Shareholders of GlaxoSmithkline Consumer Nigeria Plc, at the 48th Annual General Meeting held at the Shell Nigeria Hall, MUSON Centre Onikan, Lagos, Thursday, 23rd May 2019 passed ordinary and general resolutions which affected different aspects of its operations, a note sent to the NSE by Uche Uwechia, stated. The meeting of the shareholders resolved that the recommendation of the Board of Directors to the effect that a cash dividend of 50 Kobo (Fifty Kobo)per one ordinary share of 50 Kobo each (composed of 36k from retained pioneer profit and 14k from after tax profit for the year ended 31 December 2018) be paid to the shareholders whose names appear in the company’s register of members at the close of business on Tuesday, 23rd of April 2019.
It approved the appointment of Basel Nizameddin as a non-executive director of the company effective May 23, 2018 pursuant to Section 249(2) of the Companies and Allied Matters Act CAP C20 LFN 2004 and Article 95 of the Articles of Association of the Company just as the retirement of Tunde Lemo and Lubabatu Bello from the Board of Directors by rotation was approved and because the two directors were eligible and having offered themselves for re-election were re-elected in accordance with the Section 259 (1) of the Companies and Allied Matters Act CAP. C20 LFN 2004 and Article 91 of the Company’s Articles of Association, two Directors, Section 259 (4) of CAMA Cap C20, LFN 2004.
“That the remuneration of N1,800,000 (One Million, Five Hundred Thousand Naira only) for the Chairman and the Non-Executive Directors, for the year ending 31st December 2018 is approved. And pursuant to Section 359 (4) of the Companies and Allied Matters Act, CAP C20 LFN 2004, Kashimawo A. Taiwo, S.O. Ogunnowo, and Y.T. Mosuro, are hereby re-elected as representatives of the Shareholders on the Audit Committee of the Company for the financial year ending 31st December 2019”, the note further stated.
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