Red Star Express Seeks Shareholder Approval to adopt holding structure, raise funds
The Board of Directors of Red Star Express Plc, has said it will seek approval from shareholders for the adoption of a holding structure and approval to raise funds required to finance the company’s expansion plans at its next annual general meeting.
The directors at the company’s board meeting held on Thursday, June 22, 2017, also agreed to recommend a dividend of 40 kobo for every 50 kobo share held by shareholders for approval at its next Annual General Meeting.
The directors in a regulatory filing with the Nigerian Stock Exchange (NSE) signed by Frances Ndidi Akpomuka, company’s secretary, announced that it has passed several other resolutions at its board meeting, adding that if the recommended dividend is approved, the dividend will be posted on 7th September, 2017 to all shareholders, whose names appear on the Register of members at the close of business on 1st August, 2017.
On the closure of register and transfer of books, the company said the register of members and transfer books of the company will be closed from 2nd August to 4th August 2017.The two dates, the company revealed are inclusive, to enable the presentation of an up to date register.
The company further revealed that directors have approved the 2016/2017 company’s audited accounts as presented by the auditors, Ernst & Young.
The statement noted that the Annual General Meeting of the company has been scheduled for Thursday 31, August, 2017, at Welcome Centre Hotel, by 11 am.
