WorldStage Newsonline– Afromedia Plc which offers a wide variety of billboards has issued a notice at the Nigerian Stock Exchange that its 51st Annual General Meeting of Afromedia Plc will hold at Training Room 2, Lagos Chamber of Commerce and Industry (LCCI) Conference and Exhibition Centre, Plot 10, Nurudeen Olowopopo Drive, Alausa Ikeja, Lagos, on Monday, 05 October 2020 at 02:00 p.m.
The notice indicated that the AGM will be to lay before the members, the Audited Financial Statements of the Company for the year ended 30 September 2017, 30 September 2018, 30 September 2019 together with the Reports of the Directors, Auditors and the Audit Committee thereon; to ratify the appointment of Directors; to appoint Messrs. SIAO Partners as External Auditors of the Company and to authorise the Directors to fix their remuneration; to elect members of the Statutory Audit Committee; to approve the Accounting reference date as 31 December.
The notice said the Register of Members and Transfer Books of the Company will be closed from September 18, 2020 through September 20, 2020 (both dates inclusive) to enable the preparation of the Annual General Meeting.
Alhaji Lateef Akande Bakare and Alhaji Usman Kabiru both appointed on 30th November 2018 are said to being recommended for ratification as Independent Non-Executive Directors, respectively by the general meeting while Mr. Babajide Ebenezer Shokunbi appointed on the 10th of June 2019 to represent the Estate of the Late Reverend Iretunde Olopade, is being recommended for ratification as Non-Executive Director by the meeting.
In another notice, the company released its earnings forecast for its 1st quarter between October and December 2020 with turnover/ revenue projection of N74,270,245 and profit after taxation N1,898,330
It’s expecting fall in cash/bank balance at the end of the period to N2,673,194 from N4,308,393 at the beginning of the Period.
