The Initiates Plc, a leading waste management company in Nigeria, has officially released the notice for its upcoming Annual General Meeting (AGM). The meeting is scheduled to take place on Friday, 25th day of April,2025 at Chinenye Ijeh Hall, Golden Tulip Garden City Port Harcourt Hotel, No.63 Ken Saro wiwa road, formerly Stadium Road by Mummy B Junction, Port Harcourt, Rivers State, Nigeria. This announcement aligns with the company’s commitment to transparency and stakeholder engagement as it continues to play an important role in Nigeria’s environmental services sector.
Key Details of the AGM
The notice outlines the agenda for the meeting, which includes critical resolutions aimed at guiding the company’s strategic direction for the coming year. Shareholders and stakeholders are invited to participate either in person or through proxy, ensuring broad representation in the decision-making process.
The AGM will commence with the standard procedural items, such as confirming the presence of a quorum and adopting the minutes of the previous meeting.
The main agenda items include:
Presentation of Financial Statements
The Board of Directors will present the audited financial statements for the year ended December 31, 2024, alongside the reports of the directors and auditors. This will provide shareholders with a comprehensive overview of the company’s financial performance and operational achievements over the past year.
Dividend Declaration
A key highlight of the meeting will be the consideration and, if deemed appropriate, approval of a dividend payout to shareholders. The proposed dividend reflects the company’s profitability and its commitment to delivering value to investors.
Election and Re-election of Directors
Shareholders will vote on the election or re-election of board members, ensuring continuity and fresh perspectives in the company’s leadership. Mr. Joe Anosikeh as a Director of the Company and Mr. Joseph Ebinum as a Director of the Company
Auditors’ Appointment and Remuneration
The meeting will address the re-appointment of the company’s, the Audit firm of Madu, Onyekwena & Co. as the Company’s External Auditors and authorize the directors to determine their remuneration, maintaining accountability in financial oversight.
General Mandate
The AGM will also seek approval for a general mandate authorizing the company to enter into transactions or agreements in line with its business objectives, subject to regulatory compliance.
Participation and Proxy Voting
For shareholders unable to attend in person, The Initiates Plc has made provisions for proxy voting. A proxy form is included in the AGM notice, executed proxy forms should be deposited with the Company Secretary at the registered office of the Company not later than 48hours before the meeting. This ensures that all shareholders have the opportunity to exercise their voting rights.
The AGM will be streamed live. This will enable shareholders and other stakeholders who will not be attending physically to follow the proceedings. The link for the AGM live streaming will be made available on the Company’s website at www.initiatesgroup.com.
The 2024 Annual Report and Accounts of the Company shall be made available on the Company’s website: www.initiatesgroup.com.
