UAC of Nigeria Plc has announced key board and governance resolutions following its Annual General Meeting held on June 4, 2025, at the Festival Hotel, Lagos.
In a show of confidence, shareholders re-elected Mrs. Suzanne Iroche and Mr. Karl Olutokun Toriola to the Board of Directors, while also approving the election of Ms. Obi James and Mrs. Amina Muhtar as new directors.
The AGM also ratified the appointment of Mrs. Iroche and Mrs. Muhtar as UAC’s representatives on the company’s Statutory Audit Committee. Additionally, shareholders elected Mr. Olabisi Fayombo, Mr. Matthew Akinlade, and Mr. Nwosu Nnabike Kenneth to represent them on the same committee.
Shareholders approved a final dividend of 22 kobo per ordinary share for the 2024 financial year, to be paid to those on the Register of Members as of May 21, 2025, subject to applicable withholding tax.
Other resolutions included authorising directors to fix the remuneration of external auditors, approving a general mandate for recurrent related-party transactions, and amending the company’s Memorandum and Articles of Association as outlined in the AGM notice.
The meeting was presided over by Mr. Khalifa Biobaku, Chairman of the Board, with Mr. Folasope Aiyesimoju, Group Managing Director, in attendance alongside other executive and non-executive directors.