11 Plc (Nigeria) | Resolutions passed at 42nd AGM

At the Annual General Meeting of the members of 11 Plc held on the 14th day of October, 2020 at Transcorp Hilton 1, Aguiyi Ironsi Street, Abuja. The shareholders of the Company proposed and passed as ordinary resolution:

ORDINARY RESOLUTION

1. a dividend of N2, 974,910,903 that is, 825 Kobo per share, subject to withholding tax at the appropriate rate, be and is hereby declared payable on October 15, 2020 to all shareholders whose names were in the Register of members at the close of business on September 29, 2020.
2. the appointment of Senator Daniel Olugbenga Aluko as Independent Non Executive Director is hereby ratified.
3. pursuant to Section 361 (1) (b) of the Companies and Allied Matters Act of 2004, the Directors of the Company be and are hereby authorised to fix the remuneration of the external auditors for the year ending December 31, 2020.
4. having scored the highest votes, Esan Ogunleye, Ganiat Adetutu Siyonbola and Ralph Oluwole Osayameh in addition to Ramesh Virwani, Chief Paul C. Obi and Alhaji Abdulkadir Aminu who are the Directors’ representatives are hereby declared members of the Audit Committee.
5. the Directors’ remuneration for the year ending 31 December 2020 be and is hereby fixed at N500,000 (Five hundred thousand naira) for each of the Non Executive Directors in the total sum of N2,500,000.00 (two million, five hundred naira).
6. the transfer of the real estate portfolio of 11 Plc to 11 Hospitality Limited (its wholly owned subsidiary), as recommended by the Board of Directors be and is hereby approved.”
7. subject to the applicable rules of the Nigerian Stock Exchange and subject to compliance with other statutory requirements, the shareholders hereby approve the voluntary delisting of the shares of 11Plc from the Nigeria Stock Exchange

Chris-Olumayowa Meseko
Company Secretary

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