The Management of Guaranty Trust (GT) Bank Plc has said it would hold its 2019 Annual General Meeting by proxy today. The Company Secretary, Erhi Obebeduo, disclosed this in a statement to shareholders and Nigerian Stock Exchange (NSE).
This is coming after the NSE advised listed companies intending to hold AGMs to put in place adequate precautionary measures to ensure the safety of stakeholders at the meetings.
The bank said it “is not unaware of the health hazards arising from the COVID-19 pandemic”, which could be exacerbated by public gatherings while adding that it would adhere to the directive of the Lagos State government on public gatherings of more than 25 people.
It said that in view of the legal framework and corporate actions predicated on the AGM, the bank engaged the regulators with a view to finding a solution that would balance the compliance with regulatory framework and minimize health hazards that could be exacerbated by such large gatherings.
“We are pleased to inform you that the Corporate Affairs Commission (CAC) has graciously approved that the AGM should hold with attendance by proxy to minimise social contact. Thus, as a law-abiding corporate citizen, the number of people that would be allowed into the venue of the AGM will be restricted to the number the Lagos State government permits for social/public gatherings as at the date of the Meeting”, the statement stated.
According to the bank, “shareholders have been advised to appoint proxies and send the duly completed proxy form(s) to its Registrar not less than 48 hours before March 30. The AGM would also be streamed live on the bank’s website and shareholders are encouraged to log in to observe proceedings”.
It is important to note that these measures have been put in place to ensure the health and safety of our staff and esteemed shareholders and to further ensure that the operations of the company are not disrupted as a result of the inability to carry out corporate actions.