FBN Holdings Plc have denied receiving a court order to stop it 11th Annual General Meeting (AGM) scheduled for Tuesday August 15, 2023, says the AGM would go as scheduled.
This was revealed in a notice it filed with the Nigerian
Exchange Limited on Thursday.
In the notice signed by the acting Company Secretary,
Adewale Arogundade, FBN Holding said, “The attention of FBN Holdings Plc (the
Company) has been drawn to recent media reports purporting that the Company has
received a Court Order stopping It from holding the Annual General Meeting
(AGM) scheduled for August 15, 2023.
“We confirm that this assertion is a false narrative as the
Company has, as at the date hereof, not been served with any court order to
stop the forthcoming AGM.
“Suffice to mention that the AGM is a statutory meeting of
Shareholders that must be held in accordance with the law, further to which the
Company will notify the regulators and the public as appropriate if there is
any lawful order to restrain the Company from conducting same. We hereby assure
our esteemed Shareholders that the AGM shall hold on August 15, 2023, as
planned and we look forward to their attendance and active participation at the
meeting.”
Court orders published in national dailies showed that the
Federal High Court in Lagos had issued an order against the financial
institution, barring it from holding its 11th AGM.
A petition by Olusegun Onagoruwa, upon which the order was
obtained in suit No: FHC/L/CP/1271/2022, addressed to the bank and some other
bank officials, said, “Take notice that unless you obey the directives in the
judicial order contained in the order made on July 15, 2022, by the Federal
High Court, Lagos, by refraining from proceeding with the 11th Annual General
Meeting of FBN Holdings Limited proposed for August 15, 2023, from seeking
approval to issue or raise share capital in any manner whatsoever, from appointing
or confirming the appointment of new directors, or in any other manner taking
any step towards implementing, actualising enforcing resolution of the 10th
Annual General Meeting of FBN Holdings Plc held on June 20, 2022, or in any
other manner overreaching, disobeying or undermining the said order of a court,
you will be guilty of contempt of court and you will be liable to be committed
to prison and to there imprisoned.”
Some shareholders had protested at the headquarters of the
bank on Monday, calling for the AGM to be held, as well as soliciting
regulatory interventions.
At its AGM, the lender said that it plans to seek
shareholders’ approval to raise N150bn fresh capital via a rights issue and
elect new directors including billionaire, Femi Otedola and Samson Ariyibi
among other resolutions.
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