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Business News of Friday, 10 June 2022

Source: nairametrics.com

Consolidated Hallmark Insurance to pay final dividend of 2kobo per ordinary share of 50kobo

Eddie Efekoha, Group Managing Director Eddie Efekoha, Group Managing Director

Consolidated Hallmark Insurance has resolved to pay its shareholders 2 kobo per ordinary share of 50 kobo subject to appropriate withholding tax to be paid to shareholders whose names appear in the register of members as at the close of business on Friday, May 2022.

This was part of the resolution passed at the 27th annual general meeting of the insurer according to disclosures filed to the Nigerian Exchange.

The company also deliberated on important issues such as the remuneration of managers, the election of auditors and the election/reelection of independent non-executive directors.

Pursuant to the provision of the companies and allied matters act 2020, the insurer resolves “that the directors be and were thereby authorized to take steps which defines share capital to mean issued share capital of a company at any given time to comply with the requirements of the Companies and Allied Matter Act 2020 and the companies regulation 2021 as it relates to unissued shares currently standing to the capital of the company, including the cancellation of the unissued share of the company.”

That the company’s memorandum of Article of Association be altered to comply with the above resolution and replace the provision stating the authorized share capital with the issued share capital.

That the board was and hereby authorized to do all such acts or deeds and give such directions as may be necessary including filing all required returns at the corporate affairs commission to give effect to this resolution.