Shareholders approve Africa Prudential Name Change, 30 kobo dividend
Shareholders of Africa Prudential Registrar’s Plc has passed the resolution to change the name of the Company to ‘Africa Prudential Plc’.
The special resolution which read that “subject to the receipt of the relevant regulatory approval, the name of the Company be and is hereby changed from Africa Prudential Registrars Plc to Africa Prudential Plc” was unanimously carried by shareholders present at the company’s 4th Annual General Meeting (AGM) held in Lagos on Tuesday, March 28, 2017.
All shareholders whose names appear in the Company’s Register of Members at the close of business on Friday, March 3, 2017 qualified for a dividend payment of thirty Kobo per Ordinary Share which was paid same day of the AGM, after ratification by shareholders.
The company’s audited results for 2016 shows a total of N600 million will be paid to shareholders of the Company, while the Register of Members and Transfer Books was closed from Monday, March 6 to Friday March 10, 2017 (both dates inclusive) for the purpose of updating Register of Members eligible to receive the dividend payment.
Mr. Peter Ashade, Managing Director/CEO explained that the change of name is a strategic decision to enable the company broaden the scope of its business. He noted that the Memorandum & Articles of Association of the Company, the Company Seal and other corporate documents will be amended to reflect the change of name. he added that once the change of name is perfected at the Corporate Affairs Commission, and all relevant constituted authorities duly notified, the company would roll out implementation of the new name on her brand identity and across its branch networks.
In her statement to shareholders, Chairman of the company, Chief (Mrs.) Eniola Fadayomi assured investors that, although the current economic challenges and the simultaneous realignment in the Nigerian Capital Market comes with some discomfort, the company sees it as an opportunity to reassess its corporate strategy, realign strategic thrust in line with the evolving capital market in Nigeria and Africa, and set the company on the path of long term sustainability while also offering greater value to all stakeholders.
She affirmed the Board and management’s commitment to moving ahead of the market transition to position the company for improved competitiveness and leadership in the evolving registrar’s landscape through both service and product leadership.
