WorldStage Newsonline– Red Star Express Plc, a quoted firm on the Nigerian Stock Exchange (NSE) that is into provision of courier, freight forwarding and logistics services, mailroom management services, warehousing, e-commerce has issued a notice for its 27th Annual General Meeting to hold by proxy at the Radisson Hotel, Isaac John Street, G.R.A, Ikeja, Lagos on Thursday, October 8th 2020 at 11.00am.
The notice at the Nigerian Stock Exchange signed by Frances Ndidi Akpomuka, Company Secretary is to receive the Audited Financial Statements for the year ended March 31, 2020, together with the Report of the Directors, Auditors and Statutory Audit Committee thereon; To declare a Dividend; To re-elect the Directors retiring by rotation- Mr. Sule Umar Bichi and Mr. Sulaiman Koguna.
The notice said the Register of members and Transfer Books of the Company will be closed from 21st to 25th September 2020, both dates inclusive to enable the Registrars update the Register of Members in preparation for payment of dividend.
The Board of Directors of the Company, are recommending a dividend of 35kobo per 50kobo share to be paid electronically on the 15th of October 2020, to shareholders whose names appear on the Register of Members as at 18th September 2020, who have completed the e-dividend registration and mandated the Registrars to pay dividends directly into their bank accounts.
Its consolidated and separate audited financial statements and other national disclosures for the year ended 31 March 2020 Redstar2020report showed a 4.79% growth in revenue at N10.549 billion from N10.067 billion in 2019 while profit after taxation witnessed slower growth at 0.59% to N468.989 million from N466.248 million.
Red Star Express Plc was incorporated as a Private Limited Company on 10th of July 1992 under the name, Red Star Express Nigeria Limited and commenced business operations on 12th of October 1992.
The Company was subsequently converted to a Public Company in July 2007 and had its shares listed on the Nigerian Stock Exchange on November 14, 2007.
The Company has three subsidiaries; Red Star Logistics Limited, Red Star Freight Limited and Red Star Support Services Limited.
