Nascon Allied Industries PlcNSENG: NASCON

Resolutions passed at the agm

· Issued by Nascon Allied Industries Plc


NASCON ALLIED INDUSTRIES PLC. Registered Office: Salt City, Ijoko-Ota, Ogun State. Business Office: 15 Ikosi Road, Oregun, Lagos State.

nasconcare@dangote.com | nascon.dangote.com

May 8, 2025

Lagos, Nigeria

OUTCOME OF THE BUSINESS TRANSACTED AT THE ANNUAL GENERAL MEETING OF NASCON ALLIED INDUSTRIES PLC.

This is to announce that the Annual General Meeting ("AGM") of Nascon Allied Industries Plc. ("the Company") was held virtually on Thursday, 8 May 2025, at 11.00 a.m. The AGM was streamed live from https://www.youtube.com/dangotegroup, while the Annual Report is accessible at https://nascon.dangote.com. The following resolutions were passed at the AGM:

Ordinary Business:

  1. The Audited Financial Statements for the year ended December 31, 2024, as well as the Reports of the Directors, Auditors and the Audit Committee were laid before the members.

  2. The re-elections of Mr. Thabo Mabe, Ms. Fatima Aliko Dangote, and Ms. Halima Aliko Dangote being directors of the Company who retired by rotation, were approved.

  3. The appointment of Mrs. Aderemi Saka as a Director of the Company was approved.

  4. The Board of Directors was authorised to fix the remuneration of the Auditors.

  5. Dr. Okey Nwuke, Dr. Umar Farouk and Mr. Moses Igbrude, were elected as representatives of the shareholders on the Statutory Audit Committee. They shall serve along with Mr. Sada Ladan Baki and Ms. Halima Aliko-Dangote, (who represent the Board of Directors) until the conclusion of the next AGM.

  6. The remuneration of the managers of the Company was disclosed on page 137 of the Annual Report.

    Special Business:

  7. The independent directors' fees in the sum of Five Million Naira (N5,000,000.00) per annum for the Chairman, and Four Million Naira (N4,000,000.00) per annum for each Director, for the year ending December 31, 2025, was approved.

  8. The general mandate to enable the Board and Management on behalf of the Company, enter into related party transactions that are considered beneficial to the Company on a normal commercial and competitive basis and at arms' length was approved.

For: Nascon Allied Industries Plc.



Oluseun Oluwole Company Secretary



Directors: Mr. Olakunle Alake (Chairman), Mr. Thabo Mabe (Managing Director) (South African), Mrs. Aderemi Saka (Deputy Managing Directo r),

Mr. Abdu Dantata, Ms. Fatima Aliko-Dangote, Ms. Halima Aliko-Dangote, Mr. Sada Ladan-Baki, Mr. Knut Ulvmoen (Norwegian), Mrs. Fatima Wali-Abdurrahman