FBN Holdings Plc, the non-operating financial holding company of one of the largest banking and financial services organisations in Africa, has indefinitely postponed its 12th Annual General Meeting (AGM), which was initially scheduled for a virtual session on August 22, 2024, and later rescheduled to Tuesday, September 3, 2024.
In a notice to the Nigerian Exchange, signed by Adewale Arogundade, the acting company secretary, the meeting was intended to address several critical issues, including the approval of the company’s accounts, the declaration of a dividend, and authorisation for a capital raise of up to N350 billion. The notice assured that further updates on the AGM will be provided in due course.
The postponement follows a Lagos Federal High Court order halting the meeting pending the resolution of a motion for interlocutory injunction filed by shareholder Tohir Folorunsho Ismaila. Justice Akintayo Aluko issued the order on August 13, 2024, after hearing the ex-parte motion presented by Taiwo Osipitan (SAN), along with Olayemi Badewole SAN and Adetola Ogunlewe Esq., representing Ismaila, the Petitioner/Applicant.
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