Thursday, September 21, 2017, has been set as the date to hold the Annual General Meeting of one of Nigeria’s highly rated and upwardly mobile Insurance Company, Sovereign Trust Insurance Plc, having been granted approvals for its 2016 Annual Report and Accounts by the National Insurance Commission, NAICOM, and the Nigerian Stock Exchange, NSE, respectively. The Meeting will take place at The Panoramic View Hall, Civic Centre, Victoria Island Lagos, by 11:00am.
The Head, Corporate Communications/Brand Management of the company, Mr. Segun Bankole shared this information recently in Lagos while briefing newsmen in preparation for the 22nd Annual General Meeting of the Underwriting Firm. The Spokesperson on behalf of the organization, seized the opportunity to thank all its Shareholders across the country and beyond who have stayed committed to the organization through thick and thin over the years.
Under the Ordinary Business, The Meeting will consider the Audited Financial Statements for the year ended December 31, 2016, coupled with the Reports of the Directors and that of the Audit Committee. Other highlights will include to re-elect Directors who are still eligible as well as authorize the Directors to fix the remuneration of the Auditors while the Shareholders will elect their representatives that will serve on the Audit Committee.
Part of other resolutions to be considered at the meeting will bother on increasing the share capital of the company from N5.5b to N7.5b by creating 4,000,000,000 (four billion) ordinary shares of 50 kobo each ranking pari passu in all respects with the existing ordinary shares of the company.
The meeting will also authorize the Directors of the company to raise additional equity capital for the company up to the maximum limit of the authorized share capital, whether by way of Special Placement or Public Offer or a combination of any one of them.
Sovereign Trust Insurance Plc is wholly owned by Nigerians home and abroad.