By Chinwendu Obienyi
As the Nigerian Exchange Group (NGX) gets ready for its maiden Annual General Meeting (AGM) after its demutualisation, members of the Association of Securities Dealing Houses of Nigeria (ASHON) have said this development would bring renewed confidence in the organisation, its new structure as well as the capital market.
This is even as ASHON further noted that the AGM is a symbol of current diversified ownership and sustained national outlook.
The NGX Group completed its demutualisation last March to improve the market in the areas like technology, human capital and processes with enhanced income generation.
It is also expected to make the exchange focus on its core mandate and as part of the post- listing requirements for quoted companies, NGX Group’s scheduled meeting is a platform where the shareholders interact with the company’s board and management for shareholders’ appraisal, in line with corporate governance principles.
According to a statement from ASHON, its Chairman, Mr. Onyewenchukwu Ezeagu, explained that the Association’s members had always partnered with the exchange, adding that dealing member houses will continue to support the market in all areas of development.
He said: “Our members are fully prepared for the 60th Annual General Meeting of NGX Group Plc and the first to hold after the demutualisation exercise. As major shareholders, we were involved in all the processes of demutualisation.
We are comfortable with the agenda of the meeting as we have been part of the whole processes. The proposed resolutions had been made public in the course of the demutualisation. The meeting will bring about renewed relationship between the NGX Group and its stakeholders”.