Business
FBN Holdings Plc to hold AGM today
FBN Holdings Plc have notified the Nigerian Exchange, general public and stakeholders that its Annual General Meeting scheduled for Tuesday, August 15, 2023 will hold as planned.
In a notice to the Nigerian Exchange, FBN Holdings stated thus:
In accordance to the Nigerian Exchange Limited Rulebook and further to our announcement on August 10, 2023 that the Company was yet to be served with any Court Order, we hereby notify the public and our stakeholders that FBN Holdings Plc was served with an ex parte order on interim injunction on Friday, August 11, 2023, restraining it from proceeding with the proposed annual general meeting scheduled for August 15, 2023. This was via Suit No FHC/L/CS/1575/23 – In a matter of Olojede Adewole Solomon, Adebayo Oluwafemi Abayomi and Ogundiran Emmanuel Adejare VS FBN Holdings Plc.
We confirm that our lawyers have filed and served on the Petitioners the necessary processes and notice of appeal challenging the said order and seeking that same, as well as the entire proceedings be set aside, paving way for the AGM to proceed on August 15, 2023, as earlier scheduled, including but not limited to:
A Notice of Appeal against the decision of the Federal High Court to grant the ex parte order;
A Motion of Notice for an order to stay and/or suspend the execution of the ex parte order as well as to stay further proceedings in the suit pending the hearing and consequent determination of the Appeal filed at the Court of Appeal.
In the light of the foregoing, the Company believes that it can proceed and indeem proceeding with the AGM (which is a statutory meeting) as scheduled on August 15, 2023.