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‘FBN Holdings’ AGM was validly held with regulatory parties in attendance’ – VELOXNEWS


By Chinelo Obogo

The management of FBN Holdings has said that its Annual General Meeting (AGM) was duly and validly held with all requisite regulatory and statutory parties in attendance.

Reacting to a publication stating that the Federal High Court sitting in Lagos, Nigeria has granted an ex parte Order against FBN Holdings and some other respondents, the Company’s Secretary, Adewale Arogundade, said FBN Holdings remained unaware of any lawsuit or court order against it until about 3pm today (Monday) when a copy of the same was served on it.

It however said it has briefed its lawyers to review the said exparte order to ensure its full representation in court on July 22, 2022 to which the same was adjourned.

“In accordance with the Nigerian Exchange Limited Rulebook, we hereby notify NXG and the investing public that our attention has been drawn to an online publication dated June 17, 2022, stating that the Federal High Court sitting in Lagos, Nigeria has granted an ex parte Order against FBN Holdings and some other respondents.

“FBN Holdings remain unaware of any lawsuit or court order against it until about 3pm today (Monday) when a copy of the same was served on it. The order essentially directs FBN holdings and the other respondents to maintain the status quo ante bellum prevailing before FBN Holdings PLC’s 10th Annual General Meeting held on June 20, 2022, pending the hearing and final determination of the motion on notice for interlocutory injunction.

“Without prejudice to the said court order, FBN Holdings PLC confirms that the subject AGM was duly and validly held with all requisite regulatory and statutory parties in attendance. FBN Holdings has briefed its lawyers to review the said exparte order to ensure its full representation in court on July 22, 2022 to which the same was adjourned.

“We wish to reassure the investing public, our esteemed customers and the other stakeholders, that we are aware of our mandate to our shareholders and we will continue to work tirelessly to discharge these responsibilities in compliance with regulatory authorities in the manner expected of a company listed on the premium board of NGX Limited,” Arogundade said.

 

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