Home Finance FBN notifies NGX on court order over AGM

FBN notifies NGX on court order over AGM

by Goddie Ofose
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FBN Holdings Plc has notified the Nigerian Exchange Limited that its attention has been drawn to an online publication dated July 17, stating that the Federal High Court sitting in Lagos, Nigeria, has granted an ex-parte order against FBN Holdings Plc and some other respondents.

It said this in a statement on the NGX on Monday titled ‘Statement to the NGX on recent publication on FBN Holdings Plc on court order against the AGM on June 20, 2022’, which was signed by the acting Company Secretary, Adewale Arogundade.

The statement said, “FBN Holdings Plc remained unaware of any lawsuit or court order against it until about 3pm today when a copy of same was served on it. The ex parte order essentially directs FBN Holdings and the other respondents to maintain a status quo ante bellum prevailing before FBN Holding 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 said it had asked its lawyers to review the said ex parte order to ensure its full representation in court on July 22, 2022 to which same was adjourned.

While assuring the public that it was aware of its mandate to its shareholders, it said it would 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 the NGX.

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