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Summary of events reported to the NSE November 18-22, 2019

CAC authorises Universal Insurance to hold AGM: The management of Universal Insurance Plc has obtained authorisation from the Corporate Affairs Commission (CAC) to hold its Annual General Meetings (AGMs) for 2017 and 2018. The specific date of the AGM shall be communicated to the shareholders and other stakeholders. It will be held not later December 31, 2019.

Seplat announces cash acquisition of Eland Oil and Gas Plc: Seplat Petroleum Development Company Plc , a leading Nigerian independent oil and gas company listed on both the Nigerian Stock Exchange and London Stock Exchange, on the court meeting and the general meeting held on 20 November, 2019 by Eland and convened in relation to the proposed scheme, that all the proposed resolutions were duly passed by the requisite majorities. According to Seplat, 99.996% of the scheme shares voted in favour of the acquisition; 0.004% voted against, which brought the total number of shares scheme that voted to 154,100,690. The scheme is expected to become Effective on 17 December 2019. Further, Seplat has announced Roger Brown as the successor to Austin Avuru who will be retiring by July 31, 2020.

Stanbic IBTC Holdings appoints Nkemdilim Uwaje as a Non-Executive Director: The Board of Directors of Stanbic IBTC Holdings has announced the appointment of Nkemdilim Cay Uwaje as a non-executive director effective November 18, 2019. She graduated from the Ludwig Maximilian University (LMU) & Technical University Munich (TUM), Germany, where she received a BSc Hons in Bioinformatics. Her entrepreneurial journey really started with Future Software Resources Limited, and she has been at the helm of the business ever since.

Access Bank appoints Awosika as Chairman: The Board of Directors of Access Bank Plc has announced Ajoritsedere Awosika as the successor to Bello-Olusoga who will be retiring by January 8, 2020 , following the completing of the maximum 12-year term limit allowed by the Central Bank of Nigeria’s Code of Corporate Governance for Banks and Discount Houses.

Veritas Kapital Assurance announces date of board meeting: The Board of Directors of Veritas Kapital Assurance Plc has announced it will hold its 173rd board meeting o Friday, December 6, 2019 at the board room at the company’s head office at Plot 497, Abogo Largema Street, CBD, Abuja to review and deliberate on the company’s budget and strategy for 2020.

MTN Nigeria appoints Modupe Kadiri as Executive Director and CFO: Telecommunications giant, MTN Nigeria, has announced the appointment of Modupe Kadiri as Executive Director and Chief Financial Officer (CFO) of the company. He replaces Adekunle Awobodu. Kadiri is an alumnus of the University of Lagos and a Fellow, Institute of Chartered Accountant of Nigerian(ICAN) and Association of Chartered Certified Accountants (ACCA).

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