50 Kobo for every 10 (ten) ordinary shares of 50 Kobo held by them, as at the qualification date, and which shares shall rank pari passu in all respect with the existing ordinary shares of the Company.
By Order of the Board
Aderonke Segun-Alabi (Mrs).Company Secretary