RESOLUTIONS PASSED AT THE EXTRAORDINARY GENERAL MEETING OF CWG PLC
At the Extraordinary General Meeting of CWG Plc (the Company) held on 20th December 2022 at Block 54A, Plot 10, Off Rufus Giwa Street, Off Adebayo Doherty Street, Off Admiralty Way Lekki Phase 1, Lagos, the Chairman of the Board of the Company presented the following resolutions which was duly considered and passed:
Share Capital Reduction
"That pursuant to Section 131 and other applicable provisions, if any, of the Companies and
Allied Matters Act (CAMA 2020), and Section 13 of the Companies Regulations 2021, the Authorized Share Capital of the Company be and is hereby reduced from N1,750,000,000 ordinary shares divided into 3,500,000,000 shares of N0.50k each to N1,262,413,179.50 divided into 2,524,826,359 ordinary shares of N0.50k each by the cancellation of the
Company's unissued share capital of 975,173,641 (Nine Hundred and Seventy-five million, One Hundred and Seventy-three Thousand, Six Hundred and Forty-One) unissued ordinary shares of N0.50kobo each".
"That pursuant to Section 124 of CAMA 2020, the Company be and is hereby authorized to take all steps necessary to amend Clause 6 of the Memorandum of Association of the
Company to comply with resolution (a) above to read: 'The Share Capital of the Company is
N1,262,413,179.50 (One Billion, Two Hundred and Sixty Two Million, Four Hundred and Thirteen Thousand, One Hundred and Seventy Nine Naira Fifty Kobo) divided into 2,524,826,359 ordinary shares of N0.50 (fifty kobo) each".
"That the Directors be and are hereby authorized to enter into and execute agreements, deeds, notices or any other documents, and to perform all acts and to do all such other things necessary for or incidental to giving effect to Resolution (a) above, including without limitation, appointing such professional parties, consultants and advisers and complying with the directives of the regulatory authorities".
CWG plc published this content on 22 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2022 14:49:09 UTC.
CWG specializes in the design, installation and integration of IT hardware and electronic payment systems. The group also offers maintenance and assistance services. Its turnover can be broken down as follows:
- management of IT infrastructures, operational systems and automated dispensing machines (39.1%);
- information management and assistance services (36.3%);
- development of software for the design and implementation of smart cards and systems management (24.2%);
- management of communication networks and equipment (0.4%).
Net sales are distributed geographically as follows: Nigeria (69.8%), Ghana (16.8%) Uganda (12.7%), Cameron (1.1%) and other (0.6%).
CWG PLC 
