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LAGOS - Seplat Energy PLC, a prominent Nigerian energy company, successfully concluded its Twelfth Annual General Meeting (AGM), with shareholders passing all proposed resolutions. The virtual meeting, which took place on Wednesday, was in compliance with the Business Facilitation (Miscellaneous Provisions) Act 2022, allowing for electronic participation.
Key resolutions included the approval of the Audited Financial Statements for the year ended December 31, 2024, with a 100% vote in favor. Shareholders also endorsed a final dividend as recommended by the Board of Directors, reflecting a near-unanimous agreement with a 99.99% approval rate.
The appointment of PriceWaterhouseCoopers (PWC) as the company’s auditors was acknowledged by shareholders, and the board was authorized to determine the auditors’ remuneration, receiving a 99.14% approval vote. In directorial matters, Ms. Koosum Kalyan and Madame. Nathalie Delapalme were re-elected by shareholders, each securing a 99.99% approval.
The meeting also addressed the remuneration of company managers, which was noted by shareholders without a formal vote. The election of shareholder representatives to the Statutory Audit Committee was conducted electronically, with three shareholder representatives and two board-nominated representatives approved.
Furthermore, a resolution to increase the company’s Issued Share Capital and to amend the Memorandum and Articles of Association to reflect the new share capital was overwhelmingly approved, with 99.98% and 99.99% of votes in favor, respectively. This move enables the creation of up to 11,500,000 additional Ordinary Shares and authorizes the board to issue and allot shares to Stanbic IBTC Trustees Limited under the company’s Long Term Incentive Plan (LTIP).
The resolutions passed at the AGM will be available for inspection on the company’s website and have been submitted to the Financial Conduct Authority’s National Storage Mechanism.
Seplat Energy, listed on both the Nigerian Exchange Limited (NGX:SEPLAT) and the London Stock Exchange (LON:LSEG) (LSE:SEPL), continues to play a pivotal role in Nigeria’s energy sector, with a focus on affordable, reliable, and sustainable energy. This AGM’s outcomes further solidify the company’s governance and strategic initiatives as it navigates the energy industry.
The information in this article is based on a press release statement from Seplat Energy PLC.
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