By Bamidele Famoofo
WorldStage– The directors of Nigerian Exchange Group Plc (NGX Group) have disclosed their plan to distribute a double reward to shareholders at its 65th Annual General Meeting scheduled for April 29, 2025.
The rewards include a bonus issue of one new ordinary share for every three existing shares for shareholders and an undisclosed dividend.
To achieve one of the purposes which will be proposed to shareholders for ratification at its 65th Annual General Meeting ( AGM) scheduled for April 29, 2025, in Lagos, the Company will increase its share capital ₦1,469,746,605, from ₦1,102,309,954.
The implication is that every shareholder who held the shares of the Company as at April 10, 2025, will have their shareholding increased by about 33 per cent. Hence, a shareholder with a million units of ordinary shares of the Company will increase its shares rise to 1,333,333 ordinary shares after the issuance.
The directors are also considering the payment of dividend at the AGM.
“As part of special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals. The proposal also includes an increase in the Company’s share capital from ₦1,102,309,954 to ₦1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure,” NGX disclosed in a statement.
According to the notice, shareholders will consider and, if deemed fit, approve the Company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the Directors, Auditors, Board Evaluation Consultants, and Audit Committee. The meeting will also deliberate on the declaration of a final dividend and the re-election of three Non-Executive Directors retiring by rotation: Dr. Umaru Kwairanga, Mrs. Ojinika Olaghere, and Dr. Okechukwu Itanyi.
Other ordinary business items on the agenda include authorizing the Board to fix the remuneration of the external auditors, determining the remuneration of Managers, and electing members of the Statutory Audit Committee.
