The upcoming 14th Annual General Meeting of Infinity Trust Mortgage Bank Plc has been scheduled for Thursday, May 7 on a virtual platform to avert concerns of COVID-19 pandemic spread, the bank’s management said.
The AGM had earlier been scheduled to hold physically, but was disrupted by the Covid-19 pandemic and the associated national response. The decision for a virtual AGM was reached by the Board of Directors after extensive deliberations.
The Bank in an official notice of the AGM signed by the Company Secretary, Tolulope Osho, which was posted on the Nigerian Stock Exchange (NSE) website, indicated that the meeting would be by proxy.
According to her, the meeting would hold at the Penthouse, Infinity House, 11 Kaura Namoda Street, Garki, Abuja on May 7, at 11:00 am. She said the convening and conduct of the AGM shall be done in compliance with the Corporate Affairs Commission’s (CAC) issued Guidelines on Holding AGM of Public Companies by Proxy.
“We have concluded plans to hold our first virtual AGM in line with CAC guidelines. This would be done in order to curtail the spread of the Covid-19 pandemic while observing related directives and guidelines by both the Federal and State Governments and other Regulatory Agencies. This is due to the fact that the national guidelines for managing the pandemic does not give room for large gatherings and we have a responsibility as a Bank to hold the AGM and carry on necessary day-day operations while observing the guidelines by the Government.”
“The federal government has prohibited the gathering of more than 20 people, so attendance of the AGM shall be by proxy only,’’ she said.
She explained that the AGM would be streamed live online on the Bank’s YouTube channel to enable shareholders who would not be attending physically to follow the proceedings.
The head of investor relations, Abiodun Akanbi, stated that ordinary business such as presentation of annual reports and accounts, declaration of dividends, the reappointment of directors, reappointment of auditors would be attended to at the AGM while giving room for key stakeholders to participate and ask questions.
“We understand that this is a virtual AGM and we would ensure that key stakeholders are not deprived the opportunity to ask cogent questions and contribution as it pertains to the growth of the Bank, said Abiodun Akanbi.
Akanbi noted that Shareholders and their proxies are strongly encouraged to utilize the options available to them to participate in the AGM without attending in person. He explained that other details on how to participate in the meeting will be sent specifically to shareholders.
