Red Star Express holds AGM
Red Star Express Plc is set to hold its 23rd Annual General Meeting (AGM) at the Civic Centre, Ozumba Mbadiwe, Victoria Island, Lagos on Thursday, August 18, 2016 at 11:00am.
Disclosing this to journalists recently, Company Secretary of Red Star Express Plc, Frances Ndidi Akpomuka, said that the focus of this year’s AGM is geared towards achieving the following: “To declare a Dividend, to receive the Audited Financial Statements for the year ended 31st March 2016 and the Report of the Directors, Auditors and Audit Committee thereon”
“To re-elect directors, to authorize the directors to fix the remuneration of auditors and to elect members of the Audit Committee”
Akpomuka added that if the recommendation for dividend was approved by members, dividend of 35 kobo per 50 kobo share will be posted on September 1, 2016.
He pointed out that the registration process for the AGM was still ongoing, adding that the closure for the registered members and transfer of books of the company will be as from 27th to 29th July 2016 as that will enable the presentation of an up to date register.
According to him, a member of the company is entitled to attend the AGM and vote or appoint a proxy to attend and vote in his/her stead upon presentation of a duly stamped and signed proxy form at the Registrar’s office.
Commenting on the forth-coming election at the AGM, Akpomuka said that Dr. Mohammed Hassan Koguna and Sir. Chris Ogbechie are presented by the company for re-election as their profiles had already been uploaded on the company’s website.
Meanwhile, the company’s turnover stood at 3,815,253 for 2016 while it was 3,884,506 and profit after taxation stood at 159,415 for 2016 and 122,518 for 2015 respectively while turnover for the group was pegged at 6,632,996 for 2016 and 6,658,468 and profit after taxation stood at 237,680 in 2016 and 227,425 in 2015 respectively.
On the consolidated statement of financial position, the total equity and liabilities for the year 2016 stood at 3,756,192 and 3,818,142 in 2015 for the group while the company’s figures were 2,949,222 in 2016 and 3,014,892 in 2015 respectively.
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